UPDATE: Rockies close to ten-year extension with Troy Tulowitzki

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UPDATE: Final word on this for the night. Tracy Ringolsby hears that Tulowitzki will receive $157.75 million over the length of the contract. This includes $23.75 million for the final three guaranteed years remaining on his current deal, his $15 million option for 2014 and $119 million for six new years.

10:35 PM: According to Jon Heyman of SI.com, the six-year extension is “believed to be worth” $120 million, bringing the entire package to around $160 million.

10:05 PM: We thought Cliff Lee or Carl Crawford would sign the biggest deal of the winter, but it turns out that honor may go to Troy Tulowitzki.

According to a report first passed along by Keith Law of ESPN.com and confirmed by Buster Olney of ESPN.com, the Rockies are nearing a contract extension with Tulowitzki that may be for as long as ten years.

Tulowitzki, who turned 26 last month, is in the middle of a six-year, $31 million contract that runs through 2013 and includes a $15 million club option for 2014. According to Jon Heyman of SI.com, the Rockies would pick up the option in the new deal and add six years to the contract.

Tulowtizki batted .315/.381/.568 with 27 homers, 95 RBI and a 949 OPS this past season while winning his first Gold Glove and being named to the All-Star team for the first time. The reported extension would take Tulowitzki through his age-35 season and quite possibly top Todd Helton’s nine-year, $141.5 million deal as the richest in franchise history. Stay tuned.

Each owner will get at least $50 million in early 2018 from the sale of BAMTech

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Earlier this year Disney agreed to purchase the majority stake in BAMTech, the digital media company spun off from MLB Advanced Media. We know it as the source of the technology for MLB.tv and MLB.com, but it’s far more wide-ranging than that now. At present it powers streaming for MLB, HBO, NHL, WWE, and, eventually, will power Disney’s and ESPN’s upcoming streaming services.

The company was started by an investment from baseball’s 30 owners, so they’re getting a big payout as a result of the acquisition. Earlier this morning Jim Bowden dropped this regarding how much of that payout is in the offing in the short term:

That’s probably on the low end, actually. Some people I’ve spoken to who are familiar with the acquisition say the figure is more like $68 million in Q1 of 2018.

Good for the owners! It was a savvy, forward-thinking investment that, in the past, baseball owners might not have made. Bud Selig, Bob Bowman and others deserve credit for convincing the Jeff Lorias and Jerry Reinsdorfs of the world to think big and long term. It’s money out of the sky, raining down upon the owner of your baseball team for, basically, doing nothing.

Money which should be remembered when your buddy complains about a relief pitcher getting $6 million for only pitching 65 innings. Money which should be remembered when your team’s GM says that he has to cut back on payroll in the coming year.