UPDATE: Jerry Crasnick of ESPN.com passes along word that the deal is official. Crasnick also notes that Maybin’s desire for a no-trade clause was denied because the Padres have a club policy against giving no-trade clauses.
12:05 PM: Corey Brock of MLB.com confirms that the deal is worth $25 million. Sounds like a potential bargain for the Padres.
11:51 AM: Dan Hayes of the North County Times reports that the deal is worth $23-25 million while the club option is in the range of $7-8 million.
11:23 AM: The San Diego Union-Tribune reports that the Padres will announce the extension later today.
The new deal will lock up Maybin through 2016 and includes a club option for 2017. In other words, the Padres have bought out all three of his arbitration seasons and at least his first year of free agency.
10:59 AM: Dan Hayes of the North County Times was told by a front office source that the Padres and Cameron Maybin are “very close” to finalizing a extension and that a deal could be announced today. No word yet on the possible terms.
The two sides had off-and-on discussions about a possible deal earlier this offseason, but talks progressed after Maybin switched agents in January.
Maybin, who was acquired from the Marlins last offseason for relievers Ryan Webb and Edward Mujica, batted .264/.323/.393 with nine homers, 40 RBI, 40 stolen bases and a .716 OPS over 137 games in 2011 while playing solid defense in center field. The 24-year-old owns a .255/.318/.386 batting line over his first 1,178 plate appearances in the majors.
Maybin is set to become arbitration-eligible for the first time next winter and remains under team control through 2015.