UPDATE: Felix Hernandez deal for five years, $78 million

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9:52: Heyman and others are now tweeting that it is a five year deal worth $78 million.

9:19 A.MFrancisco Blavia tweets that the deal is worth $78MM over five years. However,  Jason Churchill of Prospect Insider says the deal “may very well be six years guaranteed and less than $100 million, with some incentives that could push it over the $100-million mark.”

Not sure who to believe, but I feel comfortable reporting that Hernandez is going to be very, very rich.

12:43 A.M. The Seattle Mariners have reportedly agreed to a contract extension with ace pitcher Felix Hernandez.

ESPN’s Keith Law, citing “a source with direct knowledge of the talks”, reports that the sides agreed to a deal on Monday night on the eve of the deadline for exchanging salary figures for arbitration.

The length and the terms of the deal were not available.

Hernandez, who made $3.8 million in 2009, was set for a big payday after going 19-5 with a 2.49 ERA in 2009, finishing second in the AL Cy Young balloting to Royals star Zack Greinke.

Law reports that the deal will go through pending a physical. If it does, it will be the latest impressive move by second-year Mariners GM Jack Zduriencik, who appears well on his way to turning around a franchise that lost 101 games under Bill Bavasi in 2008.

Earlier this offseason, Zduriencik worked a deal with the Phillies that brought ace Cliff Lee to Seattle, giving the Mariners perhaps the best one-two pitching punch in all of baseball. And more recently, he signed center fielder Franklin Gutierrez – a promising young hitter coming off a brilliant defensive season – to a four-year extension.

Brewers to give Mike Moustakas a look at second base

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The Brewers reportedly signed third baseman Mike Moustakas to a one-year, $10 million contract on Sunday. While the deal is not yet official, MLB.com’s Adam McCalvy reports that the Brewers plan to give Moustakas a look at second base during spring training. If all goes well, he will be the primary second baseman and Travis Shaw will stay at third base.

The initial thought was that Moustakas would simply take over at third base for the more versatile Shaw. Moustakas has spent 8,035 of his career defensive innings at third base, 35 innings at first base, and none at second. In fact, he has never played second base as a pro player. Shaw, meanwhile, has spent 268 of his 4,073 1/3 defensive innings in the majors at second base and played there as recently as October.

This is certainly an interesting wrinkle to signing Moustakas, who is a decent third baseman. He was victimized by another slow free agent market, not signing until March last year on a $6.5 million deal with a $15 million mutual option for this season. That option was declined, obviously, and he ended up signing for $5 million cheaper here in February as the Brewers waited him out. Notably, Moustakas did not have qualifying offer compensation attached to him this time around.

Last season, between the Royals and Brewers, the 30-year-old Moustakas hit .251/.315/.459 with 28 home runs and 95 RBI in 635 plate appearances.