Cubs sign Anthony Rizzo to seven-year extension

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The Cubs have agreed to a seven-year, $41 million contract extension with first baseman Anthony Rizzo. The deal runs from 2013-19, reports Ken Rosenthal of FOX Sports. Rizzo, 23 years old, has been his club’s most reliable hitter, entering this afternoon’s game against the Nationals with a .288/.361/.554 line, including nine home runs.

Rizzo was a sixth-round pick by the Red Sox in the 2007 draft. He went to the Padres in the trade that sent Adrian Gonzalez to Boston. The Padres sent him to the Cubs to acquire Andrew Cashner.

Rosenthal provides more details on the contract:

The deal also includes two club options and escalators that could extend the deal to 2021 and bring the total value of the package to $73 million, sources said.

Rizzo, who has just over a year of major-league service, is earning $498,000 season. His new deal will include an immediate increase for 2013 while covering all four of his arbitration years – Rizzo was on track for Super Two status – and his first free-agent year.

The deal provides the Cubs cost certainty with an up-and-coming first baseman. Rizzo would not have been arbitration eligible until after the 2015 season and he would not have been eligible for free agency until after the 2018 season, as Charlie Wilmoth of MLB Trade Rumors notes.