Nolan Arenado and the Colorado Rockies are finalizing an eight-year, contract extension worth $260 million. Jeff Passan of ESPN says the deal includes an opt-out after three years.
At $32.5 million a year, the contract makes Arenado the highest-paid position player on an average annual basis in the game’s history, topping Miguel Cabrera‘s $31 million a year deal. The highest per-year salary overall remains Zack Geinke’s $34.4 million/year deal with the Diamondbacks. The largest total contract ever given out was by Marlins, who agreed to give Giancarlo Stanton $325 million. The largest free agent deal was the $300 million the Padres recently agreed to pay Manny Machado. No matter how you slice it, however, Arenado is going to make a lot of money and the deal will keep him in Colorado for the foreseeable future.
Arenado and the Rockies recently agreed to a $26 million salary for the 2019 season, avoiding arbitration. That deal — and, quite obviously, this extension — reflects the fact that Arenado is one of the best players in baseball. Last season, he hit .297/.374/.561 with 38 home runs, 110 RBI, and 104 runs scored in 673 plate appearances, won his sixth consecutive NL Gold Glove at third base, made the All-Star team for the fourth consecutive year, and finished third in NL MVP balloting.