Rockies third baseman Nolan Arenado has agreed to an eight-year extension worth more than $255 million with the Rockies on Tuesday, according to ESPN's Jeff Passan.
Arenado's deal reportedly includes an opt-out after three years and includes the largest per-year salary of any position player in baseball. Miguel Cabrera held the previous record at $31 million per year. Arenado will be eligible for free agency again after the 2021 season. His deal also includes a full no-trade clause.
Colorado previously avoided arbitration with Arenado on Jan. 31 when the two sides agreed to a one-year, $26 million contract.