Phil Hughes has agreed to a three-year, $42 million contract extension with Minnesota, the New York Daily News reports.

Hughes has agreed to a three-year, $42 million contract extension with Minnesota, the New York Daily News reports.

Analysis:

The contract will replace the two years and $16 million remaining on his contract to in effect give him a five-year, $58 million deal. Hughes set a major league record for strikeout-to-walk ratio (11.63) in his first season in Minnesota while going 16-10 with a 3.52 ERA.