Trout will reportedly earn $426.5 million over the life of the contract, including the remaining two years of the original deal, according to Rhett Bollinger of MLB.com.
The two-time AL MVP will likely spend his entire career with the Angels, as he's now scheduled to hit free agency in 2030. The 27-year-old Trout said in a statement Los Angeles is where he belongs.
"This is where I wanted to be all along," he said. "I have enjoyed my time as an Angel and look forward to representing the organization, my teammates, and our fans for years to come."
Trout thanked ownership, coaches, the front office, and the fans before adding that their collective support "has made a tremendous difference not only for me, but for my family as a whole."
Team owner Arte Moreno sees the signing as a boon to the franchise and the fan base, per Mark Feinsand of MLB.com.
"This is an exciting day for Angels fans and every player who has ever worn an Angels uniform," Moreno said. "Mike Trout, an athlete whose accomplishments have placed him among the greatest baseball players in the history of the game, has agreed to wear an Angels uniform for his entire career."
Angels left-hander Tyler Skaggs spoke highly of his teammate - and former minor-league roommate - telling Bollinger the contract will be worth every penny.
"Mike Trout is the greatest player of all time," Skaggs said. "He deserves everything. Five hundred, six hundred, eight hundred (million). I'm really happy for him."
Trout is well on his way to Hall of Fame enshrinement. In parts of eight seasons, he's slashed .307/.416/.573 with 240 home runs, 648 RBIs, 224 doubles, and 189 stolen bases.
Trout's production even has Hall of Fame-bound teammate Albert Pujols in awe.
"Trout is one of those players who comes around once every 50, once every 100 years," Pujols said. "I’m blessed to wear the same uniform as him.”
And now, Trout's set to be one of the rare players of this era to spend his entire career with one team thanks to the record-setting extension. The Angels are unsurprisingly pumped up.