Rockies, Arenado agree to 8-year, $260M contract

Nolan Arenado is staying put.

The star third baseman and the Colorado Rockies agreed to an eight-year, $260-million contract, the team announced Tuesday.

The deal reportedly includes an opt-out after three seasons as well as a full no-trade clause, sources told The Athletic's Ken Rosenthal.

The new contract apparently starts with the 2019 season, effectively replacing the $26 million Arenado and the Rockies agreed on in lieu of arbitration, and concludes following the 2026 campaign. If he doesn't exercise his opt-out, he'll hit free agency after his age-35 season.

Original reports stated it was a seven-year deal worth $245 million, according to Bob Nightengale of USA TODAY Sports, which would have carried a record-breaking average annual value of $35 million.

Under this deal, he will average $32.5 million per season. While that doesn't eclipse Arizona Diamondbacks right-hander Zack Greinke's annual salary of $34.4 million, it will make him the highest-paid position player in MLB history, passing Miguel Cabrera's $31-million AAV, according to Cot's Contracts.

In terms of sheer volume, it's the fourth-largest contract ever, trailing only Giancarlo Stanton, Manny Machado, and Alex Rodriguez.

The 27-year-old was poised to hit the open market after the 2019 season without a new deal. However, the club remained steadfast in its commitment to keeping him and wasn't aiming to trade him.

Over the past four seasons, Arenado has averaged 40 home runs per year while slashing .297/.358/.573. He's done most of his damage in the friendly confines of Coors Field, though. In 2018, he posted a whopping 1.105 OPS at home compared to .772 on the road.