According to ESPN’s MLB Insider Jeff Passan, Nolan Arenado has signed a new eight-year contract that is worth $255 million, a record breaking contract for annual value.
The four time All-Star agreed to stay with Colorado this morning for the inevitable future. The contract is worth, on average, $32.5 million per year and has an opt-out clause that will allow Arenado to become a free agent when he turns 30. Last year, Arenado finished third in the MVP voting, hitting 38 home runs and driving in 118 runs.
Arenado was slated to be the top free agent next season with a ton of teams showing interest in him including the Yankees and Red Sox. This deal takes him off the market for the foreseeable, his new deal has a full-no trade clause keeping him as the face of the Rockies franchise.
MLB Network Insider Joel Sherman notes the nature of some of the record-breaking contracts handed out over the years. The Marlins, Padres, and Rockies have been the three teams to give players the top contracts in league history, a surprise to see considering the pay days big market teams give out constantly.
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