The Colorado Rockies have agreed a record deal with free-agent closer Wade Davis, the MLB franchise announced on Friday.
Davis, one of Colorado's primary targets this offseason, has signed a three-year deal that will pay the right-hander an average of $17.33million per year - a record for a reliever.
The 32-year-old is coming off a career-best season in his one year as the Chicago Cubs' closer, recording 32 saves with a 2.30 ERA and 12.1 K/9.
Over nine MLB seasons, primarily with the Tampa Bay Rays and the Kansas City Royals, he has 79 saves.
He is expected to take over as the Rockies' closer, a role occupied last season by former Royals team-mate Greg Holland as Colorado was the second wild card in the National League.
The average annual value of the deal surpasses the contract Aroldis Chapman signed with the New York Yankees that pays him $17.2m per season.
Friday's agreement totals $52m over three years and reportedly includes a fourth-year vesting option at $14m.
Whatever the contract's structure, it is another step in GM Jeff Bridich's bolstering of Colorado's bullpen.
The Rockies earlier this month added right-hander Bryan Shaw and then retained left-hander Jake McGee.
At that point, the Rockies also reportedly were close to re-signing Holland, a free agent who had 41 saves for them in a bounce-back 2017 season following Tommy John surgery.