Rockies, Arenado agree to eight-year extension

The Colorado Rockies and All-Star third baseman Nolan Arenado have agreed to an eight-year extension, the MLB team announced on Tuesday.

Arenado's deal – reportedly worth $260million – could keep the four-time All-Star in Colorado until 2026.

The contract would negate the one-year, $26m deal Arenado signed to avoid arbitration this offseason and adjust his contract going forward, while the extension includes an opt-out after three years.

Arenado – who turns 28 in April – becomes MLB's highest-paid position player, based on the contract's average annual value of $31.875m, surpassing Miguel Cabrera's contract with the Detroit Tigers that pays him $31m per year.

The Rockies had expressed a desire to retain Arenado – a six-time Gold Glove defender who could have become a free agent after this season. He has finished in the top five in the National League MVP voting each of the last three years and has a career .291/.346/.539 slash line over six MLB seasons.

Rockies chairman and CEO Dick Monfort said the team were confident they could get a deal done with their franchise player, who also had said he liked where he is and wanted to stay in Colorado.

"It's such a great place," Arenado told USA Today. "I really enjoy the fact there's a comfortability here. You know the coaches. You know the players. Some of my best friends are on this team.

"I grew up here in this organisation, so it feels like home in a way. I've been here since the tide has changed, and that's a really good feeling. I was part of that change. You want to win in a place where you've been all of your life."

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