Miguel Cabrera Agrees To A New Contract That Could Be Worth Up To $352 Million

The Detroit Tigers and Miguel Cabrera have reached an agreement on an 8-year, $248 million extension according to Jon Morosi of FoxSports.com.

That is the third-largest contract in baseball history, behind the $252 million contract signed by Alex Rodriguez with the Texas Rangers and the $275 million contract A-Rod signed with the Yankees.

Cabrera still has two years remaining on his 8-year, $152.3 million contract that will pay $22 million this season and next. That means the Tigers owe Cabrera $292 million over the next ten seasons, the largest commitment ever to a single player.

On top of that, the contract has two vesting options that would add two more years to the contract at $30 million each season according to Jon Heyman of CBSSports.com.

That would bring the total commitment to Cabrera to 12 years and $352 million.

That's a big gamble for a player that will turn 31 next month.

Cabrera is the two-time reigning American League MVP and arguably the best hitter in baseball.

Like most large contracts in baseball, the Tigers are likely willing to overpay at the back-end of the deal in hopes that the front-end of the deal leads to a few MVP seasons and a championship or two.