Rockies agree to $260M extension with 3B Nolan Arenado

Feb. 26 (UPI) -- The Colorado Rockies are finalizing a contract extension with Nolan Arenado that will make him the highest-paid position player on a per-year basis.

Sources told MLB Network and ESPN that the eight-year contract is worth $260 million. The pact includes an opt out clause after the third year. It also includes a no-trade clause.

The extension keeps the four-time All-Star from reaching free agency after the 2019 season.

Arenado, 27, hit .297 with a National League best 38 home runs in 156 games last season. He also had 110 RBIs for the Rockies. The six-time Gold Glove winner has averaged 40 home runs and 126 RBIs, while hitting .297 over his last four seasons.

Arenado owns a career .291 batting average and has 222 long balls in six seasons with the Rockies. The Rockies originally agreed to terms on a $26 million 2019 salary for Arenado in January to avoid arbitration, but this contract replaces that deal.