Trout has $66.5 million remaining on his current deal with the Angels. The new total would push his career earnings to more than $577 million, the most in the history of American professional sports.
The deal would easily surpass Bryce Harper's Major League Baseball record deal of 13 years and $330 million, which he signed this month.
Harper attempted to recruit Trout in the days following the signing, knowing his friend was set to hit free agency in 2020. Trout signed a six-year, $144.5 million deal with the Angels in 2015.
The 27 year old finished second in American League MVP voting after hitting .312 with 39 home runs and 79 RBIs in 140 games last season for the Angels. The seven-time all-star and two-time MVP led baseball with a .460 on-base percentage, 1.088 OPS, 199 OPS+ and 25 intentional walks. Trout also had an American League-high 122 walks.
Trout owns a career .307 batting average and has 240 home runs in eight seasons since being selected as the No. 25 overall pick in the 2009 MLB June Amateur Draft out of Millville Senior High School in New Jersey.