According to multiple reports, the Red Sox and Rafael Devers have come to an agreement on an 11-year, $332 million contract extension.
The agreement represents the sixth-largest deal in major league history going by total value.
Carlos Baerga was first to report that the sides were close on the terms.
Devers and the Red Sox had agreed to a one-year, $17.5 million deal on Tuesday to avoid arbitration, but that clearly didn't preclude them from continuing to negotiate and ultimately hammer out a long-term extension.
Devers, 26, has spent his entire professional career with the Red Sox, first signing as a 16-year-old free agent out of the Dominican Republic in 2013. He made his big-league debut in 2017 and helped the Red Sox win the World Series in 2018.
Last season, Devers hit .295 with 27 home runs, 88 RBIs, 84 runs and an .879 OPS in 141 games.
There had been concern among Red Sox fans that the team wouldn't lock up Devers after they weren't able to keep Mookie Betts or Xander Bogaerts around. Ultimately, however, they did in fact take a more aggressive approach with Devers and got it done.