The Colorado Rockies made a big splash even before the season started. On Tuesday it was announced that franchise superstar Nolan Arenado had signed a new eight year contract.
According to Jeff Passan of ESPN, the Rockies and Nolan Arenado agreed to an eight-year contract extension worth more than $255 million. The contract includes an opt-out after three years. The value of the deal makes Arenado the highest paid position player on a per-year basis in the MLB.
Just a month ago, the Rockies and Arenado agreed to avoid arbitration with a record setting $26 million deal for this upcoming season. For those negotiations, Arenado was looking for around $30 million, while the Rockies were looking to pay around $23 million. The two sides were able to come to an agreement and meet in the middle, which was encouraging for a future contract extension.
Arenado’s new deal with Colorado will run through 2026, but could also allow him to hit free-agency after the 2021 season with an opt-out clause built in his new contract. Nonetheless, the Rockies have locked up their franchise superstar for and now seem ready to compete in the both the present and future.
Arenado, who will turn 28 years old in April, captured his sixth consecutive Gold Glove in 2018, surpassing Larry Walker’s previous club record of five. In his six years with the Rockies Arenado has batted .291 with 186 home runs and 616 RBI.
When the Rockies drafted Arenado back in 2009, not many would have predicted a record-breaking contract a decade later. The question for the team now is if they can return to the World Series before the end of the deal.