The Chicago Cubs reached agreement with first baseman Anthony Rizzo on a seven-year, $41 million contract, Foxsports.com reported Sunday.
The deal, which runs through the 2019 season, also includes two club options that could extend the deal through 2021 and raise the total value to $70 million.
Escalators could further increase the deal to $73 million, according to the report.
The 23-year-old Rizzo has just over a year of major-league service and is making $498,000 this season. The new deal will include an increase for 2013.
Rizzo is batting .280 with nine home runs and 28 RBIs this season. He hit .285 with 15 homers in 87 games last year.
The Cubs acquired him from the Padres for pitcher Andrew Cashner in a four-player deal on Jan. 6, 2012.