The 29-year-old will not be a free agent until the 2022 season is over.
In exchange for Fraizer, who leads baseball in hits this year, will come in exchange of shortstop Tucupita Marcano, right-hander Michell Miliano and outfielder Jake Suwinski, according to a report from ESPN.
Fraizer was asked about the possibility of him being traded off to another team, to which the 29-year-old said that he is not letting thought distract him. He made the statements last week.
While saying that it is "cool" that other teams in the Major League Baseball are recognising his worth and want him to play for them, he added that he still has to worry about playing quality baseball.
He said, "It tells you you're playing well, but I still have to worry about playing baseball", according to reports from ESPN.
Frazier has garnered multiple accolades through his long-spanning career in Major League Baseball. These include being included in the All-Star category this season and being the finalst for the Gold Glove in 2020.
The 29-year-old is also the second-longest tenured player for Pittsburgh Pirates, second only to highly celebrated player and right fielder Gregory Polanco, according to reports from ESPN.
Days before the news of Frazier's apparent transfer broke, the New York Mets, on Friday, have agreed to bring aboard renowned pitcher Rich Hill in exchange for Matt Dyer utility man and relief pitcher Tommy Hunter.
Hill, who would be getting into his 11th Major League Baseball team, has a 3.87 earned run average (ERA) and has had a smooth stride so far in the ongoing season.