The Cleveland Guardians have struck a deal with star third baseman, José Ramírez, on a five-year contract extension for $124 million, according to ESPN. Ramirez, 29, was previously under contract until the 2023 season. He had set a deadline of Opening Day for forging a new agreement. Ramirez, a three-time All-Star, hit.266/.355/.538 last season.

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Ramirez was set to earn $25 million over the following two seasons before becoming a free agent. According to ESPN’s Jeff Passan, he had set an Opening Day deadline for striking a new agreement, and the Guardians had been seeking prospective trades in case they didn’t reach an agreement before then. Ramrez will be guaranteed about $150 million under the new contract.

Ramirez has developed into one of the top players in the big leagues. He has batted over the previous three seasons alone. 267/.350/.528 (132 OPS+), 76 home runs, and 61 steals (on 72 tries). According to Baseball-Reference, his efforts are worth an estimated 12.2 Wins Above Replacement.

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Ramirez appears to have left money on the table, probably substantial money, in order to stay with the Guardians. Anthony Rendon agreed to a seven-year, $245 million contract with the Los Angeles Angels ahead of the 2020 season. Rendon was entering his 30th season and had earned a 144 OPS+ and 18.2 WAR in the three seasons previous (however it should be remembered that Ramirez’s counting numbers were lowered by the pandemic-shortened 2020 season indirect comparisons like these).

According to MLB Trade Rumors, Ramirez’s contract is the Guardians’ largest investment in a single player in team history, exceeding the $60 million free-agent contract inked by Edwin Encarnación before the 2017 season.

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Ramirez is the second significant Guardians player to sign a long-term contract extension in the last week, following closer Emmanuel Clase, who re-upped for five years and $20 million. The Guardians’ offseason was generally barren of action, but their extensions put a bow on it. Even today, the Indians’ lone big-league free-agent addition this winter was backup catcher Luke Maile, who will start the season on the disabled list due to a hamstring injury.