The Detroit Tigers and two-time All-Star pitcher Framber Valdez agreed to a three-year, $115-million contract, sources told Jeff Passan of ESPN.
Valdez's reported $38.3-million average annual value sets a new record for both left-hand pitchers and Latin American hurlers.
The 32-year-old's pact includes deferrals and an opt-out clause after the second season, a source told Ken Rosenthal of The Athletic.
Valdez gets a $20-million signing bonus as part of the contract, reports Jon Heyman of MLB Network.
The pitcher recently met with Tigers manager A.J. Hinch, which helped the sides reach a deal, according to Heyman. The two know each other from their time with the Houston Astros.