Colorado Rockies, Nolan Arenado finalizing extension

The Colorado Rockies and superstar Nolan Arenado avoided free agency with a big extension.

The potential crown jewel of the 2019-2020 offseason is off the table. On Tuesday, Jeff Passan of ESPN reported that the Colorado Rockies and Nolan Arenado are finalizing an eight-year, $260 million extension. The deal runs through the 2026 season, and it includes an opt-out clause after three years and full no-trade protection.

While the total dollar amount falls short of both Giancarlo Stanton‘s $325 million deal and Manny Machado‘s recently-signed $300 million deal with the San Diego Padres, Arenado’s average annual value on his deal stands at $32.5 million, which breaks the record for the highest AAV by a position player.

For the Colorado Rockies, this continues their tradition of locking up their stars before they hit free agency. Superstars such as Todd Helton, Troy Tulowitzki, Carlos Gonzalez, and Charlie Blackmon all signed extensions with the Rockies before hitting free agency for the first time. Nolan Arenado, however, looks primed to surpass all of these players and become the greatest player in the short history of the Colorado Rockies.

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For a team that has made the playoffs in consecutive seasons, keeping a superstar such as Arenado could possibly extend the Rockies’ contention window.

MLB Network recently ranked

Arenado as the third-best player in baseball, and the top player in the National League.  Arenado has won six consecutive Gold Glove awards since coming into the league, and he has top-five finishes in the NL MVP voting in each of the past three years. This type of player is practically impossible to replace, and with a team that is largely built on young, homegrown pitching, holding onto a superstar to anchor both the lineup and the defense is huge for the Rockies.

Nevertheless, any deal of this length comes with some risks. Assuming Arenado doesn’t use his opt-out clause, this deal will take him through his age-35 season. It is possible that the Colorado Rockies will be paying a high price for a declining Arenado in the future, but as it stands, the Rockies are extending their window of contention and Arenado is getting the money he deserves.