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The Boston Red Sox are reportedly finalizing an 11-year, $331 million contract with third baseman Rafael Devers, sources familiar with the negotiations told ESPN's Jeff Passan on Wednesday (January 4).
The reported potential deal comes hours after the two sides agreed on a one-year, $17.5 million contract for 2023 to avoid arbitration.
"BREAKING: Star third baseman Rafael Devers and the Boston Red Sox are finalizing an 11-year, $331 million contract, sources familiar with the agreement tell ESPN," Passan tweeted. "The deal is not done. The physical process hasn't started. But in the end, Devers is expected to remain in Boston."
Devers was expected by many to be seeking a $300 million-plus contract prior to Passan's report.
Devers is coming off back-to-back All-Star seasons, hitting for a .295 average, 27 home runs and 88 RBIs last season and a .283 average, 139 home runs and 455 RBIs during the past six seasons.
The 26-year-old won the Silver Slugger award and was selected to the MLB second-team in 2021.
The reported move solidifies Devers' spot as a franchise player for the Red Sox after the team lost several key contributors from its 2018 World Series team including shortstop Xander Bogaerts, who signed with the San Diego Padres last month and outfielder Mookie Betts, who was traded to the Los Angeles Dodgers in 2020.
Boston also lost slugger J.D. Martinez (Dodgers), catcher Christian Vázquez (Minnesota Twins) and pitcher Nathan Eovaldi during free agency this offseason.