The Washington Nationals said Tuesday that it has extended Stephen Strasburg's contract.
The 27-year-old starting pitcher has clinched a seven-year deal with the team. Strasburg was the No. 1 overall selection in the 2009 First-Year Player Draft.
"Ensuring that Stephen will remain a part of our organization for years to come is a proud moment for our entire family," said Theodore Lerner, managing principal owner of the Nationals.
"From the moment he was drafted, Stephen has been far more than just a pitcher for our organization, and his talent is transcendent; the numbers speak for themselves," said Mike Rizzo, general manager for the Nationals.
"Needless to say I am thrilled we'll continue to have him as a part of our family on the field and in the community, and looking forward to seeing him on the mound for us every five days for the foreseeable future," Rizzo added.
The Washington Post reported that Strasburg's extension is worth $175 million, citing sources familiar with the situation. The pitcher declined to comment to the Post after his team beat the Detroit Tigers 5-4 on Monday evening.
The Post added that the contract includes a "rolling opt-out after three or four years and performance bonuses for hitting 180 innings pitched each season." The Post's sources added that the deal may include "a significant amount of deferred money."