Nolan Arenado is going to stick with the Rockies instead of testing free agency next offseason. The two sides are finalizing an eight-year contract extension worth $260 million, according to multiple reports, including CBS Sports HQ's Jim Bowden. 

The deal will reportedly include an opt-out clause after three years, and it appears the deal starts with this season. Arenado was originally going to make $26 million, which is what he got in the arbitration process. 

Arenado will turn 28 years old in April and is the face of the Rockies' franchise, a ballclub that has secured an NL wild card spot each of the last two seasons. 

The four-time All-Star has won the Gold Glove and Silver Slugger at third base in each of the last four seasons and has actually won the Gold Glove during all six of his MLB years. 

He's led the NL in home runs three of the last four seasons and RBI twice. Last season, Arenado hit .297/.374/.561 (133 OPS+) with 5.6 WAR. He's improved on his MVP finishes four years running, finishing eighth, fifth, fourth and third, respectively. 

It's not just the performance with Arenado, it's the durability, too. He's averaged 158 games played over the last four seasons. 

Arenado was set to hit free agency after the 2019 season, but instead he's got a contract that looks to be paying him an average annual value of $32.5 million. 

The $32.5 million AAV trails only Zack Greinke's $34.4 million, but makes Arenado's salary the highest ever -- again, going by average annual value -- among position players, topping Miguel Cabrera's $31 million. Only Giancarlo Stanton (13 years, $325M), Machado and Alex Rodriguez (10 years, $275 million) have signed bigger deals than this one.