It's official: Jose Altuve, Astros agree to massive contract extension

HOUSTON – AL MVP Jose Altuve and the World Series champion Houston Astros have finalized a $163.5 million, seven-year contract that guarantees an additional $151 million over five seasons.

The 27-year-old second baseman had been among baseball's best bargains. He agreed in 2013 to a deal that originally guaranteed $12.5 million from 2014-17 and include club options for 2018 at $6 million and 2019 at $6.5 million.

READ: How much do Astros players make?

His new deal, announced Monday, keeps those salaries and adds a $21 million signing bonus, of which $1 million is payable upon the deal's approval by the commissioner's office and $10 million each on July 1 in 2018 and 2019. He will get annual salaries of $26.2 million from 2020-24.

"The story of Jose Altuve is one of the most inspiring in all of sports. He's one of the most decorated players in baseball. He's well on his way to being recognized as one of the best players of his generation," Astros general manager Jeff Luhnow said Monday. "This is our franchise player. He's been with us since he signed. He's getting better and better."

Astros owner Jim Crane rained superlatives down on Altuve, calling him dependable, durable, home-grown, enthusiastic, a fan favorite, a winner, a player who leads by example and the MVP.

"Jose, you're the heart of the team and we're excited to have you for the long-term. Congratulations," Crane said.

"When your best players are your best example, it makes our job a lot easier," Astros manager A.J. Hinch said.

Altuve would have been eligible for free agency after the 2019 season.

The 5-foot-6 Altuve hit .346 last season to win his second straight AL batting title and third in four seasons. He had 24 homers, 82 RBIs and 32 stolen bases.

"I want to say this is a very important day for me. I thank God and my family. The most important thing for me right now is those guys (his teammates) being here for me. You made my day and you made me more nervous," he said.

Altuve said getting the extension done was a priority before the season started so it did not become a distraction to the team.