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DENVER — The Rockies and all-star third baseman Nolan Arenado finalized an eight-year, record-breaking contract, the team announced on Tuesday.

The deal, reportedly worth $260 million, gives the Rockies four-time All-Star and six-time Gold Glove winner nearly $32.5 million per year, making him the highest-paid position player ever and the second-highest in baseball history behind the $34.42 million for Diamondbacks pitcher Zack Greink.

The deal with the Rockies runs through 2026 and has an opt-out clause after three years that would allow Arenado to become a free agent. ESPN reports the deal also includes a full no-trade clause.

The expected deal would be the largest in franchise history.

Arenado, who turns 28 on April 16, hit .297 with an NL-high 38 home runs and 110 RBIs, which tied for second in the league, to help the Rockies reach the playoffs in back-to-back seasons for the first time ever.

They beat the Chicago Cubs in the wild-card game before being swept by the Milwaukee Brewers in the Division Series.

Known for his big bat and his highlight-reel plays at third, Arenado has been the face of the franchise for years. He’s earned a Gold Glove in each of his six major league seasons. A second-round pick by the Rockies in the 2009 amateur draft, Arenado is a career .291 hitter with 186 home runs, 616 RBIs and an .886 OPS.

Arenado was scheduled to become a free agent after this season. Arenado and the Rockies had previously agreed to a one-year, $26 million deal to avoid arbitration in January.

The deal came one day after the Rockies announced a three-year contract extension for manager Bud Black.

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