UPDATE: (Mar 23rd, 4:00pm EST) - Danny Knobler of MLive.com reports that the 8 year extension includes the 2008 season, so the deal will run through 2015, not 2016 as ESPNdeportes had originally reported.  This is what you need to know: Cabrera will make $11.3 million in ‘08 and then $142 million between 2009 and 2015, or a little over $20 million per year during that span. 

Mar 22nd, 9:06pm (EST) - According to Enrique Rojas at ESPNdeportes.com, the Detroit Tigers and third baseman Miguel Cabrera have reached a preliminary agreement on the biggest contract in the club’s history.  A source close to Cabrera said the deal is for 8 years, worth $153.3 million. The anonymous source said, “Miguel just signed a big contract. The contract will be completed when Miguel takes a physical on Monday.”

The $153.3 million deal would be the 4th richest in MLB history, trailing only the contract of Alex Rodriguez ($275 million), Derek Jeter ($189M) and Manny Ramirez ($160M). Cabrera, 24, came over via trade this past offseason from the Florida Marlins, along with teammate Dontrelle Willis. He will earn $11.3 million for the 2008 season, and then an average of $19 million a season through 2016. Our previous rumors on the Cabrera contract front can be found here. 

Filed under: Detroit Tigers, Florida Marlins, _Polls