Strasburg agrees to seven-year, $175 million extension with Nats (updated)

Right-hander Stephen Strasburg has reportedly agreed to a long-term extension to remain with the Nationals, according to multiple published reports.

The Washington Post was first to report the news of the deal. MLB Network's Jon Heyman reported that the deal was for seven years and $175 million, and is expected to include opt-out clauses, performance bonuses and deferred money.

Update: MASNsports.com's Mark Zuckerman has confirmed through a source familiar with the deal that Strasburg will get a seven-year, $175 million extension that includes an opt-out clause after the third or fourth year of the deal. The extension is expected to be announced Tuesday afternoon.

A Tuesday press conference will reportedly be held, though the Nationals have not yet confirmed that Strasburg has signed an extension nor announced any press briefing.

Strasburg started Monday's game against the Tigers, and is off to his best start of his career, going 5-0 with a 2.36 ERA in six games in what began as his walk year. He battled injuries to finish 2015 strong and has been the Nationals top starter in the first month of this season.

Strasburg was the No. 1 overall selection in the 2009 First-Year Player Draft by the Nationals. He has won 60 games in his first 138 games with the club.

Had he entered free agency next offseason, Strasburg would have been the top name in a class that is set to include Mets outfielder Yoenis Cespedes (who can opt out of the three-year deal he signed last winter), Blue Jays sluggers Edwin Encarnacion and Jose Bautista, Dodgers closer Kenley Jansen and Yankees closer Aroldis Chapman.

Next winter's free agent group is thin on starting pitchers, which means Strasburg would have made a bundle on the open market.

Nationals general manager Mike Rizzo, asked at the Winter Meetings in Nashville if he would engage Strasburg and agent Scott Boras on talks about a long-term extension, said:

"We've always tried to think about our core players, to extend them to contracts. We tried to with several of the players that have left us for free agency in the past. I can see we would do the same for him."