The Cubs and shortstop Starlin Castro finalized the language in the seven-year, $60 million contract extension that has been agreed to in principal almost two weeks ago.
According to various reports and sources, the deal calls for a $6 million signing bonus and a $1 million buyout on the eighth-year, $16 million club option for 2020; and it does not include a no-trade clause.
Castro, already a two-time All-Star and 2011 National League hits leader, doesn't turn 30 until the final week of March just ahead of the option season.
Castro, who makes $567,000 in this final season before he would have been eligible for salary arbitration, reportedly makes $5 million each of the first two years of the contract, then $6 million, $7 million, $9 million, $10 million and $11 million. Performance clauses can escalate salary levels on the back end.