The Toronto Blue Jays and Vladimir Guerrero Jr. have agreed to a 14-year, $500 million contract extension, multiple media outlets reported Sunday.

The deal reportedly includes no deferred money, making it the second-highest contract in present value in the majors, surpassed only by Juan Soto's 15-year, $765 million deal which was reached in December.

Guerrero, a four-time All-Star and the MVP runner-up in 2021, was set to become a free agent at the end of the season. By locking him up now, Toronto avoids the risk of getting into a massive bidding war on the open market.

For his career, the 26-year-old has 160 home runs, 511 RBIs, and a .287 batting average in 829 games. Last season, he hit 30 home runs and drove in 103 RBIs with a .323/.396/.544 batting line.

In 10 games this season, Guerrero is hitting .256 with no home runs four RBIs.