The Giants today announced they have agreed to terms on an eight-year contract extension with catcher Buster Posey to keep Posey in San Francisco through 2021.
Posey and the Giants already had a one-year, $8 million deal for the 2013 season. The extension adds eight years to make it a nine-year deal.
The deal, worth $167 million, includes a club option for 2022.
The deal buys out Posey's remaining arbitration years and first five years of free agency. It is reportedly the largest deal in team history and longest ever for a catcher.
Posey, the reigning N.L. Most Valuable Player, hit .336 with 24 home runs and 103 RBIs last season while helping lead the Giants to their second World Series championship in three seasons.
Posey was also named the league's Comeback Player of the Year, having returned from a season-ending ankle injury sustained in May 2011. Both seasons he has played out with the Giants (2010 and 2012) have ended in World Series victories.
The Giants have scheduled a news conference later this afternoon regarding the deal.