Miguel Cabrera and the Detroit Tigers have reached a preliminary agreement on a $152.3-million US, eight-year contract, according a person familiar with the deal.

The person spoke on condition of anonymity because the contract was not yet final. The third baseman must pass a physical before the agreement can be finalized.

Detroit Tigers' Miguel Cabrera saw his financial portfolio improve somewhat on Sunday by signing a $152-million US contract.
(Orlin Wagner/Associated Press)

Cabrera's average salary of $19,037,500 will be the fourth-highest in the major leagues behind Alex Rodriguez ($27.5 million), Johan Santana ($22,916,667) and Manny Ramirez ($20 million).

Detroit acquired Cabrera from the Florida Marlins during the winter meetings in a deal that also brought them pitcher Dontrelle Willis.