Mar 02, 2010 3:50 PM EST

The Arizona Diamondbacks are closing in on a six-year contract with outfielder Justin Upton, a baseball source confirmed Tuesday and the deal could be announced as soon as Wednesday.

FOXsports.com reported that the deal will be worth in the $50 million range.

As per team policy, the D-backs declined to comment on any extension discussions.

Via MLB.com