The Detroit Tigers have agreed to terms with Miguel Cabrera on a new 10-year contract extension worth $292 million, according to a source.

The new deal covers the two years remaining on Cabrera's current contract and eight additional seasons. It is expected to become official later this week when Cabrera is able to complete a physical.

The agreement also includes two vesting options worth $30 million apiece for years 11 and 12 that could bring the total of the deal to $352 million, according to multiple reports.