The Chicago Cubs agreed to a one-year, $10.7 million contract with Jake Arrieta, but a long-term deal may make sense for both sides as the 2016 season approaches.

Arrieta will not be a free agent for two more seasons.

Bruce Levine of CBS Sports projects that Arrieta could sign a four-year deal worth in the range of $85 to $90 million with two club options that could add another $50 million to the right-hander's haul.