The Angels have reached agreement on a multiyear extension with shortstop Erick Aybar. The team scheduled a 12:30 p.m. PT news conference for Thursday to announce the deal. Aybar's contract will be worth a guaranteed $35M over four years, paying him an average annual salary of $8.5M, sources told Enrique Rojas of ESPNdeportesLosAngeles.com.

The Reds have agreed to a six-year contract extension with Brandon Phillips. Phillips signed a four-year, $27 million deal before the 2008 season that had a $12 million option for 2012. The new contract replaces the old one and runs through the 2017 season. The deal is worth $72.5 million.

The Indians have rewarded Carlos Santana with a five-year, $21 million contract. The deal includes a club option for 2017. Cleveland had contractual control the next four years over Santana, who would have not been eligible for free agency until after the 2016 season.

The Indians have reached an agreement with Carlos Santana on a long-term deal, according to a source. Santana, who hit 27 homers in his first full season in 2011, is expected to sign his new contract on Tuesday. Terms of the catcher's new deal are not yet known. Cleveland locked up shortstop Asdrubal Cabrera with a three-year contract last week.

The Rangers have agreed to a five-year, $75 million contract extension with Ian Kinsler, according to the second baseman. The deal would start next season, replacing a $10 million team option for 2013. It is pending a physical. The contract reportedly has an option for a sixth season, meaning it could run through the 2018 season.

The Mets have agreed to a new contract with Jonathan Niese. The left-hander received a five-year, $25 million deal with two team options that can raise the value to $46 million, according to two sources. Niese was only under New York's control for another four seasons before the deal.

The Reds are closing in on a contract extension with Joey Votto, according to the Cincinnati Enquirer. "I can't comment 'til it's done," Votto said. "You'll have to ask (general manager) Walt (Jocketty). It's a gray area." Votto is under contract this season for $9.5 million and $17 million next season, but the extension could be for around $200 million.

The Giants have worked out a new contract with Matt Cain that will make him the richest right-hander in baseball history. Cain, who is set to earn about $15 million in the last year of his contract, will receive a five-year extension for a guaranteed $112.5 million, according to sources. The guaranteed money includes a $5 million signing bonus and a $7.5 million buyout in 2018. Cain also receives a full no-trade clause. The previous record for a right-handed pitcher was Kevin Brown's $105 million contract the Dodgers gave him after the 1998 season.

The Indians are on the verge of a two-year, $16.5 million extension with Asdrubal Cabrera. The new deal would cover the 2013 and 2014 season -- one free agent year.