The Seattle Mariners and slugger Julio Rodriguez are finalizing a long-term contract extension that could be worth as much as an MLB-record $470 million, sources told ESPN's Jeff Passan on Friday.

Sources said the base deal, which includes the 2022 season, is for eight years and $120 million and runs through 2029. Depending on how Rodriguez performs in MVP voting in that span, the Mariners can, after the 2028 season, pick up an eight- to 10-year option worth anywhere from $200 million to $350 million -- potentially bringing the total value up to that record figure.