The Tampa Bay Rays are nearing an agreement on a three-year contract extension with Yandy Diaz, according to reports.

The three-year deal will be worth $24 million and includes a club option.

Diaz and the Rays were unable to agree to a 2023 contract prior to the arbitration salary filing deadline. The third baseman filed for $6.3 million and the Rays filed at $5.55 million. 

The three-year extension buys out Diaz's final two arbitration years and one free agent year with a club option for a second free agent year.