A source says Aaron Judge will sign a $360m, nine-year contract with the Yankees.
The source told the Associated Press, and ESPN and MLB Network reported Judge's new contract. Judge will make $40m per season, the most for a position player.
It trails only Mike Trout's $426.5m Angels contract and Mookie Betts' $365m Dodgers contract as baseball's largest. The latter two players have 12-year contracts and earn less than Judge.
Before last season, New York offered Judge a $213.5m, seven-year contract from 2023-29. He declined in the hours before April's opening.
The 6ft 7in Judge won a self-bet. He led the Yankees to the AL East victory in 2022 with 62 homers, an AL record. He tied for the big league lead with 131 RBIs and missed a Triple Crown with a.311 batting average.
The Yankees lost the ALCS to Houston, but Judge became their first AL MVP since Alex Rodriguez in 2007.
The 30-year-old earned $146.5m and two guaranteed seasons by rejecting the Yankees' preseason offer. The northern California native visited the San Francisco Giants last month, and additional organizations were likely watching the slugger.
Multiple teams and free agents will be affected by Judge's judgment. New York's offseason plans were hampered by Judge's condition, but general manager Brian Cashman said the organization would wait to see what he did.