One of the most dominant and dangerous position players in the game, Detroit Tigers third baseman Miguel Cabrera continues to put together a phenomenal professional career. While top-flight offensive talents across Major League Baseball including Seattle Mariners second baseman Robinson Cano, Toronto Blue Jays slugger Jose Bautista, Boston Red Sox designated hitter David Ortiz and Tampa Bay Rays talented third baseman Evan Longoria among others continue to perform at high levels, Miguel Cabrera’s abilities stand alone. And it’s because of those talents the 31-year-old superstar recently agreed to a massive record-setting contract.

According to CBS Sports, Cabrera – who earned back-to-back American League MVP awards the past two seasons – came to terms with the Detroit Tigers on a fresh 10-year, $292 million deal, a contract that is expected to become official by the end of the week pending a physical. The eight-time All-Star currently has two years and $44 million remaining on the current deal he signed back in 2008 but the added eight years and additional $248 million will up his earning total to a record fee. If the fresh contract is considered a one-piece, 10-year deal, Cabrera’s agreement will surpass the 10-year, $275 million mark Alex Rodriguez signed with the New York Yankees in the winter of 2007.

The only Major League player with 100 or more RBIs in each of the past 10 seasons, the former Florida Marlins star seems to get stronger as the years move along. Batting an unbelievable .348 last season in Detroit with 44 home runs and 137 RBIs, Cabrera earned his second-straight American League MVP award and his eighth All-Star Game nomination. Eclipsing the 100-RBI plateau and 25-home run mark 10 times in his eleven-year career, the Venezuela native has already solidified himself as one of the most dominant hitters in professional baseball and he still has bright days ahead of him.

In addition to the fresh 10-year deal, Miguel Cabrera has the ability to sweeten the pot in years 11 and 12. Included in the new contract are vesting options for the next two seasons, with each 162-game slate worth a whopping $30 million. If those figures come to fruition, the Detroit slugger could see the total value of his contract reach $352 million. These additional bonuses are based on various achievements and awards the third baseman captures during his time on the diamond.

Cabrera and Detroit open their 2014 MLB campaign on March 31 at home against the Kansas City Royals.