This is rather big news.

According to multiple reports, Mookie Betts and the Red Sox have reached a settlement worth $20 million to avoid arbitration. Like Passan mentioned in the tweet above, this agreement sets a new standard for players of Mookie’s caliber.

The salary is now a record for a player that is in his second year of arbitration eligibility. If Betts and the Red Sox couldn’t reach an agreement by 1 p.m. today, it would have been the second straight year that the two sides couldn’t agree on a salary and go on to the hearings. Instead, the sides worked out a deal and the former-MVP received a pretty nice raise.

Photo Credit: USA Today