03/27/2014 09:16 EDT | Updated 05/27/2014 05:59 EDT

Miguel Cabrera, Tigers agree to long-term extension: report

Miguel Cabrera is set to remain in Detroit for at least 10 more years.

According to multiple reports, the Tigers slugger agreed to a 8-year contract extension that would net him $248 million US and could turn into a record deal of more than $300M if combined with the two years remaining in his current contract, plus options for years 11 and 12. 

The two-time defending American League MVP signed a $152.3-million deal with Detroit in 2008 and has been the most consistent hitter in the game since, hitting for .327 with 227 homers.

The 30-year-old also became the first Triple Crown winner since 1967 after accomplishing the feat during the 2012 campaign. 

Cabrera's deal comes after the Tigers failed to re-sign reigning AL Cy Young award winner Max Scherzer, who turned down an extension and decided to put all contract discussions on hold to avoid distractions heading into the new season.