Felix Hernandez and the Seattle Mariners are working on a seven-year, $175-million contract that would make him the highest paid pitcher in baseball, the Associated Press reports.
Seattle would add $134.5 million of guaranteed money over five years to the contract of the 2010 AL Cy Young Award winner, whose current agreement calls for him to receive $40.5 million over the next two seasons.
Hernandez, 26, became the first Seattle pitcher to throw a perfect game in a 1-0 win over Tampa Bay last August.
Hernandez is 98-76 with a 3.22 ERA in eight seasons with the Mariners. He won a career-high 19 games in 2009 when he finished second in the Cy Young voting then won the award a year later when he went 13-12 with a 2.27 ERA and 232 strikeouts.