Aaron Judge New York Yankees
Aaron Judge #99 of the New York Yankees hits a home run during the eighth inning against the Boston Red Sox at Fenway Park on September 13, 2022 in Boston, Massachusetts. Maddie Meyer/Getty Images

The New York Yankees are prepared to make Aaron Judge the highest-paid position player in MLB history, on a per-year basis. The Yankees offered the reigning American League MVP a contract worth around $300 million over eight years, ESPN's Jeff Passan reports.

Such a deal would pay Judge a record $37.5 million average annual salary. Mike Trout owns the current record for non-pitchers with a $35.5 million average annual value for his 12-year, $426.5 million deal.

The Yankees could increase their contract offer to Judge if another suitor presents a more lucrative deal to the outfielder. Judge has already met with the San Francisco Giants, which are viewed as the biggest threat to lure Judge away from New York.

Judge turned down a seven-year, $213.5 million offer before the start of the 2022 season. The Yankees increased their offer significantly after Judge set the AL single-season record with 62 home runs.

The $300 million deal would only be the third-largest contract of any player on the Yankees. Gerrit Cole joined the Yankees for the 2020 season on a nine-year, $324 million contract. Giancarlo Stanton's $325 million contract runs through the 2028 season with a team option, though it includes a $25 million average annual salary.

Cole is currently the second-highest paid player in baseball at $36 million per season. Max Scherzer has two years left on his $130 million contract. The New York Mets pitcher makes $43.3 million per season, for the highest annual salary in the history of the sport.

Judge is poised to become the 10th baseball player to ever sign a contract worth at least $300 million. Bryce Harper's $330 million deal over 13 years is the biggest contract ever to be signed by a player who hit free agency, as far as total money goes.

Judge will turn 31 years old on April 26.

According to SNY MLB Insider Andy Martino, the bidding for Judge may not be a long process. Judge is expected to make a decision about his future well before the end of the year, if not by the time the Winter Meetings conclude.

The Winter Meetings run from Dec. 4-7 in San Diego.