The Houston Astros have reached an agreement with Alex Bregman over a new five-year extension worth $100 million, according to Houston Chronicle’s Chandler Rome. The third baseman was part of the Astros squad that won the World Series in 2017.

Initially, the reports claimed it was a six-year deal between Bregman and the Astros, but it was later clarified as being a deal for five years which will kick in only in 2020. The third baseman’s 2019 salary will not be covered by the new deal, but the new contract does buy out his three arbitration seasons and his first two years of free agency.

The 24-year-old will now be with the Astros through the 2024 campaign and the Astros restructuring his deal to five-years instead of six gives them room to make additions to their salary mid-season via trades. The five-year deal puts them $19.5 million shy of the $206 million luxury tax threshold, but a six-year deal worth $16.6 million would have given them just $3.5 million to play with during the campaign.

Alex Bregman
Alex Bregman signed an extension with the Astros worth $100 million. In this picture, Bregman #2 of the Houston Astros celebrates defeating the Cleveland Indians 11-3 in Game Three of the American League Division Series to advance to the American League Championship Series at Progressive Field in Cleveland, Ohio, Oct. 8, 2018. Gregory Shamus/Getty Images

Bregman posted .286/.394/.532 batting line with 31 homers, 51 doubles, four triples and 10 steals last season while also finishing fifth in the AL MVP award voting. The Astros are yet to confirm the deal for the third baseman, but it is likely to be announced in the coming days.

The Houston franchise has been busy this week, as Bregman is not the only player they have added to their roster. The Astros have reached an agreement with pitcher Ryan Pressly over a two-year extension worth $17.5 million, Ken Rosenthal of The Athletic reports.

The 30-year-old pitcher, who was originally selected by the Boston Red Sox in the 2007 MLB Draft, spent five seasons with the Minnesota Twins before being traded to the Astros in 2018. The new deal will buy out two years of free agency for Pressly, while ESPN’s Jeff Passan reports that there is an option in the deal that could even buy out a third free agent year.