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According to multiple reports, the final details have been worked out, and Starlin Castro could sign his big extension as soon as today.

The Cubs and Castro have been working on the extension for some time now, as the young shortstop approaches his first of four arbitration years in 2013.

Although the particulars of the extension so far have been limited in reports to seven years and $60 million (with an option year at the end), Ken Rosenthal last night reported more details. According to Rosenthal, the deal will be structured as follows: $5 million in 2013, $5 million in 2014, $6 million in 2015, $7 million in 2016, $9 million in 2017, $10 million in 2018, and $11 million in 2019. He gets a $6 million signing bonus (which is a nice use of this year’s unused funds), and the deal comes with a team option in 2020 for $16 million (or a $1 million buyout). So, the basic contract is seven years and $60 million or eight years and $75 million.

Rosenthal adds that Castro is going to receive performance incentives in the form of an MVP provision – if he wins an MVP award or finishes in the top five twice, the final two years of his deal increase by $2 million each.

Gordon Wittenmyer reports, separately, that the deal is not expected to include a no-trade clause, which would obviously be a huge (non)addition.

All in all, a great deal for both sides, particularly in the context of the increase in extensions and escalating salaries after the implementation of the new CBA.

When the deal becomes officially official, I’ll update you on the official officials of the official.

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