HOUSTON (KIAH) — The Houston Astros made it official and announce that outfielder Jordan Alvarez has signed an extension with the team through the 2028 season.

Terms were not disclosed by the team, but The Associated Press reports that the deal is around $115 million.

The 24-year-old gets a $5 million signing bonus and salaries of $7 million next year, $10 million in 2024 and $15 million in 2025, covering his three years of arbitration eligibility. Álvarez gets $26 million annually from 2026-28, when he would have been eligible for free agency.

In 2022, Alvarez currently ranks second in the American League in home runs (16), third in OPS (.972), tied for third in slugging pct. (.592) and eighth in RBIs (34). Alvarez is also hitting a club-best .295 currently. On the Astros just-concluded, 9-game road trip, Alvarez hit a scorching .486 (17-for-35) with four home runs and nine RBIs while posting a 1.453 OPS (.538 OBP, .914 SLG). The Astros went 6-3 on the trip.

Additionally, Alvarez leads the majors in hard-hit percentage (65.2%) this season. OF Aaron Judge is second (61.5%).

The Astros and Alvarez is scheduled to hold a press conference on Monday announcing the new deal, hours before the team opens a six-game homestand this week, first against the Seattle Mariners.

Álvarez hit .277 last year and set career highs with 33 homers and 104 RBIs. He’s hitting .295 with 16 homers and 34 RBIs this year, all team highs.

The Associated Press contributed to this report.