The New York Mets and ace right-hander Jacob deGrom have agreed to a contract extension, the team announced Tuesday.

According to Joel Sherman of the New York Post, the contract is worth $137.5 million over five years, beginning in 2019. It also includes a full no-trade clause and contains both an opt-out after the 2022 season and then a $32.5-million team option for 2024.

DeGrom will also receive a $10-million signing bonus in 2019. If the team option is exercised, the total value of the deal will rise to $170 million over six years.

Reported contract breakdown

Year Salary 2019 $7M+$10M signing bonus 2020 $23M 2021 $33.5M 2022 $33.5M 2023* $30.5M 2024** $32.5

* Can opt out before 2023 season

** Team option for 2024

Breakdown courtesy: Joel Sherman

Mets chief operating officer Jeff Wilpon released the following statement acquired by Matt Ehalt of Yahoo Sports:

"This is a tremendous day for Jacob, his family, our fans, and the entire Mets organization. Last year, Jacob had one of the most remarkable seasons in baseball history & we are excited to...reward him. Mets fans can celebrate knowing their ace will remain in Flushing.”

The deal is similar to the recent extension signed by Boston Red Sox ace Chris Sale, who inked a five-year, $140-million contract. Both pitchers can opt out after the 2022 season, and DeGrom will earn $107 million prior to that time compared to Sale's $105 million.

The deGrom contract matches Johan Santana's for the most guaranteed money ever given to a Mets pitcher, and is second only to David Wright's ($138 million signed in 2012) for any Mets player, according to Anthony DiComo of MLB.com.

DeGrom, the reigning NL Cy Young Award winner, said earlier this offseason he wouldn't sign an extension after Opening Day, and despite his waning expectations, a deal ultimately got completed just two days before the start of the season.

Last year, deGrom went 10-9 with a 1.70 ERA and a 0.91 WHIP, solidifying his status as the top pitcher in the Mets' rotation alongside Noah Syndergaard, Zack Wheeler, and Steven Matz.