(CNN) Manny Machado, who spent the 2018 Major League Baseball (MLB) season with the Los Angeles Dodgers, has agreed a record-breaking $300 million deal with the San Diego Padres, according to reports.

If confirmed, the franchise's 10-year agreement with the 26-year-old would be the most expensive contract ever signed by a free agent in American sports history, with Machado having gone unsigned since the end of last season. It would surpass the decade-long $275 million contract that Alex Rodriguez signed in December 2007.

The deal, which is said to be dependent on the outcome of a medical, would also place as the third highest in sporting history for any individual sports contract, behind fellow baseball player Giancarlo Stanton's $325 million deal with the Miami Marlins in 2014 and boxer Canelo Alvarez's $365 million arrangement with sports broadcaster DAZN.

Machado was part of the Los Angeles Dodgers team beaten by the Boston Red Sox in the 2018 World Series.

Machado, who played a key role in the Dodgers' run to the 2018 World Series after joining the team in July, had previously represented the Baltimore Orioles for six years.

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