General Manager James Click and Alvarez were front and center for a news conference Monday to announce the designated hitter's six-year deal. During the same event, the club revealed that Alvarez was also named American League Player of the Week.
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Alvarez and the 'Stros returned home after going 6-3 during a nine-game road trip. A handful of those games best displayed the power and hitting consistency that the Astros are reportedly willing to invest $115 million on.
The video above is from a previous report.
In a six-game span during the road trip, No. 44 crushed four home runs, measuring 426, 444, 456, and a career-high 469 feet. All combined, Alvarez managed to launch one-third of a mile's worth of long balls.
Alvarez also flirted with hitting the Astros' first cycle since 2013. He was a double shy of the single-game accomplishment during Houston's win over Kansas City on Sunday.
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The Cuba native, who turns 25 on June 27, is earning $764,600 this current season, which is actually a raise from the $609,000 he earned last season.
In an Associated Press report, his new deal calls for a $5 million signing bonus payable with 30 days of the contract's approval by Major League Baseball and salaries of $7 million next year, $10 million in 2024 and $15 million in 2025, covering his three years of arbitration eligibility.
Álvarez receives $26 million annually from 2026-28, when he would have been eligible for free agency.
His salary can escalate from 2024-27 based on finish in MVP voting $1.5 million for first, $750,000 for second and $750,000 for third. The increase would apply to all subsequent seasons.
For 2027 and '28, Álvarez gets a limited no-trade provision allowing him to list 10 teams he cannot be dealt to without his consent.
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Alvarez's 16 homers puts him in a tie for second-most in the Majors and second-most in the American League.
And to remind Astros fans how the team got here with someone who will be a sure-fire All-Star selection this season, Houston acquired the then-unknown Alvarez in a 2015 trade with the Dodgers, shipping out relief pitcher Josh Fields, who is currently out of baseball.
ESPN and the Associated Press contributed to this report.
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