Albert Pujols is officially a member of the Los Angeles Angels after Major League Baseball and the players’ association confirmed and approved the terms of his 10-year contract and agreed its guaranteed value is $240 million.
The deal was reached in principle four weeks ago on the final morning of the winter meetings, but took a month to draft. The Angels and Pujols have signed a 10-year, personal-services agreement following the contract’s expiration or Pujols’ retirement. That deal will pay $1 million annually. Pujols will be paid separately for milestone accomplishments under a separate marketing agreement.