Ken Rosenthal of FoxSports.com says the extension will be for $12.5 million over four years. In addition, there will be two club option years valued at $6 million and $6.5 million. Thus, the deal could be worth up to $25 million over six years.
Altuve would have been eligible for arbitration for the first time following the 2014 season. His new deal will buy out all three years of arbitration as well as up to two years of free agency, depending on if the club options are picked up.
The speedy Altuve has hit .280/.317/.354 this season with 21 stolen bases. His 2013 wOBA and OPS are each third to last in the majors among qualified second basemen.
During his first full major league season in 2012, Altuve hit .290 with a .340 OBP and 33 stolen bases. He also scored 80 runs. Altuve also became a fan-favorite due in part to his short stature. The diminutive Altuve stands at just 5'5.
The Astros began the 2013 season with the lowest payroll in the major leagues with just $24.3 million in salary obligations to start the year.