Miguel Cabrera set to earn record $292 million with Detroit Tigers

The Detroit Tigers have made triple crown winner Miguel Cabrera a very rich man.

The All-Star third baseman is slated to earn a major-league record $292 million over the next 10 years as part of a new contract announced by the Tigers on Friday.

Cabrera’s new contract for $248 million incorporates the $44 million he was set to earn under his the final two years of his previous contract with the Tigers. Cabrera will make more than New York Yankees third baseman Alex Rodriguez made over a decade-long period when he signed a 10-year, $275-million deal in 2007.

Cabrera’s new payout total also eclipses the brief record Dodgers ace Clayton Kershaw held for highest annual earnings when he signed a seven-year, $215-million contract in January. Cabrera will make an average of $31 million per season, surpassing Kershaw’s annual pay of $30.7 million.

According to the Associated Press, Cabrera will make $43,195 per plate appearance based on his average of 676 plate appearances each season with the Tigers. The average annual U.S. wage in 2012 was $42,498, according to the Social Security Administration.

The two-time defending American League MVP has a .321 batting average with 365 home runs and 1,260 runs batted in during his career. He won the triple crown in 2012, becoming the first player since Hall of Famer Carl Yastrzemski achieved the feat in 1967.

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