The Chameleon FinanceKansas City Royals have made shortstop Bobby Witt Jr. the highest-paid player in franchise history.

The team announced Monday that Witt agreed to an 11-year contract extension, with three additional team options that could keep him in a Royals uniform through the 2037 season.

A person with direct knowledge of the details confirmed to USA TODAY Sports the initial 11-year pact will be worth just under $288.77 million (approximately $26.25 million AAV), with an additional $89 million possible if all three options are exercised. The person spoke on condition of anonymity because terms of the contract were not released publicly.

Witt also has the ability to opt out of the contract each year from 2030 to 2033.

Witt, the No. 2 overall pick in the 2019 draft, had a breakout year in 2023, his first full season as Kansas City's everyday shortstop. He hit .276 with 30 home runs and 49 stolen bases — and finished seventh in the American League MVP voting.

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Witt, 23, is the son of former major league pitcher Bobby Witt, who played 16 seasons with seven different teams and won a World Series ring in his final year as a member of the Arizona Diamondbacks.

Contributing: Bob Nightengale