Boston Red Sox's Rafael Devers watches his RBI-single against the Tampa Bay Rays during the third inning of a baseball game Monday, Sept. 5, 2022, in St. Petersburg, Fla. Credit: Scott Audette / AP

After trading Mookie Betts and letting Xander Bogaerts walk in free agency, the Red Sox will not let history repeat itself by letting a third homegrown star get away.

Boston has reached an 11-year, $331 million contract extension with star third baseman Rafael Devers, a source confirmed to MassLive early Wednesday evening. The agreement was first reported by USA Today’s Bob Nightengale and former MLB player Carlos Baerga (on Instagram). Devers’ deal, which begins in 2024, is not yet finalized, as the physical process has not yet begun, according to ESPN’s Jeff Passan. It’s currently unclear if the deal includes any opt out clauses or no-trade protection.

Devers’ deal, which is expected to run from 2024 through 2034, is the largest in Red Sox franchise history. It comes on top of Devers’ $17.5 million agreement for 2023, meaning he will earn $348.5 million over the next 12 years. The 26-year-old Devers will earn just over $30 million on an annual basis over the course of the deal, which expires when he reaches the season he turns 38. Devers’ deal will be the sixth-largest in major-league history by total value.

Devers, a veteran of six major league seasons, has established himself as one of the best third basemen in the game since debuting in 2017. He owns a career .283 average while hitting 139 home runs and driving in 455 runs over 689 career games.

Story by Chris Cotillo,