The Marlins and right-hander Sandy Alcantara are closing in on a five-year contract extension that guarantee the CAA Sports client more than $55MM, reports Craig Mish of SportsGrid and the Miami Herald.

Alcantara, 26, has been in extension talks for months — dating back to July when reports of negotiations first surfaced. While the Marlins’ first overtures were said to be low enough that Alcantara’s camp considered them a nonstarter, a $55MM+ guarantee would be a record extension for a pitcher with between three and four years of Major League service time.