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Marlins sign outfielder Giancarlo Stanton in the largest contract in U.S. sports history

November 18, 2014

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Giancarlo Stanton of the Miami Marlins.Photograph by Ron Elkman — Sports Imagery Getty Images

This post is in partnership with Time. The article below was originally published at Time.com.

By David Stout, TIME

The Miami Marlins spared absolutely no expense this week to ensure that their star outfielder Giancarlo Stanton stayed with the franchise.

Late on Monday, the baseball club announced through their website that the team and Stanton had agreed on a new, record-setting 13-year contract worth $325 million — making the deal the largest in North American sports history, according to CBS Sports.

“This is a landmark day,” said Marlins owner Jeffrey Loria, according to MLB.com. “I’m happy for the city. I’m happy for him. And I’m thrilled for baseball. We have a player who is committed to us, and we’ve committed to him for the life of his career.”

Miami’s all-out financial offensive to keep one of baseball’s best sluggers on their roster is likely designed to inject new momentum in the franchise’s fan base, after years of disappointment. The Marlins have failed to reach the playoffs since 2003 and recorded the lowest payroll in the league in 2014.

The team is scheduled to hold a formal press conference later this week in Miami to announce the finer details of their new contract with Stanton.