According to Jon Heyman of CBS, Posey's deal is an 8-year extension that will pay him a grand total of $167M over the course of the next 9 seasons.
Posey won the NL MVP last year, and also helped lead the Giants to World Series championships in both 2010 and 2012.
As Heyman notes, this deal has some pretty significant historic ramifications:
As Heyman points out, it's the longest deal ever for a catcher, and is by far the largest deal ever given to a player with less than 3 years service time.
Posey had set a deadline of opening day to get a deal done, so the Giants came in just under the deadline with this deal.
After Justin Verlander's monster deal, where do you think this contract lies on the spectrum? Good deal? Bad deal? Or somewhere in between?