9:30am: Ken Rosenthal of FOX Sports notes that this contract "immediately prompted questions within the industry." Scott Boras just has a knack for getting teams to overpay, as you know.
TUESDAY, 12:09am: Ed Price of AOL FanHouse says the deal pays Pudge $2.5-3MM per season.
11:41pm: MLB.com's Bill Ladson says it's almost certain that Wil Nieves will be non-tendered now.
11:30pm: Jon Heyman of SI.com reports (via e-mail) that the deal is done, pending a physical.
MONDAY, 11:20pm: The Nationals agreed to sign Ivan Rodriguez to a two-year deal worth $6MM, according to Yahoo's Tim Brown. The Rangers will obtain a supplementary rounder in next year's draft because Pudge signed elsewhere after they offered arbitration.