That’s according to a report from ESPN.
The agreement is said to include a five-year $124 million contract extension.
It also has a no-trade clause.
Ramirez is guaranteed $150 million.
This comes after reports that the San Diego Padres were trying to trade for Ramirez before opening day.
The 29-year-old is a three-time All-Star and three-time Silver Slugger, hit .266 with 36 home runs and 103 RBI in 2021.
The Guardians’ home opener is April 15 at Progressive Field.