UPDATE - Ken Rosenthal of FOX Sports is reporting that Encarnacion's deal is for $29 million, not the $27 million initially reported. Rosenthal notes that the extra $2 million is in the form of a buyout for Encarnacion's $10 million club option for the 2016 season.

Source: Encarnacion deal with #BlueJays is $29M for 3 yrs, not $27M. Annual salaries of $8M, $9M and $10M, plus $2M buyout on $10M option.

— Ken Rosenthal (@Ken_Rosenthal) July 12, 2012

11:23 AM EDT - The Toronto Blue Jays have signed first baseman/designated hitter Edwin Encarnacion to a three-year, $27 million contract extension, the team has announced.

Blue Jays sign Edwin Encarnacion to 3yr $27 million contract extension with option for 2016 season.

— Blue Jays-Official(@BlueJays) July 12, 2012

Encarnacion’s new deal keeps him under team control through the 2015 season and includes a $10 million club option for 2016.

After being a productive but unspectacular offensive player over his first seven years in the majors, Encarnacion broke out in a big way this season. Over his 308 at-bats, the 29-year-old has hit at a clip of .295/.382/.565 with 14 doubles, 23 home runs and 58 RBIs.

Prior to reaching an extension with Toronto, Encarnacion was in the final year of his contract and set to hit the free agent market this off-season. The Blue Jays acquired Encarnacion from the Reds in July of 2009 in the trade that sent Scott Rolen to Cincinnati.

Over his eight years in the bigs, Encarnacion has maintained a line of .264/.341/.465.

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What do you think of Encarnacion's extension?

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