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Prince Fielder deal announced by Tigers

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The Tigers officially announced what we all already knew: They have signed Prince Fielder through 2020. The press conference is set for 2 p.m.

Tigers GM Dave Dombrowski said in the press release:

"Prince Fielder is one of the premier offensive players in the game of baseball and we are extremely excited to add an all-star caliber player like him to our lineup.

"The addition of Prince is a testament to the organization's continued commitment to fielding a championship club."

MLB.com's Jason Beck has an update on the money end on his blog.

Details of the contract are also coming out in the report - $23 million in each of his first two seasons, followed by a $24 million annual salary for the ensuing seven years. He also has plenty of incentives: $500,000 for AL MVP with $1 million if he's a repeat winner, $200,000 for second thru fifth place, $100,000 for top 10, $100,000 if he's an All-Star starter, $50,000 for a reserve spot, and $100,000 each for a Hank Aaron award, Silver Slugger, Gold Glove, or Sporting News or Baseball America postseason All-Star honors.