The Indians and reigning AL Cy Young Award winner Corey Kluber have agreed to a five-year contract extension, which includes two option years, according to CBSSports.com Baseball Insider Jon Heyman. The deal, which is set to pay Kluber $38.5 million guaranteed, is complete pending a physical.

Kluber signed a one-year agreement during the offseason to avoid arbitration with the intentions of signing a long-term deal. The details of the contract have yet to be released.

Kluber posted an 18-9 record with a 2.44 ERA and 262 strikeouts in 2014, leading to the Cy Young Award.