Brewers, No. 5 prospect Lara agree to 7-year contract (source)

LAS VEGAS -- For the second time this season, the Brewers are investing big in a player who has yet to step foot in the Major Leagues.

The latest prospect from Milwaukee’s top-ranked farm system to get a major payday is 21-year-old, switch-hitting outfielder Luis Lara (the Brewers' No. 5 prospect, No. 91 overall), who has agreed to a seven-year contract with three club options that will guarantee about $31 million when finalized, a source told MLB.com.

The Brewers did not confirm the deal, which was first reported by Spencer Michaelis, a podcaster and contributor to the fan site Brewer Fanatic.

Lara’s agreement positions the native of San Felipe, Venezuela, alongside Jackson Chourio and Cooper Pratt as Brewers phenoms who were locked down on long-term contracts while they were still Minor Leaguers.

Lara’s new contract covers 2026-’32, with club options for ‘33-’35. According to a Brewers source, it maxes out at $78 million with all incentives, including for MVP Awards, and could realistically net north of $63 million if all of the options are exercised and Lara performs at a star level over the course of the contract.

First, however, he will have to earn his way to the big leagues. While the contract does place him on Milwaukee’s 40-man roster, it does not mean an immediate callup.

Lara’s agreement comes two months after the Brewers and Pratt (Milwaukee's No. 4 prospect, No. 63 overall) signed an eight-year deal north of $50 million in April, and two and a half years after the Brewers and Chourio inked an eight-year, $82 million pact at the 2023 Winter Meetings that set a record for a player who had yet to appear in MLB, and set the stage for a number of similar agreements across the sport.

It’s been a breakout season for Lara, who stands 5-foot-7 but has transformed from a speed, defense and contact player into a power threat, with a .947 OPS, 17 extra-base hits and 18 stolen bases in his first 56 games with Triple-A Nashville.

News of the extension explains Lara’s recent absence from the Nashville lineup while the finishing touches were put on the deal. He was in Milwaukee over the weekend for a physical exam.