The Arizona Diamondbacks are betting big on Corbin Carroll.

The top prospect has agreed to an eight-year, $111 million contract that could keep the centerpiece of the Diamondbacks' future in Arizona for the majority of his career, according to MLB.com's Steve Gilbert. The deal reportedly contains a ninth-year option worth $23 million, plus salary escalators in the final three years.

The club confirmed the news later Saturday.

The deal's value is reportedly a record for a player with fewer than 100 days of MLB service time and no experience in a non-U.S. league, breaking the mark set by the $72 million contract Atlanta Braves outfielder Michael Harris II signed last season.

The nine-figure investment comes after only 32 career MLB games for Carroll, who got a cup of coffee in the final month of last season. The 22-year-old impressed in that limited opportunity, hitting .260/.330/.500 with four homers in 115 plate appearances.

That success has continued into this spring training, as Carroll was 6-for-18 with three extra-base hits and seven walks in 25 plate appearances entering Saturday.

Arizona drafted Carroll with the 16th overall pick in the 2019 MLB Draft and has since watched the speedy outfielder blossom into a future star. Carroll's rookie eligibility remains intact for 2023, and he is ranked by both Baseball America and MLB Pipeline as the No. 2 prospect in baseball, behind only the Baltimore Orioles' Gunnar Henderson.

The latter scouting service praises Carroll as a true five-tool player, highlighted by a maximum 80 grade on his speed, a 70 grade on his glove and a 65 hit tool.

Carroll is one of three top-15 prospects for the Diamondbacks, as ranked by MLB Pipeline. 2021 sixth overall pick Jordan Lawlar and 2022 second overall pick Druw Jones are both waiting in the wings but not expected to debut this year.

Why did the Diamondbacks extend Carroll, and why did he agree?

As reportedly constructed, Carroll's contract will tie him to Arizona through 2031 and potentially 2032 if the Diamondbacks exercise the team option.

Before the deal, Carroll would've been set to hit free agency after the 2028 season, so he has effectively traded up to four potentially lucrative seasons after free agency for the immediate security of a contract that should support him and his family for a long time.

Deals such as Carroll's — in which a young player who isn't yet arbitration-eligible signs a long-term extension for less money than he would likely receive years later in free agency — have become increasingly in vogue in MLB and are usually fantastic values for teams. The Washington Nationals did the same just one day earlier, signing young catcher Keibert Ruiz to an eight-year, $50 million deal.

As for Carroll, $111 million is life-changing money, and he stands to earn even more if he becomes great and stays great by age 32. The MLBPA has never been happy about this kind of deal, but players take them for a reason.