Bob Nightengale of USA Today reported the news, noting Springer will be paid $12 million each of the next two seasons.
Springer, 28, had asked for a $10.5 million salary for the 2018 season. The Astros offered $8.5 million, setting up a potential showdown with an arbitrator.
A $12 million salary is a substantial bump for 2018 but prevents a second arbitration meeting next winter, in which Springer could have commanded another major increase in salary—thus costing the Astros more money in the long term.
Springer hit .283/.367/.522 with 34 home runs and 85 runs batted in last season. He saved the best stretch of his career for the postseason, belting five home runs and driving in seven runs on his way to winning MVP honors during the Astros' World Series win over the Los Angeles Dodgers.
The Astros now boast the regular-season (Jose Altuve) and World Series (Springer) MVPs as they head into 2018 season.
Locking both up over the long term might be their next course of action. Houston has a team option on Altuve for the 2019 season, but he can become an unrestricted free agent the following winter. The Astros in all likelihood would prefer to lock him up before competing with teams on the open market. Springer is arbitration-eligible again in 2020, but it would probably behoove the Astros to ink a long-term deal with him as well.
This move bumps up Springer's salary to keep him satisfied for now while the team figures out its plans for the future.