Jansen's five-year contract includes a $4 million signing bonus and will pay out $10 million in its first two years, $18 million in its third and fourth years and $20 million in the final year of the deal, Jon Heyman of Today's Knuckleball reported. Jansen gets $1 million if he is traded and can opt out after the 2019 season, per Heyman.
Jim Bowden of ESPN and Ken Rosenthal of Fox Sports initially reported the deal on Dec. 12. Tim Brown of Yahoo Sports later reported Jansen chose the Dodgers over better offers from other clubs and has an opt-out clause after three years. The deal does not include a no-trade clause, per Rosenthal.
Jansen, 29, was excellent for the Dodgers in 2016, compiling 47 saves in 53 opportunities to go along with 104 strikeouts, a 1.83 ERA and 0.67 WHIP in 68.2 innings pitched. It was his fifth straight season with 25 or more saves and his third straight season with at least 35 saves.
He's established himself as one of baseball's better closers, ensuring a big payday was coming this winter. But he hinted at a desire to stay before the 2016 season concluded.
"L.A.'s nice. L.A.'s great. L.A. gave me the opportunity. L.A. converted me when I failed as a catcher," Jansen told Heyman in September. "I'm grateful about it and will never forget L.A. But at the same time, we'll have to see what's good for the family."
Ultimately, Jansen decided remaining in Los Angeles was the right move—and the Dodgers benefited.
Jansen will once again solidify the ninth inning for the team, meaning the Dodgers should again have an excellent pitching staff. If he can replicate his phenomenal form from the 2016 season, the Dodgers will have secured one of the best signings of free agency and should be a postseason contender again in 2017.
You can follow Timothy Rapp on Twitter.