The Milwaukee Brewers are in agreement with outfield prospect Luis Lara on a seven-year, $31 million extension, multiple outlets reported Tuesday.

The contract with the 21-year-old Venezuelan begins this season and includes three club options, potentially taking the deal through 2035.

The extension could max out at $78 million if Lara reaches all the incentives, a source told the Milwaukee Journal Sentinel.

Lara is ranked No. 5 among Milwaukee's prospects and No. 91 among all major league clubs by MLB Pipeline.

He is batting .338/.447/.500 with seven homers, 27 RBIs and 18 stolen bases in 56 games this season at Double-A Nashville.

The Brewers have signed similar long-term deals with up-and-coming prospects before, including outfielder Jackson Chourio in December 2023 and current minor league shortstop Cooper Pratt in April.