Jake Arrieta and the Chicago Cubs agreed to a $10.7 million 2016 salary, the largest one-year contract for a second-time arbitration eligible pitcher last Feb. 5, as reported by the Associated Press. Arrieta made only $3.63 million last season with the Cubs offering $7.6 million this year before agreeing to the new deal.

ESPN confirmed the AP report and noted that Cubs President of Baseball Operations Theo Epstein was confident that the team and the pitcher will agree on a deal before it reaches a hearing. Arrieta led the Cubs to 97 wins last season on his way to earning the 2015 NL Cy Young Award.

"I think, you know, in this case, if you focus on the spread, you're kind of missing the story, which is that I think it provides a lot of room for further discussion," Epstein said.

Now that the 2016 salary is settled, both sides should try to talk about a long-term extension, according to Bruce Levine of CBS Chicago. He noted that the Cubs and Arrieta should take a levelheaded approach in terms of a new contract since the player's agent is Scott Boras.

Levine added that the 29-year-old right-hander is under club control until the end of the 2017 season, but is going to turn 30 soon and will look to get his first long-term contract to provide security for his family. However, the Cubs might observe his performance for the upcoming season before handing out a multi-year contract.

Arrieta has proven since being acquired by the Cubs last 2013 that he is the real deal. He has posted a record of 36-13 in 67 starts with a 2.26 ERA since arriving in Chicago. He also proved that he is a workhorse by pitching 248 2/3 innings last season, per Baseball Reference.

In his Cy Young-winning season last year, he went 22-6 with a 1.77 ERA plus 92 more innings pitched than his previous high. Levine suggested that the two sides may work out a four-year, $85-90 million deal with two club options that could add another $50 million.

It is also noted that the Cubs should offer a longer-term deal now because it's better to pay a pitcher in his prime age of 30 to 34 rather than age 35 and up where pitching skills usually go out of the window. Another factor is Cubs pitching coach Chris Bosio who managed to improve Arrieta's career after a failed first few years with the Baltimore Orioles. Boras is also a factor as he will try to get his client a better deal before he hits free agency.