The Mets and Johan Santana have agreed to a contract extension, which all but guarantees Johan Santana will be playing for the Mets in 2008 and beyond.

The deal was agreed to after the 5 PM deadline established by Major League Baseball, however, as reported earlier, the Mets were given an extension because the deal was close to done at the deadline.

The deal is rumored to be in the neighborhood of 6 years and 137.5 million dollars, with an option for a seventh year. The rumored deal would make Santana the highest paid pitcher in baseball history, and the highest paid player on the Mets.

The final step in the process will require Santana to pass a physical before he is officially a Met.