The Chicago White Sox have agreed to a three-year, $50 million contract extension with first baseman/designated hitter Jose Abreu, the club announced on Friday. Abreu, who turns 33 in January, had accepted the one-year, $17.8 million qualifying offer from the the White Sox last week. The new deal will replace the qualifying offer.

Under the terms of the new contract, Abreu will receive a $5 million signing bonus, $11 million in 2020, $16 million in 2021 and $18 million in 2022 with $4 million deferred, according to the club's press release.

"From the moment he stepped into the major leagues, Jose Abreu has been a leader on the field and in the clubhouse," said White Sox general manager Rick Hahn in the club's official press release. "He has consistently delivered run production at a historic pace, and with each passing season, his leadership role within our clubhouse – with both American-born and Latin-American players – has repeatedly grown."

The announcement of Abreu's new contract comes just one day after the club announced the signing of top free agent catcher Yasmani Grandal.

Abreu, a three-time All-Star, hit .284/.330/.503 with 38 doubles, 33 home runs and a career-high 123 RBI in 159 games last season. His 123 RBI led the American League, and he became just the second player  (Dick Allen, 113 RBI in 1972) in White Sox franchise history to finish the season as the RBI-leader. Since his AL Rookie of the Year campaign in 2014, Abreu has recorded 30 or more doubles in each of the last six seasons. Colorado Rockies third baseman Nolan Arenado is the only other player in MLB to accomplish the feat.

"This is a dream come true for me and my family," Abreu said in the team's press release. "To the fans, I told you I would come back. I never doubted it. Everybody knows the group of talented players that we have, and I want to help guide them and together make the Chicago White Sox a championship team."

With Abreu signed through his age-35 season, it's likely that he'll end his career with the White Sox, the club that signed him as an amateur free agent in 2013. He'll be a veteran presence in the clubhouse for the next three seasons, supporting the core group of young players like Eloy Jimenez and Tim Anderson, as the White Sox continue to make the transition from rebuilder to contender.