By Evan Brunell

Matt Kemp has agreed to a contract extension with Los Angeles for the next eight years, CBSSports.com's Scott Miller confirms. The deal is done, pending the outcome of a physical exam.

Kemp is set to earn $160 million on his deal with the Dodgers, which will tie Mark Teixeira for the fifth-richest contract ever signed. The deal would also become the most expensive deal in team and NL history. Teixeira's deal with the Yankees is also for eight years, running through 2016.

One interesting aspect to this deal is that the owner responsible for signing Kemp in Frank McCourt won't be around to pay the center fielder. McCourt is set to sell the Dodgers after coming to an agreement with MLB to do so, bringing to a close a saga that has plagued baseball since McCourt and his wife had an ugly divorce. Still, the incoming owner is likely to be thankful for the deal, as the Dodgers also have right fielder Andre Ethier set to be a free agent after 2012. As one of the better players in baseball, re-signing Kemp was a no-brainer although it cost a pretty penny to do so.

Previously, Kemp's agent, Dave Stewart, said that it was important for Kemp to be paid and be considered among the elite players at his position. After bouncing back from a poor 2010 to join the 30-30 club and miss out on 40-40 by one homer, Kemp certainly earned the money, but is it too much? Kemp has spent six seasons in the majors, exactly three of which delivered on expectations. It was just one year ago that Kemp, coming off a down year, was thought to have a lot to prove. Apparently, he's proven worth $160 million. With the extension, Kemp would no longer be a part of the free-agent class next winter. Fox Sports' Ken Rosenthal earlier reported the possibility of such a deal.

The Dodgers are also set to sign second baseman Mark Ellis to a two-year deal.

Check out CBSSports.com's Free Agency Tracker.

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