Newly-acquired third baseman Matt Chapman and the Toronto Blue Jays have agreed to a two-year, $25 million extension, ESPN's Jeff Passan tweets.

The deal buys out Chapman's final two years of arbitration and will make him a free agent and the end of the 2023 season. 

Passan adds that he did not give up any free agent years in the deal and achieves cost certainty for both him and the Jays going forward.

A former All-Star in 2019, Chapman was acquired last week in a deal with the Oakland Athletics in exchange for pitchers Gunnar Hoglund, Kirby Snead and Zach Logue as well as shortstop Kevin Smith.

The Victorville, Calif., native hit 27 home runs last season while driving in 72 runs and slashing .210/.314/.403 in 151 games for the A's. He is also a three-time Gold Glove Award winner and a two-time Platinum Glove Award winner.