It appears the Cubs will have a new closer for the 2018 season.

Multiple reports say that Wade Davis has agreed to a three-year, $52 million deal with the Rockies. According to Yahoo's Jeff Passan, the contract would be the highest per-year deal ever for a relief pitcher and includes a fourth-year vesting option that could raise the total to $66 million.

Recently signed right-hander Brandon Morrow is the now likely candidate to replace the 32-year-old Davis as Cubs closer in '18.

The Cubs acquired Davis, who made $10 million last season, from the Royals in a trade for outfielder Jorge Soler on Dec. 7, 2016 and the right-hander went 4-2 with 32 saves in '17. Davis' 32 consecutive saves established a franchise record and the veteran was the Cubs' lone representative in the 2017 All-Star Game.

Cubs catcher Willson Contreras took to Twitter to congratulate Davis on his new deal, tweeting, "Wade davis I'm so happy for you and your family, You are a GREAT TEAMMATE. Thanks for what you did with @Cubs. Im really proud of you. Love you Brotha"

Davis had four saves during the Cubs' run in the '17 playoffs and in 28 career postseason games the veteran is 4-0 with a 1.40 earned-run average and eight saves. He won a World Series with the Royals in 2015.