The Arizona Diamondbacks have reached an agreement on a five-year deal with left-hander Madison Bumgarner, according to ESPN MLB Insider Jeff Passan and Ken Rosenthal of The Athletic:

There was a feeling within the industry that Bumgarner would sign for in excess of $100 million after the free-agent contracts signed by Zack Wheeler, Stephen Strasburg and Gerrit Cole.

Instead, Bumgarner gets $85 million with deferrals, which is most likely the component that convinced him to sign with the Diamondbacks.

The longtime San Francisco Giants ace proved he was fully healthy in 2019, tying a career high with 34 starts. Bumgarner posted a 3.90 ERA, but he did post his highest K/9 rate since 2016 (8.8) and surpassed the 200-inning mark for the seventh time in his career.

Arizona was not expected to be a major player in free agency, and yet they struck on one of the more coveted pitchers still available. Bumgarner gives the Diamondbacks a legitimate frontline guy alongside the likes of youngsters Luke Weaver and Zac Gallen.

The Diamondbacks won 85 games last year and repositioned at the trade deadline by trading ace Zack Greinke to the Houston Astros for a number of top-level prospects. They also actually came out on the winning end of the Paul Goldschmidt deal, as Carson Kelly looks to be one of the more valuable young catchers in baseball while Weaver was excellent when healthy.

Signing Bumgarner could also suggest that Arizona is indeed shopping left-hander Robbie Ray, who is in a walk year but could still get a haul because of the need for starting pitching.

Can Madison Bumgarner help the Diamondbacks compete next season? That remains to be seen, but he has certainly shaken up the market by heading to Arizona.