Report: MLB qualifying offer will increase to record-high $20.5M

Major League Baseball's qualifying offer will rise to approximately $20.5 million ahead of this offseason, reports the New York Post's Joel Sherman.

The total, which still needs to be agreed upon by MLB and the players' association no later than 10 days after the regular season ends, would be a record-high amount.

The previous high was established last offseason at $19.65 million.

The qualifying offer process, which entitles teams to draft-pick compensation for losing players to other clubs in free agency, began in 2012. Players who accept it receive a one-year deal set at the average of the top 125 salaries in MLB.

Only two of the 14 players who were made qualifying offers last offseason - San Francisco Giants outfielder Joc Pederson and Texas Rangers left-hander Martín Pérez - accepted it.