The Dodgers announced the contract nearly a month after it was agreed upon. The pact has an opt-out after the 2019 season, giving Jansen the opportunity to become a free agent once again, if desired.
Jansen will reportedly get a $4 million signing bonus, $10 million in 2017 and 2018, $18 million in 2019 and 2020, and finally $20 million in 2021. If Jansen were to opt out after three seasons, he would leave $38 million on the table.
Jansen's deal is the second largest ever given to a closer, behind the five-year, $86 million contract Aroldis Chapman landed from the New York Yankees, also last month. Also this winter, Mark Melancon agreed to a four-year, $62 million deal with the San Francisco Giants.
Jansen was an All-Star for the first time in 2016, recording a career-best 47 saves last season with a 1.83 ERA. His 189 career saves are the most in Dodgers history, as are his 632 strikeouts as a reliever.
Jansen joins a growing list of players with opt-outs in their contracts, a list that includes Dodgers starters Clayton Kershaw and Scott Kazmir. Kershaw can opt out of his Dodgers deal after the 2018 season, while Kazmir can bolt after this coming season.
Zack Greinke used an opt-out in his contract to leave the Dodgers after the 2015 season. Greinke left $71 million on the table from his Dodgers deal, but ended up landing a six-year, $206.5 million contract with the Arizona Diamondbacks.
Another stipulation to Jansen's contract is that he would be paid an additional $1 million if he is traded.
To make room on the 40-man roster for Jansen, the Dodgers designated infielder Micah Johnson for assignment.
Information from The Associated Press was used in this report.