SAN DIEGO — Stephen Strasburg is returning to Washington with a record contract, and fellow free agent pitcher Gerrit Cole could be in line for an even larger payday.

The World Series MVP and the Nationals agreed to a $245 million, seven-year contract Monday, the first significant announcement at this week’s winter meetings.

A 31-year-old right-hander, Strasburg received the highest deal for a pitcher in both total dollars and average annual value at $35 million. The largest contract for a pitcher had been David Price’s $217 million, seven-year deal with Boston that began in 2016. The highest average value had been Zack Greinke’s $34.4 million as part of a $206.5 million, six-year agreement with Arizona.

“We would not have won the 2019 World Series or accomplished everything we have these last 10 seasons if not for Stephen’s many contributions,” Nationals owner Mark Lerner said in a statement.

Strasburg gets $35 million annually, with $80 million deferred — about $11.4 million a year. The deferred money is payable from 2028-30.

The contract sets a floor for Cole, who is expected to top the records Strasburg just set.