Justin Masterson talks break off

Contract negotiations between the Cleveland Indians and Justin Masterson reportedly broke off Thursday after the sides remained far apart on financial terms of a potential extension, according to multiple media outlets.

Masterson, projected to be one of the top starting pitchers in free agency next offseason, is seeking a multiyear deal worth approximately $17 million annually, according to reports. The right-hander's agent proposed multiple offers to the Indians more than two weeks ago.

The Indians made a counter-offer to agent Randy Rowley on Thursday, but the team's offer reportedly was worth at least $3 million less annually than Masterson's proposal.

Rowley indicated to MLB.com that Masterson, who turns 29 on Saturday, will test the open market following the 2014 season.

"We tried to be flexible in years and sensitive to the market," Rowley told MLB.com. "Justin obviously has a passion for playing for %5Bmanager Terry Francona%5D, loves his teammates and we would've loved to have gotten something done.

"We tried to do everything we could to make that happen, and we weren't able to come to an agreement."

A first-time All-Star in 2013, Masterson went 14-10 with a 3.45 ERA and a career-high 195 strikeouts last season. The right-hander is 53-63 with a 4.03 ERA in parts of six seasons with the Indians and Boston Red Sox.

But Masterson has emerged as a reliable starter over the last three seasons, going 37-35 with a 3.86 ERA while averaging 205 innings pitched per year over that stretch.

The Indians and Masterson avoided salary arbitration last month by agreeing to a $9.7 million contract for this season. The sides are not expected to resume contract talks at any point this season, according to reports.