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Reigning American League Cy Young Award winner David Price reached a one-year contract agreement with the Tampa Bay Rays on Tuesday, as the two sides avoided arbitration, according to ESPN's Jerry Crasnick.
Though terms of the deal are unknown, Price will likely earn around $9-10 million n 2012, because of his service time and performance.
Price went 20-5 for the Rays in 2012, with a 2.56 ERA and 1.10 WHIP, while holding opponents to a .226 average, en route to winning the Cy Young. Price struck out 205 batters and only walked 59 in 211 innings of work.
Tampa Bay will certainly need Price to pitch at a high level once again in 2013 -- especially after trading workhorse James Shields to the Kansas City Royals. Both Price and Shields' name surfaced in trade rumors earlier in the offseason, but it was Shields, not Price, who was ultimately moved.
Price will remain under club control through the 2015 season, and will be eligible for free agency following the 2015 World Series.