ST. PETERSBURG, Fla. (AP) - The Tampa Bay Rays have announced American League Cy Young Award winner David Price has agreed to a one-year deal for just over $10 million and avoided arbitration.
Price became the franchise's first 20-game winner in 2012, going 20-5 with an AL-best 2.56 ERA. He narrowly beat out Detroit's Justin Verlander for the honor that goes to the league's top pitcher.
The hard-throwing left-hander is 61-31 with a 3.16 ERA in five seasons with the Rays. The first overall pick in the 2007 draft out of Vanderbilt, Price is a three-time All-Star.
The 27-year-old ranks second in club history in wins and is third in innings pitched, strikeouts and starts.
Price, who earned $4.35 million in 2012, agreed to the $10.1125 million deal Tuesday. The Rays announced it on Wednesday.
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