GOODYEAR, Ariz. (AP) - Right-hander Homer Bailey and the Cincinnati Reds have agreed to a $5.35 million, one-year contract, ensuring baseball will set a record low for arbitration hearings.
No cases have been argued before three-person panels this year among the 133 players who filed for arbitration last month and just two remain scheduled for hearings next week: San Diego left-hander Clayton Richard and Baltimore reliever Darren O'Day.
O'Day and the Orioles have an agreement on a $5.8 million, two-year contract that is pending a physical. Richard has asked for a raise from $2.705,000 to $5.5 million and has been offered $4,905,000 after he went 14-14 with a 3.99 ERA last tear.
Baseball's previous record low was three hearings, set in 2005 and matched in 2009 and 2011. The high was 35 in 1986.
Bailey's deal was announced Saturday.

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