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Rays announce David Price's deal

Updated: January 2, 2013, 3:41 PM ET
By Jerry Crasnick | ESPN.com

David Price, the American League Cy Young Award winner, has reached agreement on a one-year contract with the Tampa Bay Rays to avoid salary arbitration.

The deal was reported by ESPN.com on Tuesday and announced by the club Wednesday. The 27-year-old Price, who made $4.35 million last season, will make $10.1125 million in the coming season, the Rays said. He will be eligible for free agency after the 2015 season.

Price is 61-31 with a 3.16 ERA in ...

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