The Tampa Bay Rays and left-hander David Price have agreed to a one-year contract, the team announced Wednesday. The deal prevents the two sides from going to arbitration.
The new deal will give Price, the 2012 AL Cy Young Award winner, a hefty raise; the three-time All-Star will earn 10.1125 million in 2013, up from his 2012 salary of 4.35 million.
Price, the No. 1 overall pick in the 2007 draft, won 20 games with a 2.56 ERA in 211 innings last season. Price is 61-31 in his five seasons in Tampa Bay and sports a career 3.16 ERA. Though only a full-time starter for four years, he is second in team history in wins.
The Rays are expected to lean more on Price in the upcoming season, given the trade of stalwart righty James Shields and versatile relieverspot-starter Wade Davis to the Royals in early December.