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Price, Rays agree to 1-year, $10.1125 million deal

Posted Jan 1, 2013 by Roger Mooney

Updated Jan 2, 2013 at 04:48 PM

The Tampa Bay Rays officially announced Wednesday that they avoided arbitration with left-handed pitcher David Price by agreeing to one-year, $10.1125 million contract.

Price, 27, won the American League Cy Young Award in 2012 after becoming the first pitcher in Rays history to win 20 games.

The deadline for both sides to exchange arbitration figures is Jan. 18.

Price, who also led the American League last season with a 2.56 ERA, made $4.35 million in 2012. That contract came during Price’s first year of arbitration eligibility.

The Rays cleared more than $33 million off the payroll after trading pitchers James Shields ($10.15 million in 2013) and Wade Davis ($2.8 million in 2013) to Kansas City in December and by not resigning center fielder B.J. Upton ($7 million in 2012) and first baseman Carlos Peña ($7.25 million in 2012) and by declining the $6 million option for 2013 on designated hitter Luke Scott.

Knowing Price would command at least $9 million had he gone through the arbitration process is one reason the Rays were forced to trade Shields for four prospects, including outfielder Wil Myers. With Price making more than $10 million this season means it is unlikely the Rays will be able to sign him to a long-term deal.

Like Shields, who has one club option left on the contract he signed with the Rays in 2008, Price will soon be too expensive for the Rays.

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