The Reds and National League MVP Joey Votto agreed Sunday on a three-year deal worth $38 million.

The 27-year-old first baseman was eligible for arbitration, but the new contract will allow the Reds to avoid that. Votto, meanwhile, gets a multiyear deal without delaying his free-agent eligibility in 2014.

Votto made $550,000 in 2010, his third full season in the majors, when he broke out with 37 home runs, 113 RBIs and a .324 batting average.

The new agreement was first reported by MLB.com. Negotiations were initially reported by SI.com.

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