Rays, David Price reportedly avoid arbitration with one-year deal

Rays pitcher David Price will be eligible for free agency after the 2015 season. (Jared Wickerham/Getty Images)

American League Cy Young Award winner David Price has reached an agreement with the Tampa Bay Rays on a one-year deal to avoid arbitration, according to ESPN.com's Jerry Crasnick. Terms of the deal are not yet known.

Price, 27, made $4.35 million last season, his first year of arbitration eligibility because of his Super Two status. He "was projected to earn more than $9 million in 2013 because of his service time and track record," according to Crasnick.

In 2012, the lefty enjoyed the best season of his five-year career, winning an AL-best 20 games thanks to a league-low 2.56 ERA. The No. 1 pick in the 2007 draft out of Vanderbilt, Price owns a 61-31 career record, 3.16 ERA and 1.17 WHIP and has been selected to three straight All-Star teams.

He will be eligible for free agency after the 2015 season and will demand a massive contract, leading some to believe that the Rays will consider trading him before that time.