Mat Latos agrees to new two-year contract with Reds

After going 14-4 with a 3.48 ERA in his first season with the Reds, Mat Latos will ink a new two-year deal for $11.5 million with the club.

Al Behrman/AP

GOODYEAR, Ariz. (AP) -- Right-hander Mat Latos has agreed to an $11.5 million, two-year contract with the Cincinnati Reds, avoiding what would have been baseball's first salary arbitration hearing of the year.

Latos will receive salaries of $4.25 million this year and $7.25 million in 2014 under Tuesday's deal.

Cincinnati obtained Latos from San Diego before the 2012 season. He solidified a rotation that was one of the NL's best, helping the Reds win the NL Central for the second time in three seasons. Latos went 14-4 with a 3.48 ERA and two complete games in 33 starts.

Latos made $550,000 last season. Eligible for arbitration for the first time, he had asked for $4.7 million in arbitration and had been offered $4.15 million.

Right-hander Homer Bailey is the last Reds player in arbitration. He has asked for $5.8 million, and the Reds have offered $4.75 million. They've also discussed a multiyear deal with Bailey, who pitched a no-hitter at Pittsburgh last Sept. 28.