The Boston Red Sox have agreed to terms with Andrew Bailey on a one-year contract worth $3.9 million, avoiding arbitration with the young closer, according to the Associated Press.
Bailey, who turns 28 in May, made just $465,000 last season. He entered his negotiation with the Red Sox asking for $4.7 million; the Sox countered with an offer of $3.35 million. The two parties were able to meet in the middle today.
Bailey was traded from the Oakland Athletics on Dec. 28, along with Ryan Sweeney, for Josh Reddick and two minor leaguers. The Sox plan to make Bailey their closer in 2012, replacing Jonathan Papelbon, who signed with the Phillies this winter.