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Report: James Loney, Rays agree to 3-year contract

Rays first baseman James Loney raised his batting average 50 points in 2013. (Al Messerschmidt/Getty Images)

Al Messerschmidt/Getty Images

The Tampa Bay Rays and first baseman James Loney agreed to a new three-year contract worth $21 million dollars, reports ESPN.com's Buster Olney.

Loney also receives a $5 million signing bonus, according to the report. The Pirates and Brewers were also reportedly interested in signing Loney. He came to the Rays last season after signing a one-year, $2 million deal.

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Loney, 29, hit .299 with 13 home runs and 75 RBIs in 158 games for the Rays last season. An eight-year veteran, Loney has career marks of .299 with 86 home runs and 534 RBIs.

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