Detroit, MI (SportsNetwork.com) - The Detroit Tigers and pitcher David Price have agreed to a one-year contract to avoid salary arbitration.

The Tigers did not disclose financial terms of the agreement, but MLB.com reports it to be worth $19.75 million. It's the largest one-year contract for an arbitration-eligible player prior to free agency, topping the $15.25 million deal the Tigers and pitcher Max Scherzer worked out last season.

Scherzer, who also turned down a multi-year contract from the Tigers, is still on the open market as a free agent.

Price can become a free agent next year, but the two sides can still work toward a multi-year deal.

The left-hander joined the Tigers last July in a trade with Tampa Bay and was 4-4 with a 3.59 ERA in 11 starts after the deal. In 34 starts overall, Price was 15-12 with a 3.26 ERA.

Price won the 2012 Cy Young with Tampa Bay and is a four-time All-Star. He owns a career record of 86-51 with a 3.21 ERA in 186 games, all but five as a starter.

The Tigers also agreed to terms with two other arbitration-eligible players on Friday, outfielder J.D. Martinez and pitcher Alfredo Simon.

Martinez is coming off a breakout 2014 campaign in which the former Houston Astro hit .315 and set career bests of 23 home runs and 76 RBI in just 441 at- bats. Detroit acquired the 27-year-old off waivers from the Astros in late March.

Simon earned a spot on the 2014 National League All-Star team and won a career-high 15 games for Cincinnati last season, with the right-hander posting a 3.44 ERA over 32 starts.

The Tigers obtained Simon in a trade with the Reds during the Winter Meetings in December.