Rays ring in new year with Price signing

NEWYou can now listen to Fox News articles!

The Tampa Bay Rays have officially avoided arbitration with David Price, signing the 2012 American League Cy Young Award winner to a one-year, $10.1125 million contract.

The 27-year-old southpaw went 20-5 with an AL-best 2.56 ERA and 205 strikeouts in 31 starts last season. Twenty-three of his outings lasted seven innings or more, the most in the majors.

A three-time All-Star, Price has a 61-31 career record with a 3.16 ERA in five seasons with the Rays.