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St. Petersburg, FL (Sports Network) - The Tampa Bay Rays have officiallyavoided arbitration with David Price, signing the 2012 American League CyYoung 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 strikeoutsin 31 starts last season. Twenty-three of his outings lasted seven innings ormore, the most in the majors.

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