The Rays have agreed to terms with left-handed pitcher David Price for the 2014 season, avoiding arbitration. He will earn $14 million.

Price, 28, is a three-time All-Star (2010-12) and in 2012 became the first pitcher in Rays history to win the American League Cy Young Award. In 2013, he went 10-8 with a 3.33 ERA (186.2-IP, 69-ER) in 27 starts despite missing 44 games with a left triceps strain. His 5.59 strikeout-to-walk ratio (151-SO, 27-BB) led the AL and ranked fourth all-time among AL lefthanders.

Following his return from the disabled list on July 2, Price went 9-4 with a 2.53 ERA (131.2-IP, 37-ER) in 18 starts with 102 strikeouts and only 13 walks. During that time he led the major leagues in innings pitched, complete games (four) and fewest pitches per inning (13.8). His final complete game came in the September 30 tiebreaker game at Texas, when he became the fifth pitcher in major league history to record a complete-game victory in a one-game tiebreaker.

A six-year veteran, Price is the Rays all-time leader in ERA (3.19) and winning percentage (.645, 71-39) and ranks second behind James Shields in wins (71), games started (147), innings pitched (973.0), strikeouts (876) and complete games (eight). He was selected by the Rays as the No. 1 overall pick in the 2007 June Draft.