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Johnny Cueto and the Reds finalize long-term extension

Jan 26, 2011, 2:15 PM EDT

Philadelphia Phillies v Cincinnati Reds, Game 3 Getty Images

This afternoon the Reds officially announced the long-term contract extension with Johnny Cueto that was first reported last week.

Cueto, who was arbitration eligible for the first time this season and submitted a figure of $3.9 million, gets a four-year deal worth an estimated $27 million and the Reds also hold an undisclosed team option for 2015.

In other words, they bought out all three of his arbitration-eligible seasons and his first year of free agency, with the option to buy out his second year of free agency as well. Cincinnati now controls Cueto through his age-29 season.

Ranked among baseball’s elite pitching prospects while coming up through the minors, Cueto surprisingly won a spot in the Opening Day rotation as a 22-year-old in 2008 and has sliced his ERA from 4.81 to 4.41 to 3.64 in three seasons. He hasn’t racked up quite as many strikeouts as his minor-league numbers and raw stuff suggested was possible, but Cueto looks likely to be a solid No. 2 starter long term.

  1. Jonny 5 - Jan 26, 2011 at 2:19 PM

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