Reds officially exercise Cueto's $10-million option

The Cincinnati Reds confirmed the obvious on Thursday, announcing that they picked up a $10 million club option on right-hander Johnny Cueto.

This was a mere formality for the Reds, who will retain Cueto at a bargain price for at least one more year. The 28-year-old is set to become a free agent after the 2015 season and would be in line for a lucrative multi-year contract with another strong season.

Cueto bounced back from an injury-plagued 2013 to turn in the best season of his seven-year career. He made his first All-Star Game and set career highs in ERA (2.25), innings (243 2/3), strikeout rate (25.2%) and wins (20).