Drew Smyly agreed to a one-year, $2.65 million contract with the Rays on Friday, avoiding arbitration, Marc Topkin of the Tampa Bay Times reports.

Smyly agreed to a one-year, $2.65 million contract with the Rays on Friday, avoiding arbitration, Marc Topkin of the Tampa Bay Times reports.

Analysis:

The $2.65 million salary represents a significant raise for Smyly, who's in his first year of arbitration, but the number may very well also prove a tremendous bargain for Tampa Bay. Smyly was dominant after coming over from Detroit in the David Price trade, posting a 1.70 ERA, 0.75 WHIP and 44:11 K:BB in 47.2 innings. He was capped at 153 total innings last season after tossing just 76 frames in 2013.