The Cincinnati Reds signed right-hander Raisel Iglesias to a three-year contract through the 2021 season, the team announced Wednesday, avoiding arbitration.
His new deal is worth $24.1 million, a source told MLB.com's Mark Feinsand.
"Raisel has been extremely reliable in our bullpen. He has also proven to be a very versatile pitcher, which we value highly," president of baseball operations Dick Williams said.
In 2014, Iglesias signed a seven-year contract that ran through 2020.
The 28-year-old appeared in 66 games for Cincinnati in 2018, earning 30 saves and posting a 2.38 ERA.
