MONDAY: It's a $1.625MM deal that includes some performance bonuses, according to the AP (via the Dayton Daily News).
While no financial terms have been released yet, ESPN's Enrique Rojas reported that a deal would likely be in the $1.6MM range yesterday when we learned the two sides were nearing a deal.
Volquez, 26, returned from Tommy John surgery last season to throw 62 2/3 quality innings. The right-hander, who was acquired by Texas in exchange for Josh Hamilton in 2007, posted a 4.34 ERA while striking out 67 hitters. He featured his typical shaky command (5.0 BB/9 in 2010, 4.7 for his career), but he showed no loss of velocity, as his 93.6mph average was the same as his career mark.
As MLBTR's Arb Tracker shows, Volquez was the club's last remaining arbitration case.