3:02pm: Reynolds will earn $550K in 2014 and there's a club option for the following year worth $600K, according to Nick Piecoro of the Arizona Republic (on Twitter).
11:42am: The Diamondbacks announced that they have avoided arbitration with left-hander Matt Reynolds by agreeing to a one-year contract with a club option for the 2015 season.
Reynolds, 29, was enjoying an outstanding season in his first year with the Snakes before going down with a left elbow strain. That injury resulted in the worst possible outcome for team and player, as Reynolds ultimately underwent Tommy John surgery on Sept. 24.
In 27 1/3 innings for the D-Backs this season, Reynolds had a pristine 1.98 ERA with 7.6 K/9 and 1.6 BB/9. By locking him up for 2014 and securing a club option for 2015, the Diamondbacks gain some cost certainty over an asset who is controlled through the 2016 season. Arizona acquired Reynolds last November in a rare intra-division trade that sent third baseman Ryan Wheeler to the Rockies.