The Cincinnati Reds avoided arbitration with Mat Latos by agreeing to a two-year contract with the right-hander on Tuesday.

The deal is reportedly worth $11.5 million. Latos made $550,000 last season. Eligible for arbitration for the first time, he had asked for $4.7 million in arbitration and had been offered $4.15 million.

Latos went 14-4 with a 3.48 ERA in 33 starts last season, his first with the Reds. He threw two complete games back-to-back on June 25 and 30.

The 25-year-old is 41-33 with a 3.41 ERA in 105 career games with the Padres and Reds.

Homer Bailey is the only player left on Cincinnati's arbitration slate.