The contract is for one year and is worth $3.06M. Leake was seeking $3.5M and the Reds were only offering $2.65M. In 2012 he made $507,000.
Leake, 25 has been with the Reds since he was their 1st round pick in the 2009 amateur draft, out of Arizona State. He went straight to the major leagues without spending a moment in the minors. In 2011 he was 12-9 with a 3.86 ERA before stumbling last season when his ERA ballooned to a career high of 4.58.
It is supposed by many that Leake will be replaced in the rotation by 2013 closer, Aroldis Chapman. It is likely that Leake will be a spot starter and long reliever.