UPDATE: Dodgers finalize contract extension with Chad Billingsley

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UPDATE: The deal is done. And as expected, he’ll receive three years and an option for 2015.

According to Dylan Hernandez of the Los Angeles Times, Billingsley will be guaranteed at least $35 million from 2012-2014. If the Dodgers exercise the option for 2015, he could make as much as $46 million.

Billingsley will earn $9 million in 2012, $11 million in 2013, $12 million in 2014 and either a $14 million club option for 2015 or a $3 million buyout.

Monday, 8:00 PM: According to Jim Peltz of the Los Angeles Times, the Dodgers and Chad Billingsley have reached a tentative agreement on a three-year contract extension valued at more than $30 million.

Details aren’t yet available, but multiple sources tell Tony Jackson of ESPN Los Angeles that the deal will cover 2012-2014 with a possible option for 2015. If true, the contract would buy out his final year of arbitration and his first two years of free agency. Billingsley and the Dodgers avoided arbitration by agreeing to a one-year, $6.275 million contract in January.

Billingsley, 26, is 59-41 with a 3.55 ERA over his first five major league seasons, averaging 8.2 K/9 and 3.9 BB/9. The former 2003 first-round pick went 12-11 with a 3.57 ERA over 31 starts last season.

UPDATE: Dylan Hernandez of the Los Angeles Times reports that the contract is worth $35-36 million, including the buyout of the option year. He adds that the salary for the option year is still being negotiated.

Diamondbacks, T.J. McFarland avoid arbitration

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Bob Nightengale of USA TODAY Sports reports that the Diamondbacks and reliever T.J. McFarland have avoided arbitration, agreeing on a $1.45 million salary for the 2019 season. McFarland, in his third of four years of arbitration eligibility, filed for $1.675 million while the Diamondbacks countered at $1.275 million. McFarland ended up settling for just under the midpoint of those two figures.

McFarland, 29, was terrific out of the bullpen for the D-Backs last season, finishing with a 2.00 ERA and a 42/22 K/BB ratio in 72 innings. While the lefty may not miss a lot of bats, he does induce quite a few grounders. His 67.9 percent ground ball rate last season was the third highest among relievers with at least 50 innings, trailing only Brad Ziegler (71.1%) and Scott Alexander (70.6%).

McFarland was dominant against left-handed hitters, limiting them to a .388 OPS last season, but the D-Backs deployed him nearly twice as often against right-handed hitters, who posted an aggregate .764 OPS against him. It will be interesting to see if the club decides to use him more as a platoon reliever in 2019.