"MLB.com's Mark Sheldon reports that the Reds and pitcher Edinson Volquez have come to terms on a one-year deal.

A signed deal has yet to be formally announced, according to Sheldon.

From Sheldon's story:

ESPN Deportes reported Saturday that the deal would likely be for $1.6 million to avoid arbitration. Reds general manager Walt Jocketty had originally hoped to sign Volquez to a multiyear contract — like he had with several others this winter — but he wasn't disappointed."