Diamondbacks Royals Baseball

FILE - Arizona Diamondbacks starting pitcher Zach Davies throws during the first inning of the team's baseball game against the Kansas City Royals on Aug. 23, 2022, in Kansas City, Mo. The Diamondbacks and Davies have agreed to a $5 million, one-year contract that includes a mutual option for 2024, according to a person familiar with the deal. The person spoke to The Associated Press on condition of anonymity Wednesday, Jan. 4, because the move had not been announced. (AP Photo/Charlie Riedel, File)

PHOENIX (AP) — The Arizona Diamondbacks and right-hander Zach Davies have finalized their $5 million, one-year contract that includes a mutual option for 2024.

The team announced the deal Wednesday.

The 29-year-old Davies signed with the Diamondbacks last season and went 2-5 with a 4.09 ERA over 27 starts. The eight-year veteran figures to remain at the back end of a rotation that includes Merrill Kelly, Zac Gallen and Madison Bumgarner.

Davies gets a $4.7 million salary this year, and the deal includes a $5.5 million mutual option for 2024 with a $300,000 buyout. The buyout would increase by $200,000 if he makes 16 starts this season.

The pitcher can earn $3.25 million in performance bonuses this year for starts: $400,000 for 10, $550,000 each for 15 and 20, $650,000 for 25, $450,000 for 27 and $650,000 for 30.

Davies, who went to high school in Arizona, is 58-53 with a 4.14 ERA in 182 major league starts with the Brewers, Padres, Cubs and Diamondbacks.

The Diamondbacks also designated right-hander J.B. Bukauskas for assignment. Right-hander Edwin Uceta, designated for assignment on Jan. 5, was claimed by the Detroit Tigers.

AP Baseball Writer Ronald Blum in New York contributed to this report.