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The right-hander Homer Bailey and the Cincinnati Reds agreed to a one-year, $5.35 million deal, ensuring a record low for baseball salary arbitration hearings. No cases have been argued before three-person panels this year among the 133 players who filed for arbitration last month, and just two remain scheduled for hearings next week. The previous record low was three hearings, set in 2005 and matched in 2009 and 2011. The high was 35 in 1986.
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