CINCINNATI, Jan. 16 (UPI) — The Cincinnati Reds have agreed on a three-year, $38 million contract with National League MVP Joey Votto, multiple sources reported Sunday.

Citing unnamed baseball sources, MLB.com, ESPN and other media outlets said the deal will allow the Reds to avoid arbitration with the slugging 27-year-old first baseman, who was second in the NL with a .324 average and was third in both home runs (37) and RBI (113).

The deal is contingent on a routine physical exam set for Monday, the sources said.

Votto earned $525,000 in 2010 while playing a key role in helping the Reds win the NL Central Division title.

Reds General Manager Walt Jocketty expressed a desire in December to sign Votto, but the Canada native had seemed hesitant about inking long term deal, MLB.com reported.

The Cincinnati Reds and Joey Votto have agreed to a three-year contract worth $38 million, MLB.com Reds beat reporter Mark Sheldon announced on his Twitter account Sunday.

Earlier Sunday, Jon Heyman of SI.com reported Votto and the Reds were working to finish a deal to keep the first baseman in Cincinnati.

The Cincinnati Reds are looking forward to having first baseman Joey Votto for three more seasons. The two agreed on a three-year deal worth $38 million.

The contract will pay Votto through his three arbitration years and make him a free agent in 2013.

Based on his numbers from last season, it’s not surprising Votto received an extension. He hit .324 with 37 home runs and 113 RBIs.

The Cincinnati Reds have agreed to a three-year, $38 million deal with first baseman Joey Votto, sources told ESPN The Magazine’s Buster Olney on Sunday.

Joey Votto

#19 1B
Cincinnati Reds

2010 STATS

• GM150
• HR37
• RBI113
• R106
• OBP.424
• AVG.324

The deal is pending a physical, which is scheduled for Monday, the sources said. Votto was eligible for arbitration for the first time this offseason.

Votto, who was named the National League’s MVP in 2010, was also a first-time All-Star, finishing second in the NL in batting average at .324 and third in homers (37) and RBIs (113). He led the NL in slugging percentage (.600), topped the major leagues in on-base percentage (.424) and had 16 stolen bases in 21 chances.

The 27-year-old first baseman helped the Reds win the NL Central as Cincinnati reached the postseason for the first time in 15 years.

Information from The Associated Press was used in this report.