This according to Jayson Stark.

The Seattle Mariners have signed pitcher Felix Hernandez, who was eligible for arbitration for the first time, to a one-year contract worth $3.8 million.

The Mariners and the right-hander have explored multiyear deals over the last two offseasons, but without success. Hernandez can't become a free agent until after the 2011 season.

Not bad for the M's, considering Felix was worth $17.1 million last year, and should be even better this season.

I still hope they can come to an agreement on a multi-year deal, but for now, I can accept this.