Jan 23, 2008 4:28 PM EST

Rafael Betancourt has signed a two-year with the Cleveland Indians, allowing the parties to avoid arbitration.

The financial terms were not immediately released, but the deal reportedly includes an option for a third year.

Betancourt was 5-1 with a 1.47 ERA in 68 appearances for the Tribe in 2007.

Via RealGM Staff Report