The Rays apparently are keeping first baseman James Loney after all.

According to the Tampa Bay Times and at multiple national media outlets, the club has reached an agreement with Loney on a new three-year, $21 million contract. Details are still being worked out, the Times said.

Loney was a bargain for the Rays last year. Playing for $2 million after signing as a free agent in December, he hit .299 with 13 home runs and 75 RBIs while becoming a Gold Glove finalist. He entered free agency this season in line for a contract bigger than the Rays could afford, but Tampa Bay always kept him in its sights.

The Rays did look at other options for first base, including Ike Davis (Mets) and Mitch Moreland (Rangers), but they made it known Loney was at the top of their list.

"The good thing is, he liked it here," team president Matt Silverman said on WDAE-AM 620.