CINCINNATI -- Closer-turned-starter Danny Graves agreed to a three-year, $17.25 million contract extension Friday, leaving the Cincinnati Reds with one player left in salary arbitration.

	Graves

Graves made $3,525,000 last season, more than the entire starting rotation on opening day. His extension, contingent upon him passing a physical in Cincinnati on Monday, will include a mutual option for 2006.

The contract includes base salaries of $5 million, $6 million and $6.25 million for each of the three years, with escalators that will increase his pay if he is a full-time starter.

He also got a limited no-trade clause, and his salary will increase if he is traded during the three years. General manager Jim Bowden has a history of trading players after they sign contract extensions, which lock in their salaries and make them more attractive to other teams.

Graves was asking for $6.7 million in arbitration, and the club was offering $5.25 million.

Pitcher Bruce Chen is the last Reds player eligible for arbitration. Chen has asked for $830,000, while the club has offered $700,000.

Graves holds the team record for saves with a right-hander with 129, but his role is in transition. The Reds plan to use Graves as a starter this season, their first in their new ballpark.

"Danny is at the core of the good, young group of players we have under control the first few years of Great American Ball Park,'' Bowden said.

Graves went 7-3 with a 3.19 ERA in 68 games last season. He was the closer for the first 64 games, getting 32 saves, and made his last four appearances as a starter, going 1-0 with a 1.89 ERA.

His performance in the last four games convinced the Reds to leave him in the rotation for 2003. Scott Williamson, the 1999 NL rookie of the year, is a leading candidate to replace him as the closer.