Perez will have a fourth minor-league option in 2021, C. Trent Rosecrans of The Athletic reports.
Perez spent most of the 2020 season at the Astros' alternate training site, and an arbitrator ruled Wednesday that the southpaw will have an additional option with his new club in 2021. The decision will give the Reds more flexibility this year and makes it more likely that Perez will begin the season at Triple-A Louisville. Perez has made nine appearances (one start) this spring and has posted a 0.93 ERA and 1.35 WHIP over 9.2 innings.