Diamondbacks exercise $8.5 million gamble on Webb

PHOENIX (Reuters) - The Arizona Diamondbacks exercised their $8.5 million option on pitcher Brandon Webb on Friday, gambling that the right-hander can return to his Cy Young form following shoulder surgery.

"There's risk in everything," general manager Josh Byrnes said on their website (arizona.diamondbacks.mlb.com). "With the last three months... some of the risk has been reduced because the surgery went well and Webby's really responded well.

"I think there's a lot of reward. I mean, you're talking about one of the best pitchers in baseball so as we made that decision, in our mind, the reward was greater than the risk."

The cornerstone of the Diamondbacks starting rotation, Webb was handed the opening day assignment last season but lasted just four innings and never returned after arthroscopic surgery on his right shoulder in August.

The three-time all-star has spent his seven-year career in Phoenix becoming one of the National League's dominant pitchers, earning Cy Young honors in 2006 and finishing runner-up in 2007 and 2008, when he posted a career high 22 wins.

"This has always been my first choice for sure to stay here," said Webb. "I'm comfortable here. Obviously, I was hoping that they would (pick up the option).

"I was just waiting for the phone call. It was up in the air for a while, and rightly so, it was a big question mark for a while but I've bounced back really well and am feeling good and I'm happy I'll be back next year."

(Writing by Steve Keating in Toronto; editing by Ken Ferris)