Reds working on multi-year extension with Joey Votto

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UPDATE: A three-year, $38 million contract extension was agreed to on Sunday afternoon.

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Reds first baseman Joey Votto qualifies for arbitration this winter for the first time in his major league career.  But he may never actually have to face an arbitration hearing.

The slugger is in line for a massive raise from the $550,000 salary that he pulled in last season while capturing National League MVP honors, so the Reds are being  proactive in the month or so before spring training and are looking into signing him to a multi-year contract extension, according to SI.com’s Jon Heyman.

The Reds could simply give Votto a three-year deal that would cover all of his arbitration eligible seasons and keep him in Cincy through 2013 at a fairly bargain rate — something like $37 million.  Or they could pony up even more and buy out some of his free agent years, albeit at a higher overall price tag.

The 27-year-old has all of the leverage in the world this offseason after posting a scorching .324/.424/.600 batting line, 37 home runs and 113 RBI in 2010, but there’s little doubt that he is going to be highly productive for at least the next several seasons.  The Reds may save themselves some cash in the long run (and the pain of possibly losing Votto to free agency) by getting a big extension worked out this winter.

Report: Glen Perkins will retire from baseball

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According to MLB.com’s Rhett Bollinger, Twins GM Thad Levine told 1390 Granite City Sports that reliever Glen Perkins will retire.

Perkins, 34, has battled shoulder injuries over the last two years, limiting him to a total of 7 2/3 innings between 2016-17. His decision doesn’t come as much of a surprise given the circumstances. The Twins declined his $6.5 million club option back in October, making him a free agent.

Across parts of 12 seasons, all with the Twins, Perkins compiled a 3.88 ERA with 120 saves and a 504/158 K/BB ratio in 624 1/3 innings. He ranked among baseball’s best closers from 2013-15, racking up 102 of those saves with a 3.08 ERA. The lefty made the American League All-Star team in each of those three seasons.