Reds and GM Walt Jocketty agree to three-year extension

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Walt Jocketty declined to talk about his contract status last week, but today the 60-year-old general manager agreed to a three-year extension with the Reds that runs through 2014.

Jocketty originally joined the Reds as a special advisor to then-GM Wayne Krivsky in early 2008 and then took over the GM role when Krivsky was fired a short time later.

Mark Sheldon of MLB.com notes that the Reds are slightly below .500 (319-323) since Jocketty took over, including a disappointing 76-80 mark this year, but Cincinnati made the playoffs last season for the first time since 1995 and Jocketty was named Sporting News executive of the year.

He was previously GM of the Cardinals from 1995-2007, during which time St. Louis made seven trips to the playoffs and had just three losing records.

Jocketty won’t have a ton of payroll room to work with this offseason and signing Brandon Phillips to a long-term deal may prove difficult, but the Reds are certainly well positioned for contention in 2012.

Orioles claim Jace Peterson off waivers from the Yankees

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The Baltimore Orioles have claimed utilityman Jace Peterson off waivers from the Yankees.

Peterson has played in three games this season and has been DFA’d twice. He had no place to play in New York but perhaps the O’s can use his versatility. While mostly a second baseman in his career he’s appeared at every position except pitcher and catcher at some point along the way, and that’s useful. More useful for a team that isn’t going anyplace like Baltimore, I presume. Saves ’em on gas money from Norfolk when someone gets an owie.

To make room for Peterson the O’s moved Gabriel Ynoa, who is suffering from shoulder inflammation, from the 15-day to the 60-day disabled list. Ynoa has yet to appear in a game this season.