Reds discussing contract extension with Homer Bailey

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Reds general manager Walt Jocketty admitted earlier this month that it will be “difficult” to keep Homer Bailey, but he still hasn’t given up hope of the possibility.

Bailey, who is entering his final year of arbitration, asked for $11.6 million and was offered $8.7 million when arbitration figures were exchanged yesterday. While a panel of arbitrators could decide on his 2014 salary if the two sides can’t make progress before next month, Jocketty told Mark Sheldon of MLB.com that he’s focused on getting a multi-year deal done.

“In Bailey’s case, we were working on a multi-year [deal],” Jocketty said. “The agent [Casey Close] has [Clayton] Kershaw and he has [Masahiro] Tanaka also, so he’s been tied up with that. We just didn’t anticipate getting it done, but we exchanged numbers in the event and we will continue to negotiate and hopefully get something done before the hearing date.

“I am optimistic,” Jocketty said. “I just think it depends on where they feel the market settles in on free-agent pitchers. Hopefully, we’re not too far with our estimate and with their estimate about the market going forward. What it will be based on is what market for a guy like Bailey will be in the future.”

Bailey turns 28 in May and owns a 3.58 ERA in 65 starts over the past two seasons, so he could be looking at a $100 million deal in free agency if he remains healthy and effective in 2014. The Reds will have to make a very generous offer for him to pass up on a chance to test the open market.

Report: Twins interested in Wade Miley

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Free agent left-hander Wade Miley is among several offseason targets for the Twins, according to a report from Darren Wolfson of KSTP. Miley’s $12 million option was declined by the Orioles back in November, and while he’s expected to attract another major league deal in 2018, he hasn’t exactly been highly sought after this offseason.

The 31-year-old lefty finished his second campaign with the Orioles in 2017, producing an 8-15 record in 32 starts and ranking second-to-last among all AL starters with a 5.61 ERA, 5.3 BB/9 and 8.1 SO/9 in 157 1/3 innings. Even taking Miley’s undeniable durability into account — he remained healthy for the bulk of the season and completed his sixth straight year with 30+ starts — his declining value and career-worst numbers may lower his price tag as the 2018 season approaches.

Wolfson notes that the Twins have engaged in “regular dialogue” with Miley’s agent this winter, but he’s far from the only starting pitcher they have their eye on. Right-handers Yu Darvish, Lance Lynn, Alex Cobb and Chris Tillman are still on their radar, among several others, and club owner Jim Pohlad said Saturday that he was “totally on board” with the idea of signing a big-name free agent like Darvish or another available starter. “There are some interesting names and some interesting opportunities there,” Pohlad told a crowd at TwinsFest. “I’m as intrigued by it as anybody and attracted to it as anybody.”