Reds, Votto reach three-year, $38M contract extension

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Big news out of Cincinnati.

According to MLB.com’s Mark Sheldon, the Reds reached agreement this afternoon on a three-year, $38 million contract extension with first baseman Joey Votto.

Jon Heyman of SI.com first caught wind of the negotiations this morning and everything is expected to be made official once the slugger passes a physical Monday.

The contract will cover all three of Votto’s arbitration years, and at a pretty decent rate.  Ryan Howard was awarded a record $10 million in his first arbitration case back in 2008 and Votto might have topped that if the process went to a hearing this offseason.  Then he would top that again in 2012, and then again in 2013.  Howard made $44 million total in his first three years of arbitration eligibility with the Phillies.

If the 27-year-old continues to post numbers like he did in 2010, the extension will prove to be a major bargain.  And with the way his career has unfolded, there’s no reason to think he won’t.

Reds fans might have preferred that the club lock Votto up for a longer period of time, but there’s no sense in negotiating a long-term extension with a player who carried his amount of leverage.  The Reds had him under team control through 2013 anyway and now they simply have him locked in at a set price.

Votto hit .324 for the National League Central champs last season with 37 homers and 113 RBI.  He led all National League hitters with a sparkling 1.024 OPS on his way to capturing the National League MVP and he also played plus defense at first base.  The Reds are going to be competitors for as long as he’s around.

Gallegos agrees to 2-year, $11M contract with Cardinals

Atlanta Braves v St. Louis Cardinals
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ST. LOUIS – Reliever Giovanny Gallegos and the St. Louis Cardinals agreed to a two-year, $11 million contract, a deal that includes a club option for 2025 and escalators that could make it worth $20.5 million over three seasons.

The 31-year-old right-hander is 3-5 with a 2.91 ERA and 14 saves in 20 chances this season. He has 72 strikeouts and 15 walks in 58 2/3 innings.

“I feel so happy,” Gallegos said before the Cardinals played the Pirates in Pittsburgh. “I don’t have the word for exactly how I’m feeling.”

He was obtained from the Yankees in July 2018 along with left-hander Chasen Shreve in the trade that sent first baseman Luke Voit to New York. Gallegos is 14-15 with a 3.02 ERA and 34 saves in six major league seasons.

Gallegos gets a $500,000 signing bonus and salaries of $4.5 million next year and $5.5 million in 2024. St. Louis has a $6.5 million team option for 2025 with a $500,000 buyout.

His 2025 option price can increase by up to $3.5 million for games finished in 2024: $500,000 each for 20-25 and 26-30 and 31-35, and $1 million apiece for 36-40 and 41 or more.

He would get $250,000 for winning the Rivera/Hoffman reliever of the year award, $50,000 for All-Star selection and World Series MVP and $25,000 for League Championship Series MVP.

Gallegos has a $2.41 million salary this year.

He was eligible for salary arbitration and is potentially eligible for free agency after the 2024 season.