Reds interested in extending Francisco Cordero’s contract

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Francisco Cordero’s contract has a $12 million team option or $1 million buyout for next season and general manager Walt Jocketty admitted yesterday that the Reds “are trying to determine” what their best course of action will be.

Cordero has said he’d be open to renegotiating the deal and Jocketty told John Fay of the Cincinnati Enquirer that the Reds “have discussed it quite a bit” and an extension is a “possibility.”

Jocketty added that “hopefully we’ll address it before the end of the season,” so if a Cordero extension is going to happen it may take place very soon.

Aroldis Chapman would the obvious choice to replace Cordero as closer, but the Reds have indicated that they want to give him an opportunity to be a starter in 2012. Cordero has been very effective this season, converting 32 of 37 save chances with a 2.30 ERA in 63 innings, but at age 36 his strikeout rate has plummeted to a career-low 5.7 per nine innings and the idea of guaranteeing him big money for multiple seasons might be even less appealing than simply paying him $12 million in 2012.

Report: Phillies place Justin Bour on waivers

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Jim Salisbury of NBC Sports Philadelphia reports that the Phillies have placed first baseman Justin Bour on waivers. The Phillies are creating space on the 40-man roster ahead of the Rule 5 protection deadline on Tuesday.

Bour, 30, opened the season with the Marlins but was traded to the Phillies in August in exchange for minor league pitcher McKenzie Mills. Overall, Bour hit .227/.341/.404 with 20 home runs and 59 RBI in 501 plate appearances.

Bour doesn’t really have a spot on the Phillies’ roster considering he is strictly a first baseman and the Phillies already have Carlos Santana. The Phillies may try to trade Santana to move Rhys Hoskins back to first base from left field.

If Bour clears waivers, he can reject an outright assignment to the minor leagues and become a free agent. However, considering how slow-moving the market for bat-only 1B/DH types has been in recent years, Bour may have trouble latching on with a new team on a guaranteed major league contract. If Bour is claimed, the claiming team will be responsible for paying him as he enters his second of three years of arbitration eligibility. MLB Trade Rumors projects Bour to earn a salary of $5.2 million in 2019.