Reds “optimistic” about working out new contract with closer Francisco Cordero

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The Reds appear to be making quick progress in contract talks with closer Francisco Cordero.

Reds general manager Walt Jocketty told John Fay of the Cincinnati Enquirer this afternoon that he is “optimistic” the two sides will be able to work out a new deal in lieu of Cordero’s $12 million club option for 2012. They are currently in talks about a potential two-year deal.

“We’re just waiting more for them to get back to us. I’m more optimistic something will get done there in the near future just because we’ve made more progress.”

Cordero, 36, has a 2.49 ERA, 36 saves and a 42/18 K/BB ratio over 68 2/3 innings this season. While he has been excellent on the surface, his strikeout rate (5.50 K/9) and fastball velocity (93 mph, down from 95.1 mph career) have reached career-lows.

It appears Cordero is reaching the end, but with Aroldis Chapman expected to get another shot as a starting pitcher and Nick Masset regressing this season, it’s at least defensible to being him back on a two-year deal at a lesser annual salary.

Brewers sign Gio Gonzalez

Gio Gonzalez
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Ken Rosenthal reports that the Milwaukee Brewers have signed Gio Gonzalez. Gonzalez will get a $2 million base salary with $2 million in potential performance bonuses.

Gonzalez was excellent for the Brewers down the stretch last season, posting a 2.13 ERA over his final five regular season starts. While it’s not likely he can replicate that, given how terrible Milwaukee’s rotation has been thus far — they have a 5.74 ERA as a group this season — he can’t hurt.

Not a bad landing pad for a guy who had to settle for a minor league deal with the Yankees before being released over the weekend.