According to John Fay of the Cincinnati Enquirer, the Reds and Homer Bailey have avoided arbitration by agreeing to a one-year contract. CBS Sports’ Jon Heyman hears that the deal is worth $5.35 million.
Bailey requested $5.8 million and was offered $4.75 million by the Reds when arbitration figures were exchanged last month, but the two sides were able to get something done in order to avoid a possible hearing on Monday. The 26-year-old right-hander remains under team control through 2014 and Reds general manager Walt Jocketty plans to revisit the idea of a multi-year extension at some point.
Bailey struggled in his initial chances in the major leagues, but the 2004 first-round pick has made some real strides over the past two seasons, including a 3.68 ERA and 168/52 K/BB ratio over a career-high 208 innings last year. He had a 3.21 ERA after the All-Star break, highlighted by a no-hitter against the Pirates on September 28.