Paul Hoynes of the Cleveland Plain Dealer with the report:
Heard Reds getting close to 6-year deal in $100 million range with Homer Bailey. Bound to influence Indians talks with Justin Masterson.
— paul hoynes (@hoynsie) February 17, 2014
Previous reports had indicated that there was an “enormous gap” in negotiations between the Reds and Bailey. If a deal can’t be hammered out soon, Bailey is on track to go to an arbitration hearing. In his third and final year, Bailey filed for an $11.6 million salary for 2014 while the Reds filed for $8.7 million, putting the midpoint at $10.15 million.
Obviously, a six-year deal in the $100 million range puts the average annual value just under $17 million per year, a significant upgrade over what Bailey is projected to earn on a one-year deal to avoid arbitration, or what he would be awarded by an arbitrator.
