Report: Johnny Cueto seeking $200 million “or thereabouts”

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The Reds and starter Johnny Cueto didn’t reach an agreement on a contract extension before the right-hander’s Opening Day deadline. In fact, the Reds were so sure they wouldn’t be able to strike a deal, they didn’t appear to have even submitted an offer to Cueto, Jon Heyman of CBS Sports reports. Per Heyman, Cueto is reportedly seeking a $200 million contract “or thereabouts”.

Cueto, 29, is coming off of the best season of his career, finishing second in NL Cy Young balloting to Clayton Kershaw. He posted a 2.25 ERA and a 242/65 K/BB ratio in 243 2/3 innings. Cueto has finished with an ERA below 2.85 in each of the last three seasons (min. 20 starts).

Given the recent contracts signed by Max Scherzer ($210 million over seven years) and Jon Lester ($155 million over six years), it’s understandable why Cueto is holding out for a big payday. However, he’ll be joining a very crowded market for free agent starting pitchers this off-season. Barring new extensions, he’ll be joined by Doug Fister, Yovani Gallardo, Scott Kazmir, Mat Latos, Mike Leake, David Price, Jeff Samardzija, Jordan Zimmermann, and potentially Zack Greinke if he opts out of his contract with the Dodgers. The saturation of the starting pitching market could take a year or two and quite a few million off of Cueto’s final price.

The Reds should be expected to shop Cueto heavily leading up to the July 31 trade deadline.

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.