MLB.com's Mark Sheldon reports that the Reds and Scott Rolen have restructured the third baseman's contract, which will keep him in Cincinnati for two additional seasons. The new contract will pay Rolen $23.625MM through 2012, including a $5MM signing bonus deferred without interest over the next three years.
Rolen's original contract called for an $11MM salary in 2010, however under the new agreement he'll earn $6MM next year, and $6.5MM in both 2011 and 2012. The Reds gain about $5MM in payroll flexibility this offseason with the move, something they sorely need.
The 34-year-old Rolen hit .270/.364/.401 with the Reds after coming over from Toronto at the trade deadline. His defense at third remains outstanding according to UZR. Baseball America recently named third baseman Juan Francisco the team's fifth best prospect, so he might end up moving to another position or becoming trade bait.