The Cincinnati Enquirer's John Fay tweets that Reds' GM Walt Jocketty has said he will "definitely" pick up Bronson Arroyo's $11MM option for 2011. Jocketty says they'll try to add years to the contract as well. If that fails, Arroyo is essentially on a one-year, $9MM deal, as the Reds would've had to pay a $2MM buy out on the option anyway.
Arroyo, 34 in February, was traded to the Reds from Boston along with $1.5MM in exchange for Wily Mo Pena back in 2006. The trade came as a surprise move, as Arroyo had just signed an extension with the Red Sox two months prior. In February of 2007, he signed a two-year $25MM extension with the Reds that includes this $11MM option.
Arroyo has been a workhorse for the Reds over the course of his Cincinnati tenure, throwing 200 innings or more in every season, and compiling a 3.97 ERA over that time with 6.2 K/9 and a solid 2.6 BB/9. While his strikeouts are down over the past two seasons, his control has improved and he's become more difficult to hit. Arroyo allowed a career-best 7.8 hits per nine innings in 2010 (though that was likely aided by a .246 BABIP -- well below his career .290 mark), helping the Reds to the NL Central Division Championship.
The Reds will have their hands full in trying to extend Arroyo, as he's made it clear this season that he won't accept a discount to stay with the Reds. Back in July, Arroyo told Fay that he wouldn't consider restructuring his contract at a discount like teammate Scott Rolen did. Arroyo said that got burned when he took a discount to stay in Boston and was traded months later, and that he had to look out for his own best interest this time around.
One thing the Reds will have in their favor is that Arroyo has said that he would prefer to remain with the Reds for at least three more years. He cited liking the city and the team's young talent as reasons.