Seth and Sam Levinson, the agents for for Phillips, are the same pair that helped the 30-year-old second baseman work out the current four-year, $27MM contract that he's currently finishing up. It's already all but decided that the Reds will exercise Phillps' $12MM option for the 2012 season, but it's been well-publicized that Phillips would consider merely exercising the option a "slap in the face."
Current discussions are expected to be preliminary, and Jocketty tells Sheldon that the negotiations could very well carry on into the winter. We've seen a few September extensions from other teams this season (Chris Carpenter, Tim Byrdak, and Lance Berkman), but none of those three signed a deal that would be of the size or magnitude that it would require to lock up Phillips.
Phillips has certainly upped his stock in September, batting .326/.402/.628 with six homers entering play today to raise his season line to .301/.352/.459. His .811 OPS would be his highest since the .816 mark he posted in his 30-30 season in 2007, while his OPS+ of 120 would be a career-high.