The latest from The Queen City, courtesy of MLB.com's Mark Sheldon ...
- Reds GM Walt Jocketty said the team and second baseman Brandon Phillips have "made progress, but we're not close" in negotiations for a contract extension. The Reds have already exercised Phillips' 2012 option, so he's in the fold for next season, but he has been vocal about wanting a multiyear extension beyond that for a while now. John Fay of the Cincinnati Enquirer speculated recently that the Reds are probably hoping to extend Phillips, 30, for something like four years and $48MM, while Sheldon points out that the Dan Uggla's five-year, $62MM pact with the Braves last offseason is a recent high-water mark for second basemen.
- As well, there have been "no new developments" between the Reds and free agent closer Francisco Cordero, according to Sheldon. Jocketty did not meet with Cordero's agent during the General Manager Meetings earlier this week in Milwaukee. "If we did not sign Coco, we'd first look outside of the organization," Jocketty said.
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