Discussing the team's inability to reach agreement with pitcher Homer Bailey before today's deadline to submit arbitration figures, Reds GM Walt Jocketty indicated that the sides were discussing a long-term extension, reports MLB.com's Mark Sheldon. He further indicated that the club was not concerned with the situations of either of its two prominent remaining arbitration cases, Bailey and closer Aroldis Chapman.
The sides have reportedly had previous discussions on a significant extension. They came close to getting something done today, according to John Fay of the Cincinnati Enquirer, 'We talked a one-year and a multiyear deal," said Jocketty. "We'll keep talking."
In his discussions with Sheldon, Jocketty raised expectations that something would get worked out, saying that he is "optimistic" about reaching a long-term deal. As the GM explained:
"In Bailey's case, we were working on a multi-year [deal]. The agent [Casey Close] has [Clayton] Kersaw and he has [Masahiro] Tanaka also, so he's been tied up with that. We just didn't anticipate getting it done, but we exchanged numbers in the event and we will continue to negotiate and hopefully get something done before the hearing date."
Discussing the terms of the contract, he said:
"I just think it depends on where they feel the market settles in on free-agent pitchers. Hopefully, we're not too far with our estimate and with their estimate about the market going forward. What it will be based on is what market for a guy like Bailey will be in the future."
The recent Clayton Kershaw extension would not be a comparable deal, but would nevertheless play a role, Jocketty explained. "I don't think it affects this one directly with Bailey, but it affects the market as a whole," Jocketty said. "Any time you sign a free agent to a contract, it drags it up a little bit. Kershaw is a special case."
Bailey has been projected by MLBTR contributor Matt Swartz to earn $9.3MM through arbitration in his final run through the process before reaching free agency. He filed at $11.6MM, with the club countering at $8.7MM.
Regarding Chapman, Jocketty said that he had not had much discussion with his representatives at Hendricks Sports. "Actually, this week was the first one we've had," Jocketty said. "I'm not that concerned about it." Swartz projects a $4.6MM tab for the fireballing lefty. That is the exact figure that the team submitted, while Chapman filed at $5.4MM, leaving a modest gap to bridge.
Jocketty's comments indicate that the Reds do not intend to take a "file and trial" approach, at least with these two players. An agent had told FOX Sports' Ken Rosenthal (Twitter link) that Cincinnati was adopting such a policy. It turns out that the team has only taken that position with respect to players whose deals were valued under the $2MM level, tweets Jeff Passan of Yahoo Sports.