Bailey agrees to $105 million deal

Bailey had an arbitration hearing scheduled for Thursday in Florida, but it won’t be necessary. The Reds will instead announce the six-year deal at a press conference.

Bailey’s agent, who also represents Derek Jeter, is in Tampa and said early Wednesday that no deal had been signed. The comment was reiterated by Reds general manager Walt Jocketty, who said the same. The only signing Bailey was supposed to do was a new deal with the Topps Baseball Card company, but later in the day he finalized his new contract that keeps him with the Reds for at least six more years.

The deal reportedly has a club option for a seventh year at $25 million with a $5 million buyout.

Bailey was working out with the team Wednesday.

The former first-round draft pick and top prospect has a 49-45 lifetime record with a 4.25 ERA in 143 starts since making his big-league debut in 2007 when he was 19.

But over the last three seasons he is 33-29 record with a 3.79 ERA with two no-hitters in the last two years. After throwing his second no-hitter last year Bailey smiled and said, “Just means more money.” Indeed, it certainly did.

In 32 starts last season he was 11-12 with a 3.49 ERA. He had a career-best 209 innings and a career-best 199 strikeouts.

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