The Cincinnati Reds and pitcher Homer Bailey have agreed to a six-year, $105 million contract extension, according to media reports on Wednesday. The deal includes an option for a seventh year that is worth $25 million with a $5 million buyout. Therefore, Bailey's deal is worth a guaranteed $110 million.
The 27-year-old went 11-12 with a 3.49 ERA and a 1.124 WHIP in 209 innings pitched (32 starts) with the Reds in 2013 (110 ERA+; 3.2 WAR). The highlight of Bailey's season came on July 2, against the San Francisco Giants. Bailey twirled the second no-hitter of his career, pitching nine fantastic innings on 109 pitches (74 strikes) and striking out nine. Bailey's 2013 campaign was arguably the best of his career, and the Reds hope he will continue to get better throughout the extension to his contract.
Over his career, Bailey has been a very good pitcher, or a very bad pitcher. In starts where Bailey has took the win, he is 49-0 with a 1.81 ERA and a 3.07 K/BB ratio. In starts where Bailey has taken the loss, he is an 0-45 with an ugly 8.12 ERA and a terrible 1.74 K/BB ratio. In starts were Bailey has gotten a no decision (49 starts), he has posted a 4.17 ERA and a 2.90 K/BB ratio. As you can see, Bailey can be dominant, average, or terrible. Overall, Bailey is 49-45 with a 4.25 ERA and a 2.55 K/BB ratio in 853 innings pitched, all with the Reds.
Bailey and the Reds have been negotiating a contract extension for some time, so it was almost a given that this deal would have happened before tomorrow's scheduled arbitration hearing. It's a little surprising that Homer Bailey would be paid over $100 million, but the Reds do know more than the average fan, and they've still got all his prime ahead of him. The baseball world will just have to wait and see if Bailey's contract will pan out for the Reds.
The Texas native was drafted by the Cincinnati Reds in the 2004 amateur draft out of high school. He originally made the Major Leagues in 2007, when he was just 21-years-old. He sped through the minors, which included a 2006 season where Bailey posted a 2.47 ERA in 138 2/3 innings pitched. Bailey made his first noise in the Major Leagues back in 2012, when he posted a 3.68 ERA in 208 innings with the Reds.