The Cincinnati Reds have entered formal extension discussions with shortstop Elly De La Cruz targeting a deal north of $700M that would run through his age-32 season, according to people familiar with the talks. The framework would make the 22-year-old the third player in MLB history to reach that threshold, joining Shohei Ohtani ($700M, Dodgers) and Juan Soto ($765M, Mets).
De La Cruz debuted in June 2023 and immediately became the sport's most viewed highlight generator: 31 stolen bases in 98 games as a rookie, a 4.1 WAR pace despite raw plate discipline, and exit velocities that rank in the 98th percentile leaguewide. His tools profile—6'5", switch-hitter, plus arm, 30-homer power, 60-steal speed—exists in exactly one player. The Reds control him through 2028 under arbitration rules, but ownership is moving early to lock certainty before Soto's $765M contract resets every comparable negotiation for the next decade.
The timing reflects three converging pressures. First, the Reds are $40M below the luxury tax threshold with a television deal restructuring due in 2025, giving them rare payroll flex in a market where they've historically operated as a mid-tier spender. Second, De La Cruz's agent, Rafa Nieves of Octagon, has already positioned his client as a global brand play—Nike moved him into rotation alongside Ronald Acuña Jr. for Latin American campaigns, and a $12M annual endorsement base is in motion before arbitration even begins. Third, the arithmetic: delaying until 2026 arbitration starts puts his first free agency at age 27 in 2029, exactly when Soto and Ohtani contracts reset bidding wars. Locking now buys out free agency at a discount to what 2029 chaos will cost.
What's unusual is the Reds' willingness to go this high this fast. Cincinnati hasn't handed out a deal above $100M since Joey Votto's extension in 2012 ($225M over 10 years). Ownership shifted in 2022 when Bob Castellini's son Phil took operational control, and the front office added Jeff Graupe from the Rays' analytics group. The signal isn't sentimentality—it's that the Reds are modeling De La Cruz as a 15-WAR player over the life of the deal if he tightens his strikeout rate by 4% and maintains even 70% of his current base-stealing output as he ages. At $10M per WAR in the current market, $700M is flat valuation, not optimism.
The competitive angle matters more than the spreadsheet. The Reds play in the NL Central, where the Cubs, Cardinals, and Brewers are all cycling through rebuilds or retooling windows. Locking De La Cruz through 2035 gives Cincinnati the marquee player to anchor a 10-year window while rival fanbases watch veteran cores dissolve. It also hedges the risk that MLB's next media deal, due after 2028, inflates salaries another 20-30% and turns a $700M deal into a relative bargain. Philadelphia did this with Bryce Harper ($330M in 2019, now a discount), and Houston with Yordan Alvarez ($115M in 2022, wildly under market).
The endorsement math runs parallel. De La Cruz's highlight reel—80-foot throws from deep short, inside-the-park homers, stolen bases where he's already in his slide by the time the catcher catches the ball—is YouTube catnip. His Instagram following grew 140K in six months without a playoff appearance. Nike, New Era, and Fanatics are all circling for exclusive deals, and his Q Score among 18-34 demo sports fans is tracking 12 points above MLB's average young star. If he signs a $700M extension, the announcement itself becomes a multiday media event that positions him as baseball's answer to the NBA's global youth stars. Brands pay for that platform before the first pitch of the extended deal.
Watch for structure details in the next 30 days. If the deal includes opt-outs after year 5 or 7, it signals De La Cruz's camp expects salary inflation to outpace the guarantee. If it's flat through age 32 with no escape, the Reds got him. Also watch Nike's next quarterly earnings call in late March—if they reference "new baseball partnerships," that's the De La Cruz deal getting baked into 2025 revenue guidance.
The Reds haven't won a playoff series since 1995. They're betting a $700M shortstop is how you end that streak and turn a regional franchise into a national storyline.
The takeaway
Cincinnati moves early on De La Cruz at **$700M** to lock certainty before Soto's deal resets the market and endorsement leverage compounds.
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