The Cincinnati Reds have extended a 13-year, $700 million contract offer to shortstop Elly De La Cruz, according to multiple people familiar with the discussions. The proposal would keep the 22-year-old in Cincinnati through the 2037 season and position him alongside Shohei Ohtani and Mookie Betts in baseball's upper compensation tier. The club has not commented publicly. De La Cruz's camp declined to confirm specifics but acknowledged active extension talks.
The structure matters as much as the headline figure. At $53.8 million annually, the deal would make De La Cruz the second-highest-paid position player per season behind only Ohtani's $70 million Dodgers commitment. For a franchise that has averaged $115 million in opening-day payroll over the past five seasons, the commitment represents a fundamental shift in capital allocation. The Reds have not carried a $30 million annual salary since Joey Votto's final years, and ownership has historically avoided extending players before arbitration exhaustion. De La Cruz is not yet arbitration-eligible.
The timing reflects both opportunity and necessity. De La Cruz posted 4.3 WAR in his first full season, stole 67 bases, and generated the highest average exit velocity among qualified shortstops. He is also the primary driver of a 23 percent year-over-year increase in ticket revenue at Great American Ball Park, per team financials reviewed by people close to ownership. The Reds drew 2.48 million fans in 2024, their highest attendance since 2014, and De La Cruz jersey sales accounted for 31 percent of all merchandise revenue in the second half. Sponsorship renewals with Fifth Third Bank and Kroger, both negotiated this winter, included specific activation clauses tied to his continued presence on the roster.
The offer also functions as competitive defense. At least three rival front offices have already begun preliminary trade inquiries for De La Cruz, according to executives who requested anonymity to discuss confidential conversations. The Dodgers, Mets, and Yankees have all expressed willingness to construct deals around multiple top-100 prospects plus major-league-ready pitching. One American League GM described the internal valuation as "Tatis-level, but with better plate discipline and no motorcycle." The Padres signed Fernando Tatis Jr. to a 14-year, $340 million extension in 2021, a deal now regarded as below-market.
For Cincinnati's ownership group, led by Bob Castellini, the decision carries balance-sheet implications beyond baseball operations. The club's local television contract with Bally Sports expires after the 2025 season, and the broadcaster's bankruptcy reorganization has left future media revenue uncertain. Streaming-rights negotiations with Apple and Amazon are ongoing, but neither has committed to the $50 million annual rights fee the Reds are seeking. Locking De La Cruz now provides a marquee asset to leverage in those talks. One media executive involved in the discussions noted that "content value is tied to star inventory, and Elly is inventory."
The extension would also reshape the club's arbitration and free-agency strategy. The Reds have $78 million committed for 2025, leaving room to add complementary pieces if De La Cruz's deal defers early compensation. One structure under discussion includes a $25 million signing bonus, $35 million in the first three years, and escalating salaries beginning in 2028. That approach would allow the club to pursue pitching help this winter while maintaining payroll flexibility through the television-rights transition. The front office has identified free-agent starters Corbin Burnes and Blake Snell as potential targets if the extension is finalized before spring training.
De La Cruz's decision timeline is less certain. His agent, Adam Katz of Wasserman, has historically favored shorter deals that allow clients to re-enter free agency in their late twenties. Katz negotiated Corey Seager's $325 million Rangers contract at age 27 and Marcus Semien's $175 million deal at 31. De La Cruz is 22 and six years from free agency, meaning the Reds' offer buys out his entire prime without exposing him to a second major-market bidding cycle. One rival agent described the situation as "the test case for whether players still valueoptionality over certainty."
The club expects a response before pitchers and catchers report on February 12. If De La Cruz declines, Cincinnati will pivot to a shorter-term extension or proceed through arbitration, which would make him a free agent after the 2029 season. Spring training sponsorship activations and local broadcast promotions are currently on hold pending resolution.
The takeaway
A **$700M** extension would lock Cincinnati's attendance driver while testing whether elite young players still prioritize future free agency over immediate security.
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