Michael Wacha's new deal with the Royals gives Reds a blueprint to keep Nick Martinez

If the Cincinnati Reds hope to keep Nick Martinez heading into next season, it's going to be rather costly. The Reds right-hander exercised his opt-out last week and is now a free agent. Martinez is expected to receive a number of contract offers once the moratorium on free agent negotiations is lifted this week.

The Kansas City Royals have given the Reds' front office a blueprint for what Martinez's next contract could look like. On Sunday, the Royals announced a new contract for veteran starter Michael Wacha. According to Mark Feinsand of MLB.com, the three-year deal is worth $51 million. The contract contains a team option for 2028 that could push the value to $72 million.

That is the floor that Martinez can expect this offseason. Wacha was 13-8 with a 3.35 ERA in 166 ⅔ inning pitched and a 1.194 WHIP. Martinez was slightly better with a 10-7 record and 3.05 ERA across 142 ⅓ innings of work. The Reds' swingman posted a 1.026 WHIP and started 16 of the 42 games in which he pitched.

Michael Wacha's new deal with the Royals gives Reds a blueprint to keep Nick Martinez

Wacha and Martinez are less than a year apart in age, and both pitchers were part of the San Diego Padres' staff in 2023. Martinez's two-year, $26 million was right in line with Wacha's two-year, $32 million deal with the Royals last season. Much like Martinez, Wacha had the ability to opt of his contract this offseason, and did so last week.

The Reds now have three options when it comes to Martinez. Nick Krall and Co. can attempt to offer Martinez a similar deal to what Wacha just signed with Kansas City. It's a good bet that three-year deal in the $50 million range would be enough to seal the deal.

The Reds could also decide to extend a qualifying offer. If Martinez accepts, which he might, Cincinnati would essentially be retaining his services for 2025 at the cost of about $21 million. Or, the Reds could decide that a new contract and the qualifying offer are both far too expensive, thereby allowing Martinez to enter free agency without any strings attached.

Regardless of the route Cincinnati chooses, the floor is set. If the Reds hope to keep Martinez on the roster, it's going to cost about $17 million per year through 2027. The ball is in their court.

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