Cincinnati Reds GM Nick Krall famously told reporters in 2022, “we must align our payroll to our resources”. The payroll going into the 2024 season will give Krall more flexibility and resources than he's ever had as a general manager.
According to Spotrac, the Reds have a projected payroll of $37 million going into the 2024 season. Joey Votto is in his final year of his 10-year/$225 million contract extension. Additionally, the combined $29.5 million owed to Mike Moustakas and Will Myers will come off the books.
The Reds will no longer have any big contracts on the payroll next year. In fact, there is only player who is signed long term going into next season. Hunter Greene, the Reds 2017 first-round pick, is the only player under contract for the 2024 season.
Hunter Greene is the only Reds player under contract for the 2024 season.
On April 18, 2023, Hunter Greene and the Cincinnati Reds agreed on a six-year/ $53-million contract extension. The agreement includes many performance-based incentives and includes a $21-million option for 2029 with a $2-million buyout. The flamethrower is the only player on the entire roster that has a fully guaranteed contract.
Although the Reds payroll is reduced, the front office will have many decisions to make with club-options once the 2023 season comes to a close. Joey Votto has a $20-million club-option with a $7-million buyout for the 2024 season. The club option is unlikely be exercised; however, he could return on a team-friendly deal.
Curt Casali has a $2.5-million mutual option that could be exercised if both parties agree. However, Luke Maile has outperformed Casali this season and could be re-signed this winter. Meanwhile, Tyler Stephenson is under team control for another three years.
Stephenson and Jonathan India both enter their first year of arbitration and will see significant pay raises. However, with a crowded infield and many trade rumors at the August deadline, India may be moved during the offseason.
Most of the 2024 Cincinnati Reds payroll will consist of pre-arbitration players making roughly the league minimum. With Hunter Greene being the only player under contract, it will be interesting to see who else the Reds decide to extend for the future.