What will it cost for the Reds to sign someone that rejected a Qualifying Offer?

The Cincinnati Reds are said to be in the market for some top-dollar free agents this offseason. While the team has yet to be linked to any specific player, the Reds have money to spend.

With only Hunter Greene and Luke Maile under contract for 2024, and the impending departure of Joey Votto, Cincinnati's payroll heading into next season could be below $50-million.

And while adding a high-priced free agent may be on the docket, there's more than just money to think about when signing some of this year's free agent class. A number of free agents could have a Qualifying Offer attached to their signing.

The QO works as a one-year deal that allows the player to make the mean salary of the Top 125 players in Major League Baseball. If a player rejects that offer and enters free agency, the team receives an additional draft pick.

Recently, the Cincinnati Reds have extended Qualifying Offers to Trevor Bauer (2020) and Nick Castellanos (2021). Both players rejected the QO and signed elsewhere. Bauer landed in LA with the Dodgers and Castellanos signed with the Philadelphia Phillies.

In exchange, the Reds received draft pick compensation. Cincinnati selected Jay Allen with the 30th pick in the 2021 MLB Draft (Bauer) and Sal Stewart in the 2022 MLB Draft (Castellanos).

In 2022, 12 players declined the QO and two accepted. Texas Rangers pitcher Martin Perez and San Francisco Giants slugger Joc Pederson each accepted the Qualifying Offer and will hit the free agent market this offseason.

Players like Dansby Swanson (who left the Atlanta Braves to sign with the Chicago Cubs) and Willson Contreras (who left the Chicago Cubs to sign with the St. Louis Cardinals) declined the QO.

While it's certainly possible that Cincinnati could feel good enough about the stockpile of talent in their farm system that they'd be willing to give up a draft pick, that idea would seem to fly in the face of everything the Reds' front office has been preaching for the past few years.

A few names that are likely to receive Qualifying Offers this winter include Sonny Gray (Minnesota Twins), Teoscar Hernandez (Seattle Mariners), and Aaron Nola (Philadelphia Phillies).

If the Cincinnati Reds have any interest in those players, or others who may receive a QO this offseason, they'd better be willing to spend money and give up a draft pick.

As far as the Cincinnati Reds are concerned, that could make the prospects of signing a few top-flight free agents much more appealing, as draft compensation would not be tied to their signing a contract.

According to MLB.com, Detroit Tigers pitcher Eduardo Rodriguez, Toronto Blue Jays hurler Hyun Jin Ryu, and Texas Rangers reliever Will Smith are ineligible to receive a QO this year.