Originally Posted by GoReds
If the Reds offer arbitration, no other team will sign Ramon and give up two picks. Hernandez still has value to the team because he can communicate well with Cueto, Volquez and Chapman. I don't see the Reds cutting him loose unless they feel like they can negotiate a lesser deal for him.
Plus he's coming off a strong year, which means he'll get a nice payday via arbitration, probably more than his option, and definitely more than he would get via free agency. Offering him arbitration would be very risky.