Keep Homer for now -- it's a no-brainer (unless a team wants to greatly overpay for him). If the Reds keep Homer, it opens the door for several options:
1. Can contend in 2014 (I'm not ready to write off this season -- I think we'll surprise some folks and I kind of like the underdog role).
2. If the Reds fall out of contention, they can trade Homer before the trading deadline. He would certainly be one of the most-attractive players on the market.
3. If the Reds stay in contention and don't trade Homer, they will at least get a draft pick if he walks.
4. They still have the chance to sign him to a LTC at any point. I don't think it will happen. But none of us saw the LTC for Votto coming either. I bet the Reds will lock up one of Bailey, Latos or Cueto long term. I'm guessing it won't be Bailey because I think he's made up his mind he's going to try and get as much $ as possible (and who can blame him) but stranger things have happened.
Bottom line: Don't trade him now. That ESPN article is garbage. The writer doesn't even realize that Ervin Santana is a free agent right now. He also makes the Reds seem like they're the Cubs or Astros and have no chance at competing this season. No, this Reds team has talent. Very good starting pitching staff 1-5 even with the loss of Arroyo. Several teams would throw a party if they had a starting rotation of Bailey, Cueto, Latos, Leake and Cingrani. If those guys stay healthy and Votto has a monster year, look the hell out.