If Reds can't agree on a LTC with Bailey, they should immediately market him for trade and try and get a substantial return. Who knows if they will, but I would try.
But I doubt this happens. Reds have designs on contending. So if no LTC I expect a one-year deal, no immediate trade, possibly a deadline trade if a good offer, or a sandwich pick.
Tanaka a Yankee, per Rosenthal.
I'm glad he's not a Cub.
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