Walt is hinting that he wants to sign him long term. Walt wanted to acquire a middle of the order hitter or a leadoff guy this offseason. Walt publically said that they wanted to sign Shin Soo Choo. Walt went looking for trades at the last three trade deadlines. (In fairness he did get Broxton) Outside of Choo and Latos, when Walt says he is trying to get something publically, it rarely happens.
I stand by my prediction. The Reds work out a 1 year deal, Bailey hits free agency, and the Reds get a draft pick, and the fans blame Joey Votto. Not the guy who gives contracts out that hamstring his ability to acquire and retain actual talent.