The question at this point is, "What Do You Do With Junior?"
He can't play centerfield anymore without being a physical liablity to himself and a liability defensively to the Reds. You can't move him to a corner position without displacing Kearns, Dunn or Casey. Even if you displaced one of them, you could also being taking playing time away from Willy Mo Pena.
IMO, Griffey is a DH. Nothing more. So if you're the Reds, do you package 40+million to a team like the Devil Rays to just move on and go in a different direction. Or do you keep him on the roster and consider him a fourth outfielder?