I'm sure there have been plenty of threads about this, so I apologize if this is redundant. From what I hear, we can expect the Reds to have about $70-$75 million for the salary next year.
Here are the estimates I've found for next year's players. If any of it is inaccurate, please let me know.
5.200 Jason LaRue
1.325 Javier Valentin
~0.900 David Ross (arbitration eligible)
1.500 Scott Hatteberg
~0.400 Brandon Phillips (pre-arbitration)
~0.400 Edwin Encarnacion (pre-arbitration)
0.925 Juan Castro
10.500 Adam Dunn
~9.300 Ken Griffey, Jr. (or $12.5 million if you include the deferred portion)
1.700 Ryan Freel
~0.400 Chris Denorfia (pre-arbitration)
~6.000 Aaron Harang (arbitration eligible)
3.800 Bronson Arroyo
~4.000 Kyle Lohse (arbitration eligible)
9.000 Eric Milton
~0.400 Elizardo Ramirez (pre-arbitration)
~0.400 Brandon Claussen (pre-arbitration)
2.250 Rheal Cormier
~0.400 Gary Majewski (pre-arbitration)
~0.400 Matt Belisle (pre-arbitration)
~0.400 Todd Coffey (pre-arbitration)
~0.400 Bill Bray (pre-arbitration)
0.850 Paul Wilson's buyout
+2.000 if Rich Aurilia accepts the option
That's about 60-65 million dollars already tied up in 22 players. That tells me that about $10 million can be used for a couple utility players and a starting pitcher. Does that sound realistic?