Mat Latos, the Reds marquis acquisition of a winter ago, has pitched in the bigs for 639 innings over four years. He has three more years of team control (2013, 2014, and 2015) in which he will be able to earn gradually more money (the estimate of arbitration is 20%, 40%, and 60% of his "true market" worth).
According to John Fay, Mat Latos has at least the next two years figured out. He'll get paid $4.7 Million this year and $7.25 Million in 2014. He will be under the Reds' control in 2015, but he has no contract with them figured out quite yet. Don't worry about it, it's way in the future.
Basically this deal Sounds About Right. Barring a long-term deal, getting a stud pitcher for agreeable rates is pretty much the best possible solution. Latos gets to see his first giddily-large checks come in with a wishbone C in the corner, the Reds get Latos' still-young, still-live arm for the next couple of years. Maybe now Latos can check out area rescue shelters for new pets, perhaps even doing uncomfortable advertisements for the local chapter of Orphans of the Storm ("Hey Kids. I hate San Francisco, but I love Scottish Folds. Now get yerself a goddam cat.").
To be honest, this sort of thing is basically just notary work. The Reds knew the game, Latos knew the rules, and it's not like they just can't decide to go long-term if they later see fit to do that. If Latos' stock rises so much that he's out of the Reds' price range in three years, it's because he's pitched incredibly well in his time in the Reds' uniform. If he continues to be doing his thing, we're great. There's no downside, unless you're one of those people who hates Latos for some strange reason. Yeah, you, Grant Brisbee. Don't you know this is a Reds blog? Anyways, player control is awesome.
Homer Bailey is the only one who doesn't have a contract figured out yet, which is probably also good news, because it means they're serious about figuring out something long-term.
The Reds' only free agents after this season are Arroyo, Choo, Parra, and Massett.
Pitchers and catchers reported, Latos got paid, and Bailey is going to get paid. There is just basically like just good news in Redsland today.