According to Ken Rosenthal, the Reds have re-signed catcher Ramon Hernandez to a one year deal. Rosenthal says the deal has a vesting option for 2011 if Hernandez plays 120 games in 2010. He played in 81 games last season and has played in 120 or more games just twice in the last 6 seasons. No other details have been released on the terms yet.
The Reds traded Ryan Freel and prospects Justin Turner and Brandon Waring to the Orioles last season for Hernandez. He came to the Reds and batted .258/.336/.362 in 331 plate appearances last season, which is very similar to the .258/.319/.395 he posted in the previous two seasons combined with the Orioles. It shouldn't be a surprise then that his projections fall in a similar category. CHONE has Hernandez at .253/.322/.387 and ZiPS has him posting a .255/.324/.385 line. Neither line is all that impressive.
I'm optimistic that given the budget concerns, the Reds haven't overpaid on this deal. However, given the $8.5 million option that the Reds had to decline prior to signing Hernandez, I wouldn't be surprised if the dollar amount is more than any of us would have given to him.
The real key though is that Hernandez's playing time needs to be balanced with Ryan Hanigan. Neither probably deserves the title of everyday catcher, but I think together they could make a decent platoon. They're not going to hit a ton, but defensively they are solid and I think the Reds could do much worse at the catcher position.
UPDATE: Mark Sheldon has the details on Twitter:
Terms on R. Hernandez signing: $3M for 2010 and $3.250M for vesting option in 2011 that kicks in with 120 games played.