Bronson Arroyo Gets $25 Million Extension

Bronson Arroyo has signed a two-year, $25 million extension with the Reds that carries him through 2010. The Reds already had Arroyo signed at a bargain rate in 2007 and 2008. Now Arroyo gets a couple million more dollars in 2008, plus $9.5 million in 2009 and $11 million in 2010. The Reds have an $11 million option for 2011 that can rise to $13 million if Arroyo pitches enough, plus a $2 million buyout.

I honestly have no idea if this deal is any good or not. I'd be extremely wary of signing someone, especially a pitcher, to an extension that doesn't even kick in until several years into the future. That's a lot of risk. And it doesn't seem that the Reds got much of a discount despite assuming so much risk here. Also, the Reds are probably buying high on Arroyo, which is rarely a good idea. I'll give this one a thumbs down, with the caveat that I have no idea how the market is going to be in two years when Arroyo would've become a free agent.