Pirates center fielder Bryan Reynolds reported to camp early, arriving at the Pirates’ spring facility in Bradenton, Fla. today, a few days ahead of the Feb. 20 mandatory report date for non-pitchers and catchers. In meeting with the Pirates beat, Reynolds acknowledged the offseason trade request, stating that “nothing’s really changed from that front” but adding that his “No. 1 choice would be to sign an extension in Pittsburgh” (Twitter
links via The Athletic’s Rob Biertempfel and Jason Mackey of the Pittsburgh Post-Gazette).
Earlier this month, Jon Heyman of the New York Post reported that the Pirates had put forth a six-year, $76M offer as their most recent bid to keep Reynolds on a long-term deal. Mackey reported in January that the two sides were around $50M apart in their talks. Reynolds didn’t offer specifics this morning but acknowledged that reporting on the situation has been generally on the mark. “Pretty much everything out there has been fairly accurate,” the outfielder said (via Mackey).
All indications from Reynolds are that the situation remains unchanged. Nevertheless, it’s of some note that the 2021 All-Star not only specified that the bridge hasn’t been burned but added that a deal to keep him in Pittsburgh remains his hope. Pittsburgh general manager Ben Cherington has maintained since Reynolds’ trade request became public that his own hope — and the goal of the organization at large — is the keep Reynolds long term. Whether ownership will greenlight a substantial increase in the offer and whether Reynolds would be willing to come down on his own asking price in a compromise will be determined over the next several weeks, in all likelihood.
For context, the Pirates’ offer to Reynolds has at least one recent service time comp: newly acquired Braves catcher Sean Murphy, who signed a six-year, $73M extension earlier in the offseason. However, while both players have between three and four years of MLB service, it’s a flawed comparison for many reasons. Murphy was arbitration-eligible for the first time and projected by MLBTR contributor Matt Swartz to earn a relatively modest $3.5M salary. Reynolds is a Super Two player who’ll be arb-eligible four times as a result; he already signed a two-year, $13.5M contract covering his first two arb seasons last April — a sum that easily tops what Murphy would have earned going year-to-year in arbitration.
Even before Reynolds agreed to that two-year deal, Swartz had projected him for a $4.5M salary in his first trip through the process. Given that starting point and three subsequent trips through the process, Reynolds’ final two arb seasons will likely exceed $30M on their own.
Viewed through that lens, if the Pirates’ offer began in 2024 (as Reynolds is already signed for 2023), it’d be valuing the player’s first four free-agent seasons somewhere around $42-46M in total; Reynolds’ reported asking price more than doubles the annual value on those free-agent seasons. Even if the team’s proposed offer overwrote Reynolds’ 2023 salary, it’d “only” be promising him five years and $69.25M in new money. Again, with his 2024-25 seasons likely topping $30M on their own, that’d be a roughly $35-39M value on three free-agent seasons.
Until the situation is resolved one way or another, trade rumblings surrounding Reynolds will abound. There’s no urgency for the Bucs to move him, as he can’t become a free agent until the completion of the 2025 season. The rebuilding Buccos hope to be contending by that point. However, the closer they allow Reynolds to get to free agency, the more the asking price figures to increase. A trade prior to the season seems unlikely at this point, but it’s possible teams could make a renewed push to acquire him over the summer.
Interest in Reynolds has understandably been heavy, both before and after his trade request. The Yankees, Rangers, Red Sox, Padres, Rockies and Marlins are just a few of the teams that have expressed interest in Reynolds, a 28-year-old switch-hitter with a career .281/.361/.481 batting line, 74 home runs, 97 doubles and 18 triples in 2014 big league plate appearances since his 2019 MLB debut.
