It’s almost impossible to talk about the Cincinnati Reds without talking about money.
How much they have. How much they don’t.
Who they could sign. Who they must deal away.
Who does – and does not – have
a long-term contract extension.
Despite them consistently operating in the bottom third of the league in terms of average annual payroll, the Reds have at least historically not had to have their direct revenue streams talked about much in public. That, though, hasn’t been the case in recent seasons, as their local TV deal has continued to be a thorn in their side.
You once watched their broadcasts on Fox Sports Ohio. You’ve since seen them play on Bally, on FanDuel, and heard the name ‘Diamond Sports Group’ more times than you’d ever cared to hear. Over the last seven or so seasons, the strain put on existing deals that were based on the classic cable-cord model has been exacerbated exponentially, with increased use of streaming hitting the old contracts right in their wallets.
The Reds aren’t alone in this, as nine MLB clubs are waiting to hear what happens next to Main Street Sports Group, the operator who is now in charge of the regional FanDuel networks that once were run by the now bankrupt Diamond Sports Group. The math (and the overall problem) is quite simple – deals were made and revenue promised based on estimates of just how many people would tune in to watch the old fashioned way, but technology (and the ways in which streaming access has flourished) has put pressure on carriers to amend those terms or simply lose all leverage. As they’ve tried to adapt, though, they’ve lost said leverage to gouge viewers, and now they simply don’t make as much on each broadcast as they thought they would when they signed deals to broadcast local games for teams.
As a result, they don’t have the money to pay what they said they’d pay. The St. Louis Cardinals even got straight up stiffed on a payment last month, as The Athletic reported earlier on Wednesday, and the other MLB clubs (as well as several NBA and NHL clubs in similar situations) are now waiting anxiously to find out if that will happen to them next. Will they simply not get paid? Will MLB step in to run the local broadcasts (as they have in other markets)? Will Main Street Sports Group get sold to someone who’ll find the money?
It’s enough to cause headaches to any team involved, but the Reds, specifically, must have migraines. Their ownership group is spread between so many different entities that this revenue hiccup cannot simply be wiped away by one single owner saying screw it, sign the guy and I’ll figure it out later. Instead, every single move they make is based on pre-agreed upon budgets signed off on by the litany of owners, and any minor tweak to that forces a return to the round table for another set of negotiations. So, this going on with just over a month remaining to set their roster prior to spring training beginning is quite the conundrum for Cincinnati’s front office and operations crew to manage.
Do they have $8 million to spend? $1.5 million?
Are they actually over budget given a revenue pause?
This hiccup isn’t the lone reason why the trade market has gone completely silent and free agent spending has been incredibly slow to take off this offseason, but it’s surely one of the very significant driving factors. For the Reds, that just might mean they sit even more idle than they’ve already been as the dust settles.
In other news from The Athletic, Brady Singer might be a fit for the New York Mets, who are checking into the trade market for starting pitching. He’s set to be Cincinnati’s highest-paid player in 2026 at a bit over $11 million in his final year of team control, and moving him sure would help bridge any revenue shortfall from the stuff I talked about up above. C. Trent Rosecrans talks about the club’s starting pitching depth in his latest look at the team’s roster, too.
Over at Reds.com, Mark Sheldon did a Q & A with readers on Monday that discussed a wide range of topics, including the likelihood that any current Reds are in line for long-term extensions.
The prospect crew at MLB Pipeline made some predictions about how things will shake out in 2026, and Jonathan Mayo picked Sal Stewart to be the NL Rookie of the Year. That’s pretty cool! Sal even got some light support in their poll of MLB execs on the 2026 NL ROY outlook.
