Here is the latest pertaining to the Reds from MLBtraderumors.com:
"It sounds like the Brandon Phillips extension will get done, writes John Fay of the Cincinnati Enquirer. General Manager Walt Jocketty says that it’s a “complicated contract,” which will take time to be ironed out. That leads Fay to believe that the deal likely involves deferred money.
More from Fay, as he has the impression that the Reds hold little hope of re-signing Francisco Cordero. Fay writes that the Reds might be able to get Cordero back at one-year deal in the $7MM range but would rather see the club turn to an in-house solution instead.
Fay also writes that David Bell’s promotion to Triple-A manager could be a prelude of things to come. The former major league third baseman is probably the top candidate to replace Dusty Baker if the club decides to go in a different direction.
Heyman (via Twitter) also hears that the Phillips extension talks are going well with the Reds, but doesn't know if the two sides are close to a deal. Phillips, who is set to make $12MM in 2012, tweeted on Tuesday that talks are moving in the right direction.
The Reds have talked to Jim Riggleman about a possible job in their organization, Heyman tweets."