A source has told that Reds pitcher Homer Bailey has agreed to a six-year, $105 million contract with the club on Wednesday to avoid arbitration. It comes with a mutual option for a seventh year worth $25 million with a $5 million buyout.

Their have been a lot of rumors about these deal in the works for days but now it seems to be coming together. The contract includes a mutual option for a seventh year which carries a $25 million salary or a $5 million buyout. Bailey was due to hit free agency next offseason, but he'll now be under team control through at least 2019.ANALYST: Drew Phelps