Reds betting on Bailey's improvement

Homer Bailey has thrown a no-hitter in each of the last two seasons. Joe Robbins/Getty Images

Earlier this winter, I estimated that a contract extension for Homer Bailey would come in at six years for $102 million. Therefore, I am not at all surprised that the right-hander agreed to a six-year, $105 million deal to stay with the Cincinnati Reds.

A gamble on the future

It is not uncommon for a player to get a big contract based on what he has already accomplished. In Bailey's case, he is getting paid for what the Reds still think he can be.