Reds Decline Joey Votto's $20M Contract for 2024 MLB Season, Thank Him For Career

The Cincinnati Reds announced Saturday they declined Joey Votto's $20 million club option for the 2024 MLB season.

The six-time All-Star addressed the Reds' decision on Sunday morning and discussed the importance of Cincinnati:

Votto addressed his future on the Dan Patrick Show in October. He said he was looking to play at least one more year and hoped to return to Cincinnati. He acknowledged the latter was out of his hands because of the team option.

Votto continued to perform at a reasonably high level in 2023 given his age (40). In 65 games, he had 14 home runs, 38 RBI and slugged .433, and he was almost right at the league average in OPS+ (99), per Baseball Reference.

There's no question the 2010 National League MVP's skills have diminished. His .202 average and .314 on-base percentage were career lows, and his strikeout rate eclipsed 25 percent for the second straight year, per FanGraphs.

Votto missed the start of the campaign while continuing to recover from his 2022 shoulder surgery, and he landed on the injured list in August when an issue with the shoulder flared up.

The Reds had to consider whether the current version of Votto was worth a $20 million salary. Granted, the real cost to the team was only $13 million since his option carried a $7 million buyout.

The Cincinnati Enquirer's Gordon Wittenmyer argued Votto's value more than covered that amount. Beyond what he does on the field, his status as a Reds legend carries a tangible benefit for the franchise. A not insignificant number of fans come to see him play, and his leadership in the clubhouse can be crucial with such a young roster around him.

"It's incredible. It just keeps getting better," Jake Fraley said in June in reference to the first baseman's impending 2023 debut. "Another guy who understands and has been a part of that culture aspect and building that. To be able to have a guy like that with his presence in the clubhouse is just going to make things even better."

The Reds' future looks bright considering Elly De La Cruz, Christian Encarnacion-Strand, Noelvi Marte, Matt McLain, Hunter Greene and Andrew Abbott are all 24 or younger. But it's always important to balance youth and potential with experience. That added to the difficulty in reaching a final decision over Votto's option.

Excepting 2021, Votto's performance has been largely the same the last five years. Here's his final OPS+ since 2019: 95, 107, 139, 89 and 99. The 2024 season will presumably be a continuation of the trend, with his decline potentially be more pronounced.

But the Reds might come to regret not signing on for an 18th year of the Joey Votto Experience.