Breaking News: Cincinnati Reds Reach Major Extension with Brandon Phillips

According to former Reds GM and current ESPN analyst Jim Bowden, the Cincinnati Reds have signed the star second baseman Brandon Phillips to an extension.

Bowden tweeted today that the two sides agreed to a six year, $72.5 million extension:

"JIM BOWDEN ‏ @JimBowdenESPNxm

Deal now confirmed....Phillips and Reds 6-years $72.5m congrats both Reds and Phillips

"

This reported deal would keep Phillips in Cincinnati through 2017.

This is the Reds second big signing in just eight days. Joey Votto was signed to a 10 year, $225 million extension on April 2.

Phillips has been a cornerstone for the Reds offensively, and bringing him back was a must if the Reds wanted to continue to compete for a World Series title.

Last year, Phillips posted another great season: .300/.353/.457 with 18 HR and 40 SB. That season earned him his first Silver Slugger Award, third Gold Glove and second All-Star Game selection.

Phillips is a leader in the clubhouse, on the field and in the Cincinnati community. Only time will tell if the money and years were worth it but for now, bringing Phillips back was a great move by the Reds.

Update:

According to Reds beat writer John Fay, the Reds have confirmed the Phillips deal. He also stated that the team is planning a press conference but they've yet to announce what it's for. One would have to assume they will be using the press conference to announce the signing.

John Fay‏@johnfayman

#Reds confirm the Phillips deal.

Congratulations BP!