Hal McCoy is reporting on his new blog that the Reds and Brandon Phillips have agreed to a long term contract extension. Terms were not available. We'll see... some of the long term deals that have been signed this offseason have been extremely good deals for the teams, but those usually have been for pre-arbitration eligible players (Tulowitzki, Granderson, etc).
Unfortunately, I'm leaving town for an interview first thing Saturday, and therefore might not have a chance to post an analysis until mid-next week on whatever the deal turns out to be. But I will do my best to break down the deal when I have a bit of time. In the meantime, here's a link to the post where I tried to analyze his arbitration case.