Reports: Reds set to sign RHP Nick Martinez to 2-year, $26M deal

The Cincinnati Reds and right-hander Nick Martinez are close to a two-year, $26 million contract agreement, per reports.

The deal is pending the result of a physical and includes an opt-out after 2024, ESPN reported on Thursday.

Martinez, 33, opted out of the final two seasons on his contract with San Diego to enter free agency.

Martinez finished 6-4 with a 3.43 ERA and one save in 63 games (nine starts) for the Padres in 2023.

He is expected to join the Cincinnati rotation. As a starter last season, he posted a 2.32 ERA and 1.078 WHIP.

He is 27-38 with a 4.31 ERA and nine saves in 198 games (87 starts) with the Texas Rangers (2014-17) and Padres (2022-23). Martinez pitched in Japan from 2018-21.