Jan 27, 2012 7:54 AM EST

Joey Votto is signed through the 2013 season and the Reds haven't ruled out inking him to a contract extension before he hits the open market.

"I think that's a challenge, but we've got a lot of challenges," Reds CEO Bob Castellini said. "It's certainly something we would want to do."

Votto, 28, signed a three-year, $38 million contract that covered the remaining three years of his arbitration eligibility last winter.

He is due to make $9.5 million in 2012 and $17 million in 2013, plus he is still due $3.5 million of his $6 million signing bonus.

Via MLB.com