The Reds and Cuban left-hander Aroldis Chapman agreed to a six-year, $30.25 million deal on Monday.
Chapman gets a signing bonus of $16.25 million that will be paid over time. Some of the money in his contract will be paid out over a 10-year span.
"Financially, it works for us," general manager Walt Jocketty said. "It does not impact our major league payroll this year in a significant way."
Reds Sign Chapman To Six-Year Deal