The Cincinnati Reds have opened talks with Home Bailey over a new mega money, long term deal, reports CBS Sports.
If a deal can be finalized it is believed it will be worth between $100m and $110m spread over six years and could include an option for a seventh year.
Bailey will be available for free agency at the end of the 2014 season but the hope is that a new long-term deal will be agreed in the near future.
The right-hander has an arbitration hearing scheduled for this Thursday and is believed to have a one year option to fall back on should no agreement be found.
Currently Bailey is believed to be asking for $11.6m in arbitration with free agency in 2014 while the Reds have counteracted with an offer of $8.6m.
The big money deal will see Bailey earn almost double that offer per season at around $16.7m.
Bailey, 27, is 49-45 over his career and finished on 11-12 with a 3.49 ERA in the 2013 season.