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Castellanos won’t opt out, keeps contract with Reds

CINCINNATI (AP) — Outfielder Nick Castellanos decided not to opt out and is keeping the remainder of his contract with the Cincinnati Reds that guarantees $48 million for the next three seasons.
The 28-year-old hit .225 with 14 homers and 34 RBIs in the pandemic-shortened season, his first with the Reds after signing a $64 million, four-year contract as a free agent. His pay was reduced from $16 million to $5,925,926 prorated because of the shortened season.
His deal gave him the right to opt out and become a free agent again following the 2020 World Series. Instead, he keeps salaries of $14 million for 2021 and $16 million each for 2022 and 2023 plus a $20 million mutual option for 2024 with a $2 million buyout.
Castellanos also has the right to opt out of the deal after the 2021 World Series.