CINCINNATI -- The seal on offseason trade speculation about Reds shortstop Elly De La Cruz was broken last month by none other than former Reds great Joey Votto. Buzz hasn't faded away, despite there being no known discussions and denials of trade talks by president of baseball operations Nick Krall.
Votto was asked what his top priority would be if he were Cincinnati's general manager.
"I would trade Elly for as many prospects as possible, to start," Votto told the Foul Territory podcast in October. "Are you going to give up a half or a third of your payroll on one player? It doesn't make sense."
Questions about De La Cruz potentially being moved by Cincinnati have yet to cease.
How did it get here?
Despite having De La Cruz, National League Rookie of the Year Sal Stewart and electric starting pitcher Chase Burns, the 75-win Reds are coming off a last-place finish in 2026. Their roster has several holes and needs multiple upgrades to be a contender again.
In early 2025, De La Cruz turned down what Krall described as the largest contract offer in Reds history. Votto's 10-year, $225 million extension signed in 2012 remains the franchise record. Burns signed a seven-year, $105 million contract extension in July. Stewart has yet to have serious extension talks with the club, but once noted he was "open to it."
The 24-year-old De La Cruz, who debuted on June 6, 2023, will be a free agent after the 2029 season. His agent, Scott Boras, rarely has clients sign extensions before hitting the open market.
Soto an example?
For a blueprint of what could happen, either this offseason or before the 2027 Trade Deadline, look no further than megastar Juan Soto, a friend of De La Cruz's and a fellow client of the Boras Corporation. At 23 years old and with four-plus years of big league service time already, Soto and veteran Josh Bell were traded from the Nationals to the Padres in an eight-player blockbuster on Aug. 2, 2022.
The prospect haul for Washington was immense. It included shortstop CJ Abrams and outfielder James Wood, both of whom have since become two-time All-Stars. Lefty starter MacKenzie Gore, a 2025 All-Star, pitched three years in Washington before being traded to the Rangers last winter. Outfielder Robert Hassell III, then San Diego's No. 1 prospect, has not panned out as well yet.
Before his trade, Soto had more than two years to go before hitting free agency. He also turned down a 15-year, $440 million extension offer.
“We did feel that we were not going to be able to extend him,” then-Nationals general manager Mike Rizzo said after the trade. “And we felt that at this time, with two-and-a-half years remaining, three playoff runs available to Juan Soto, he would never be at more value than he is today, and that’s what we predicated it on."
Soto was traded again, from the Padres to the Yankees in another blockbuster on Dec. 7, 2023. Then as a free agent on Dec. 11, 2024, he signed a record deal with the Mets for 15 years and $765 million.
De La Cruz isn't quite at Soto's level when it comes to star status and production. But he was an All-Star in 2024 and '25 and a 30-30 player in 2026. And his five-tool talent is coveted by the industry.
Proceed with caution
Krall and the Reds are in an unenviable spot. Wait to trade De La Cruz and his value will only diminish as he gets closer to free agency. The Reds have frequently been burned for holding on to players too long and getting less-than-optimal returns.
But trading De La Cruz this offseason or this summer could risk alienating a Reds fanbase that's endured multiple rebuilds and missed contending windows. Cincinnati has not won a World Series since 1990, nor advanced in a postseason series since 1995. At least Washington had a 2019 World Series championship with Soto that created good will.
On the other hand, the Nationals haven't finished better than fourth place since trading Soto.
This year's World Series clubs -- the small-market Brewers and Rays -- have frequently traded star players to remain competitive. But unlike the Reds, they have also been regular playoff participants.
De La Cruz, who is arbitration-eligible for the first time this winter, batted .283 with an .880 OPS, 30 homers, 79 RBIs and 30 steals over 143 games in 2026.
“We’ve got three years of control left on him," Krall said of De La Cruz Tuesday at the GM Meetings in Las Vegas. "He’s a really good player on our club. As of right now, I think if there is something out there or somebody wants to come to us and talk about it … but he’s a great player and I love having him on our team.”