The outfielder is seeking a multi-year deal following a comeback season.
Ryan Ludwick and the Reds continue to try to work out a contract.
"We’ve been in contact," his agent Dan Horwits said. "There’s interest on both sides. Hopefully, we can get something done. We’re talking to other clubs. He has offers from other clubs."
The 34-year-old Ludwick had a $5 million mutual option for the 2013 season, but turned down the guaranteed money to seek a bigger multi-year deal on the free-agent market. Fay posits that the number of years Ludwick requests will be the key component in his talks with the Reds, and that three guaranteed years would likely be too much for the club.
Following two sub-par seasons with the Padres in cavernous Petco Park, the right-handed slugger had a bounce-back year with the Reds in 2012, hitting .275/.346/.531 with 26 home runs in 125 games.