7:42pm: Talks between the Reds and Phillips continue following the Joey Votto extension, reports ESPN's Jim Bowden (on Twitter).

1:19pm: The Reds are nearing a long-term deal with their star first baseman, but it doesn't look like their second baseman will obtain an extension of his own this offseason. Ken Rosenthal of FOX Sports reports that a deal between Brandon Phillips and the Reds is unlikely (Twitter link).

Rosenthal reported last week that the likely asking price for Phillips is a raise from his current $12MM salary on a four or five-year deal. Phillips posted a .300/.353/.457 line with 18 home runs and 38 doubles in 675 plate appearances last year. He won his third Gold Glove in 2011, and deserved it based on advanced assessments of his fielding. The 30-year-old is set to hit free agency after the 2012 season.