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The length of Justin Masterson's stay in Cleveland will be greatly influenced if the Reds sign Homer Bailey to a multiyear deal.

(Chuck Crow/The Plain Dealer)

GOODYEAR, Ariz. – Justin Masterson and Homer Bailey are scheduled for arbitration hearings Thursday, but Masterson could be a solo act in St. Petersburg, Fla.

Bailey and the Reds are reportedly negotiating a six-year deal that could be worth $100 million. If that’s the case, Bailey will set the market for Masterson and his negotiations with the Indians on a multiyear deal.

If Masterson and the Indians can’t use Bailey’s reported deal to reach a multiyear deal, it could mean that this will be Masterson’s last year in Cleveland. He’s eligible for free agency at the end of the season.

Masterson, 28, and Bailey, 27, are comparable players in terms of service time and performance. Bailey, like Masterson, is eligible for free agency at the end of this season.

In arbitration, Masterson filed for $11.8 million, while the Indians countered at $8.05 million. Bailey filed for $11.6 million, while the Reds countered at $8.7 million.

Here’s how The Plain Dealer’s Dennis Manoloff compared the two pitchers in a story in January.

Bailey is coming off a 32-start, 209-inning season in which he went 11-12 with a 3.49 ERA and 1.12 WHIP (walks plus hits per inning). He has a career record of 49-45 with a 4.25 ERA and 1.32 WHIP in 143 games (all starts). He has pitched exclusively for the Reds, who play in a league where pitchers hit.

Masterson is coming off a season of 32 appearances (29 starts) and 193 innings. He went 14-10 with a 3.45 ERA and 1.20 WHIP. Masterson owns a career record of 53-63 with a 4.03 ERA and 1.36 WHIP in 212 games (150 starts). He has pitched for the Boston Red Sox and Indians, who play in a league where offense is enhanced by the designated hitter.

Bailey is 49-45 with a 4.25 ERA in a career in which he’s made 143 starts and pitched 853 innings.

Masterson is 53-63 in 212 games, including 150 starts. He has a 4.03 ERA and has pitched 1,013 innings.

In regards to the Indians and Masterson avoiding arbitration on a one-year deal, there has been movement on both sides. The midpoint is $9.925 million.

So far this month, the Indians are 2-0 in arbitration hearings. They have been awarded decisions over right-handers Vinnie Pestano and Josh Tomlin.

After some initial talks on a multiyear deal following their arbitration filings, the Indians and Masterson decided to concentrate on reaching a one-year deal before re-assessing the possibility of a multiyear deal.