Phillips is sort of happy about this, as he expressed in a news conference:
"I cried about this. This is where I wanted to be," Phillips said. "I'm still ... you know ... loss of words right now, for me to play in the city I really love. The fans have embraced me and they love me and I love them back."
The word that comes to mind with the Reds is "small-market", but they're not spending like it, with $82.2 million on the payroll, 17th in the majors. Between last week's contract for Joey Votto -- 10 years, $225 million -- and a variety of other rich signings over the past few seasons, the Reds are primed to contend for while.
"I think this puts us in a pretty good position to build around two premier players on the everyday side, and with some of the pitchers we have to be a contending club for years to come, hopefully," general manager Walt Jocketty said. "It's not easy. A lot of things have to go right for you."
Slightly disconcerting is the length of the deal -- Phillips will be 36 when it ends, and earning $14 million for his services. That said, Reds fans will probably be pleased to keep a popular player who hit a career-high .300 last season.
For more on Philips' deal and the Reds, check out SB Nation's Red Reporter.