This story was excerpted from Mark Sheldon¡¯s Reds Beat newsletter. To read the full newsletter, click here. And subscribe to get it regularly in your inbox.

CINCINNATI -- Once free agent Nick Martinez became the Reds' highest paid player on Nov. 19 by accepting the one-year, $21.05 million qualifying offer for 2025, it created questions about how much room is left for the club to spend on its other offseason needs.

That could become clearer on Sunday when the Reds' baseball-operations department gets to Dallas for MLB's annual Winter Meetings.

¡°We¡¯ve got a little bit of flexibility right now," Reds president of baseball operations Nick Krall said on Monday.

The exact payroll number for next season isn't publicly known, other than the Reds have stated it will be at or above the 2024 figure of roughly $100 million. Cincinnati already has about $56 million committed to players under contract in Martinez, Jeimer Candelario, Emilio Pag¨¢n, Hunter Greene, Santiago Espinal and Brent Suter. That doesn't count the club-controlled players and those eligible for salary arbitration.

It doesn't appear that the Martinez hit to the payroll has eliminated Cincinnati from pursuing more free agents. It also hasn't increased the likelihood of making trades to fill needs.

¡°We¡¯re looking at both markets. We haven¡¯t ruled anything out yet," Krall said.

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After the Reds acquired starting pitcher Brady Singer from the Royals for second baseman Jonathan India, rotation help was crossed off Cincinnati's list of priorities. Others remain, with improving the offense the most pressing.

Think outfielders.

¡°We¡¯re looking to add hitters to our club," Krall said. "Most likely it¡¯s going to be an outfielder over an infielder, but I wouldn¡¯t rule anything out just yet."

Krall declined to get into specific players.

¡°It¡¯s the best position player you can get -- being able to play defense and offense," he said.

Here is a look at some available free agents who could be potential fits for the Reds:

OF Michael Conforto
After signing a two-year, $36 million contract with the Giants before the 2023 season, Conforto was kind of underwhelming. But he was better in 2024 -- two seasons removed from shoulder surgery that cost him the whole '22 season.

Although he batted .237, Conforto had a .759 OPS, 20 home runs and 66 RBIs, and the lefty hitter had decent numbers vs. lefty pitchers (.284/.349/.537).

He could be better served at a hitter-friendly venue like Great American Ball Park, but the 31-year-old Conforto is a below-average defender at this point of his career.

OF Max Kepler
A league-average hitter, Kepler has some serious line-drive pop that helped him hit 24 homers for the Twins in 2023 and a career-high 36 homers in ¡¯19.

However, his OPS plummeted from .816 in 2023 to .682 in '24. There are durability issues as well, after he was limited to 105 games last season as he dealt with knee and hip issues.

Kepler is a superb defender capable of playing center field. But Minnesota kept him in right field despite his prowess and the continued injuries to center fielder Byron Buxton.

OF Jurickson Profar
Probably a good bet to remain with the Padres, Profar could be a fit for a young team like the Reds that could use a fiery and dynamic veteran.

The 31-year-old re-signed with San Diego during Spring Training on a one-year, $1 million contract and delivered career-best numbers with 24 homers, 85 RBIs and an .839 OPS in 158 games.

OF Teoscar Hernández
This could fall under the long-shot category for Cincinnati. Hern¨¢ndez was an All-Star for the Dodgers in 2024 while hitting a career-high 33 homers. He also had 99 RBIs, an .840 OPS and was worth 4.3 bWAR in the regular season before taking on a starring role in the postseason towards a World Series championship.

Defensively however, Hern¨¢ndez is a liability. The 32-year-old made $23.5 million last year in his one-year contract with Los Angeles and despite turning down the qualifying offer, he could return there if the Dodgers don't land Juan Soto.

1B Paul Goldschmidt
Although 37 and nearing the end of his playing career, Goldschmidt makes sense as a short-term need-filler after the Cardinals decided not to bring him back.

A seven-time All-Star and the 2022 National League MVP, Goldschmidt batted .245 with a .716 OPS and 22 homers in 154 games last season. He's played at least 151 games in each of the past nine full seasons.

On the downside, Goldschmidt was poor for St. Louis with runners in scoring position, batting just .203 with a .564 OPS and two homers in 2024. But he historically rakes at Great American Ball Park. In 63 career games at Cincinnati, he has a .999 OPS and 20 homers while batting .293.