Report: Reds have not offered extension to Johnny Cueto

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Johnny Cueto's tenure with the Cincinnati Reds appears to be nearing its conclusion.

The 28-year-old's name continues to surface in trade rumors and the club has yet to make him a formal extension offer, according to Jon Morosi of FOX Sports.

Though team officials reportedly had dialogue with Cueto's agent Tuesday at the winter meetings, no offer has been made yet. General manager Walt Jocketty previously expressed interest in retaining Cueto, but the Reds may not be able to afford him after Jon Lester cemented a robust market for premium starters by signing a six-year, $155-million contract with the Chicago Cubs on Tuesday.

Cueto, who's set to earn $10 million in 2015, finished second in National League Cy Young award voting last season after crafting a career-best 2.25 ERA with a 0.96 WHIP over 34 starts.