— Ken Rosenthal (@Ken_Rosenthal) December 31, 2014
Byrd, 37, is set to make $8 million for 2015 and $8 million in 2016, which is a vesting option. Byrd had a 109 wRC+, 1.9 fWAR in 2014 with 25 home runs and played 154 games. In 2013, Byrd had a career year posting a 137 wRC+, 4.1 fWAR, and 24 home runs in 147 games. Byrd will likely play left field with Billy Hamilton and Jay Bruce filling the other outfield spots.
Ben Lively, 22, will be headed to Philadelphia and was ranked the 8th best prospect in the Reds organization in 2014. He has pitched 192 innings in two seasons posting a 2.58 ERA. He pitched at Double-A and High-A in 2014.