Price, 54, has agreed to a 1-year contract through next season with a team option for 2018. In October 2013, after 4 years on manager Dusty Baker's staff as pitching coach, he signed a 3-year contract through this season to become the 61st field manager in club history and the 51st since 1900.
"I like the young, aggressive team Walt and Dick have put together with players from within our system and from recent trades," Reds President and Chief Executive Officer Bob Castellini said, referring to President of Baseball Operations Walt Jocketty and Senior Vice President, General Manager Dick Williams. "Bryan has been here seven seasons now. He's comfortable with the direction we are heading with our young players, and we are comfortable with him leading us in that direction."
"Three years ago we felt Bryan was the right person to help us move the organization forward, and our opinion of him hasn't changed. While we haven't produced the record we would have liked, we look at the youth of our team, particularly our pitching staff, and the unusually large number of injuries we've suffered over the last few years," Jocketty said. "We are very happy with the performances of some of the young players we've acquired over the last couple of seasons. We've been particularly pleased with the production provided by Anthony DeSclafani, Brandon Finnegan, Adam Duvall, Eugenio Suarez, Jose Peraza and Scott Schebler."
"I'm thrilled to have the opportunity to come back and see this through, this vision of getting back to the much higher expections that we've had here historically with this great franchise," Price said. "We can see the light at the end of the tunnel here, with the combination of young players and veterans and knowing we're starting to stockpile talent from within the system. I'm happy to be here to see this turnaround."
He added, "I'm proud to continue working with this group of players and coaches. I have admired their efforts, hard work and grit through this challenging season, efforts represented by the improvements we made in the second half."
The Reds went 32-57 (.360) prior to the All-Star Game but since then are 35-35 (.500), an increase in winning percentage of .140 that ranks second-highest of any team in the Major Leagues in that span (Atlanta, +.159).