From MLB.com:

The Reds now have 48 players in Major League camp.

Prior to Thursday’s game against the Indians, the Reds optioned infielder Yonder Alonso and left-handed pitcher Bill Bray to Triple-A Louisville and optioned right-handed pitcher Jordan Smith and left-handed pitcher Philippe Valiquette to Double-A Carolina.

The club also assigned right-handed pitcher Jon Adkins and outfielder Josh [...]

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