CINCINNATI -- The last time the Winter Meetings were held in person was 2019, and the Reds were in the middle of the action. They were in hot pursuit of free agents and were one of that offseason’s more active clubs as it was trying to contend in 2020.

Much has changed in three years as the Winter Meetings are set to return next week. Cincinnati is currently in rebuilding mode and more likely to make smaller moves to plug holes on the roster.

Here is everything you will need to know heading into the Winter Meetings, which get underway on Sunday and run through Wednesday in San Diego.

Key events
• Sunday, Dec. 4: HOF Contemporary Era ballot results released (Albert Belle, Barry Bonds, Roger Clemens, Don Mattingly, Fred McGriff, Dale Murphy, Rafael Palmeiro, Curt Schilling)

• Monday, Dec. 5: All-MLB Team announced

• Tuesday, Dec. 6: Inaugural Draft Lottery, AL/NL Relievers of Year announced

• Wednesday, Dec. 7: Rule 5 Draft

Club needs
There are a lot of areas that need attention but general manager Nick Krall didn't identify one particular spot.

“I think we're active on the free-agent market just trying to figure out what the deals are and how we can continue to get better across the board,” Krall said on Tuesday.

However, the most open area of the roster appears to be the outfield. The Reds could also use a veteran arm for the rotation that can provide innings and some bullpen help. They solved their backup catcher situation by signing Luke Maile to a one-year, $1.175 million contract on Monday but didn’t rule out a three-catcher system.

Krall didn’t believe Cincinnati’s approach to the Winter Meetings would be different from any other year.

“We’ve touched base with free agents, touched base with every club,” Krall said. “We’re trying to figure out who is going to be in that range to help us that we can bring onto the club through trade or free agency that makes us better. I don’t know that we feel pressure to make a deal just because we’re in San Diego. … It’s a way to be face-to-face with teams and agents.”

Potential trade candidates
After being given orders to cut payroll by ownership last offseason, Krall has traded most of the team’s veteran players and higher salary earners during the 2022 season. He is unlikely to move younger, controllable players but has traditionally listened to any trade proposal.

One player who could be moved is veteran third baseman Mike Moustakas, but it won’t be easy. Heading into the final season of his four-year contract, the 34-year-old Moustakas is owed $22 million for 2023 and the option buyout for '24, and he has underperformed during his time in Cincinnati.

Prospects to know
By trading veterans like Luis Castillo, Jesse Winker and Sonny Gray over the past year, the Reds have overhauled and upgraded the Minor League development system dramatically. 

Shortstop Elly De La Cruz is ranked by MLB Pipeline as the organization’s No. 1 prospect and No. 14 in MLB. Another shortstop, Noelvi Marte, is ranked No. 2 and No. 17 overall after he came from the Mariners in the Castillo trade. There will be no attempts to move either player, and it’s unlikely that Krall would expend prospect capital to acquire veteran players.

Rule 5 Draft
Cincinnati has the fourth pick and could use its rebuilding situation as a reason to pluck an unprotected player from another club.

It’s possible that the Reds could lose some players it didn’t put on the 40-man roster. Second baseman Ivan Johnson is their No. 28-ranked prospect and an offensive-minded switch hitter who has battled injuries and played only 129 games over the past two seasons.

Payroll summary
Krall has stated he has been given a little payroll flexibility this winter to make the club’s needed moves, but the Reds will be open next season with a much lower figure than the $114 million budget they had on 2022 Opening Day.

“Now it’s, 'How can we continue to improve this club with the money we’ve got left to spend?,'” Krall said.

Once the contracts of Joey Votto and Moustakas expire after the 2023 season, the club will have no players under multi-year contracts going into 2024.

Burning question
Can the Reds add a difference-maker to their lineup with little money to spend? With Great American Ball Park a haven for offense, an overlooked hitter could revive his career in Cincinnati under a one-year contract and either become a Trade Deadline chip for the club or re-enter the free agent market next year.