"We've been talking to clubs, but I don't think there's anything that's close," Reds president of baseball operations Walt Jocketty told the Cincinnati Enquirer. "Hopefully we get something done with somebody before the Winter Meetings. We'd like to get moving on some things."
The Winter Meetings begin Dec. 7 in Nashville.
Chapman, who turns 28 on Feb. 28, has a 2.17 career ERA and 146 saves in 164 chances with 546 strikeouts in 319 innings during his six seasons for the Reds. After he earned $8.05 million in 2015, the left-hander is eligible for arbitration for a third and final time and can be a free agent after the '16 season.