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UPDATE: Reds ink Ryan Madson to one-year, $8.5 million deal

Jan 11, 2012, 8:20 AM EDT

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UPDATE: Jerry Crasnick of ESPN.com reports that the deal is worth $8.5 million guaranteed while Bob Nightengale of USA Today adds that it includes some performance-based incentives.

The Phillies will receive two draft picks as compensation for Madson, though the new CBA stipulates that the Reds will not surrender their first-round pick.  Instead, the Phils are expected to pick prior to the Reds (14th overall) in the first-roundUPDATE: Silly new CBA rules. It appears the Phillies will get a supplemental first-round pick and a second-round pick.

11:50 PM, Tuesday: Bob Nightengale of USA Today reports that the deal is worth in excess of $10 million.

11:31 PM, Tuesday: Heyman adds that it’s a one-year deal. Still need to see the dollar amount, but you have to love this if you’re the Reds. And while Madson didn’t get the deal we all thought he would get back in November, he could get his money next offseason if he proves healthy and effective in 2012.

10:55 PM, Tuesday: Ryan Madson has finally found a home. Jon Heyman of CBSSports.com reports that the 31-year-old right-hander has agreed to terms with the Reds. No word on the specifics yet.

Madson saved 32 games in 34 chances with the Phillies in 2011 and owns a 2.89 ERA over the past five seasons. He’s an improvement over the declining Francisco Cordero in the closer role and just the latest sign that the Reds are going for it in the National League Central.

7:50 PM, Tuesday: According to John Fay of the Cincinnati Enquirer and Mark Sheldon of MLB.com, a Reds’ source has downplayed the club’s interest in Madson.

6:35 PM, Tuesday: The Reds remain in contact with Francisco Cordero about serving as their closer this season, but Jon Heyman of CBSSports.com reports that the club is also in “serious” talks with Ryan Madson.

Many consider Madson one of the biggest losers of the offseason since his reported four-year, $44 million deal with the Phillies fell through in the early part of November. Potential suitors have gone in other directions, leaving one of the best relievers in baseball out of a job. The Reds recently acquired right-hander Mat Latos from the Padres, so there’s no question they’re going for it in the National League Central, although Cordero would likely come at a significantly lower price.

Reds general manager Walt Jocketty told John Fay of the Cincinnati Enquirer this afternoon that he hopes to have the Cordero situation resolved “one way or another” this week, so one wonders if he is talking to Madson in order to force his hand.

  1. cintiphil - Jan 11, 2012 at 9:27 AM

    It is obvious that the Reds are ALL IN for 2012. They have to make a big splash this year, or lose Brandon and maybe Votto next year. Those guys want to be on a winning team. I am not sure that they can afford to sign everyone they want next year, but this is a great move by Walt to get a chance to beat the Cards. If the can win in 2012, or at least get into the series, who knows where they can go from there. Good job Walt.

    • WhenMattStairsIsKing - Jan 11, 2012 at 1:40 PM

      They’re going to need another solid SP. Their bullpen is stocked now, though.

  2. cintiphil - Jan 11, 2012 at 2:19 PM

    Yes, they could use a starting guy, but remember last year, the birds seemed to be in serious trouble without Wainwright, and during the year, were able to improve the staff and look where it got them. A new Reds starter could come from the minors, or a trade during the year. Still the guys they ave now are solid, not counting Arroyo. Cueto-Latos-Bailey-Leake-Chapman (possibly) and Bronson. They look solid to me. I would like to have one more although.

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