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

Jan 11, 2012, 8:20 AM EDT

madson getty Getty Images

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. proudlycanadian - Jan 10, 2012 at 6:40 PM

    This headline makes so much sense, that it is probably accurate.

    • proudlycanadian - Jan 11, 2012 at 6:43 AM

      As I said, the story made so much sense that it was indeed accurate.

  2. somekat - Jan 10, 2012 at 6:43 PM

    Reds are just using him as leverage to get Cordero to sign the deal they want. He screwed himself not jumping all over that deal in Philly

    • brucewaynewins - Jan 11, 2012 at 9:57 AM

      Apparently not so.

      • kellyb9 - Jan 11, 2012 at 12:29 PM

        I’d love to know in what strange universe of sports that it’s better to take a 1 year 8.5 million dollar deal as opposed to a reported 4 year 44 million dollar deal. Basically, if he completely stinks this year, his next deal is going to be nowhere near what the Phillies were probably offering him. I’m not saying the Phillies didn’t overpay a bit for Papelbon, but I still think Madson comes out on the raw end of this all around.

      • WhenMattStairsIsKing - Jan 11, 2012 at 1:37 PM

        Good call, Kelly. Madson is going to want to prove himself bigtime. The Reds are going to have a fine performance out of him.

  3. sknut - Jan 10, 2012 at 6:44 PM

    What are the odds he takes a one year deal and tries again next offseason? I would think he could fetch a good one year salary if he is unhappy with the current multi year offers out there.

    • D.J. Short - Jan 10, 2012 at 7:09 PM

      Definitely possible. Obviously no comparison between Cordero and Madson at this point.

    • D.J. Short - Jan 11, 2012 at 12:28 AM

      Good call, by the way.

      • sknut - Jan 11, 2012 at 9:12 AM

        Thanks-It just seemed by this point his best offers were behind him and the Reds don’t seem like they would go crazy with a multi year deal with a reliever. I think its a solid signing for one year though.

  4. anonyfan - Jan 10, 2012 at 6:57 PM

    “serious talks”? whatever happened to “engaged in advanced negotiation stages” or “exchanging contract terms”?

  5. Jonny 5 - Jan 10, 2012 at 7:32 PM

    25 total blown saves in 2011, with the acquisitions this off season says Madson signs with the Angels. I’d say it’s a safe bet actually. I don’t care what they say about “very very unlikely”. It’s all bull.

    • SmackSaw - Jan 10, 2012 at 7:48 PM

      Yeah, I gotta agree that the Angels is his destination.

  6. blitzdorsey - Jan 10, 2012 at 7:39 PM

    Madson to the Reds makes sense. The Reds need a closer (they don’t really want Cordero back or they wouldn’t be low-balling him) and Madson is definitely the best one on the market. The Reds seem to be going “all in” this year with the trades for Mat Latos and Sean Marshall. Question is how much Madson wants. No way the Reds will give him $11M per season (unless it’s a one-year deal).

  7. metalhead65 - Jan 10, 2012 at 7:51 PM

    what is this? no-ex cardnial closers available?this makes to much sense for it to happen. besides the “small market” reds can’t afford to pay what a top closer like him would want.

    • 78mu - Jan 10, 2012 at 8:53 PM

      Walt could afford Ryan Franklin or Izzy I guess but I doubt Reds fans would line up for season tickets at that news. Maybe Worrell isn’t too busy. Or he can go for a couple of hall of famers if Eck can still get his slider over or Bruce hasn’t forgotten how to throw his split-finger.

      I actually think the Reds could have a decent bullpen with what they have. Maybe they don’t have the marquee names of Madson or Cordero but they will probably give the team a better return on investment.

  8. paperlions - Jan 10, 2012 at 9:19 PM

    Heyman reporting that a Boras client is in serious talks with a team that says, “eh, not so much”….shocking.

  9. firemarshal1 - Jan 10, 2012 at 10:03 PM

    Walt, sign Madson for 5 yrs – 45 million (7, 8, 9, 10, and 11). Madson gets his financial security with a contending team. After that sign Joey Votto, for an additional three years. Sign Brandon Phillips for a three year extension. The fan base will be there in the stands. Scott Rolen salary will be off the books at the end of the year. Reds will be the team to beat in the Central.

    • paperlions - Jan 10, 2012 at 10:23 PM

      Votto is not signing a 3 year deal…he is going to FA and the big bucks…if Cinci throws $200M at him, he would probably stay….but unless he is blown away, he’s testing FA.

      • 1943mrmojorisin1971 - Jan 11, 2012 at 1:51 AM

        Ortiz retires, Youk gets traded, Votto signs a Pujols-esque deal with the Sox. A guy can dream, right?

      • 1943mrmojorisin1971 - Jan 11, 2012 at 1:52 AM

        He can come home to the Jays if he wants, too. Yes, cheering for 2 teams in the same division is extremely illogical, but I get by doing so.

  10. firemarshal1 - Jan 10, 2012 at 10:44 PM

    Ask Prince Fielder how’s doing in FA. No takers…….. If I was Joey Votto, I would take the financial security, then risk being another Prince Fielder or injury. The city of Cincinnati loves him and it’s fans, and the city matches his low key personality. A perect match.

    • bowens3181 - Jan 11, 2012 at 12:32 AM

      There is a huge difference between Fielder and Votto. While he won’t get Pujols money, Votto is the type of player that teams will be comfortable locking up long-term.

      • paperlions - Jan 11, 2012 at 7:35 AM

        Besides the fact that Votto adds some defensive and base running value, he has been a better and more consistent hitter than Fielder…and doesn’t have the body type that makes teams terrified of doing a long-term deal.

  11. albie23 - Jan 10, 2012 at 11:14 PM

    Angels have to wake up & snatch Madsen real quick! They are in need of a reliable closer. If they had one last season and not blown ALL those saves, they would have earned the AL Wild Card spot. They got Pujols and have added CJ to that already impressive rotation so why not get Madsen!? That’s like having a Bentley in your driveway but not having the damn keys!!!

  12. knicks4life - Jan 10, 2012 at 11:27 PM

    Reds r world series losers

    • 1943mrmojorisin1971 - Jan 11, 2012 at 1:53 AM

      Then what does that make the Knicks?

  13. jason1214 - Jan 10, 2012 at 11:44 PM

    Votto is a MUCH better player than Portly Prince, he’ll have zero problem fetching a deal in FA, that Prince can’t get. How’s that snazzy portfolio working out Bor-azz.

  14. Utley's Hair - Jan 11, 2012 at 12:12 AM

    Boras really screwed the MadDog here. And to think, just a few weeks ago, there was no effing way Madson was going to take a one-year deal. Scotty, I hope Mrs. MadDog doesn’t rip into you too bad, but ya really screwed Ryan in this case.

    • aclassyguyfromaclassytown - Jan 11, 2012 at 6:36 PM

      I logged on to write what you already had. You almost hope that he gets injured so that other players might see the risks in going along with those negotiating tactics. He gets injured, his stock drops. Then all he’ll be thinking is “I really should’ve taken a longer term deal from the Phillies”.

  15. The Common Man - Jan 11, 2012 at 12:14 AM

    Sounds like John Fay and Mark Sheldon need to find a new source.

    • crisisjunky - Jan 11, 2012 at 1:18 AM

      They don’t share a toothbrush with Boras like Heyman does.

  16. bleedgreen - Jan 11, 2012 at 12:20 AM

    Well, they overplayed their hand with the Phillies, and no one else was wililng to give him what the Phillies offered, apparently. Them’s the breaks.

  17. JBerardi - Jan 11, 2012 at 12:26 AM

    Well, Jonathan Papelbon is clearly worth five times more valuable than Madson. Well played, Phillies.

    • 1943mrmojorisin1971 - Jan 11, 2012 at 1:57 AM

      I love Pap, but any team willing to sign him to such a ridiculous multi-year deal can have him. Apparently he is worth five times more evaluable to the Phillles than the Sox. I can live with that.

  18. crisisjunky - Jan 11, 2012 at 1:15 AM

    Madson has been white knuckles in the past, but ball park factor here for both deals.
    Each guy will have his implosions.
    But Madson will be fighting in a police action in Great America for a year while
    Papelbon will be at war with CBP, (not to mention with the city where the boo was alledgedly invented)…… for much longer.

    • bleedgreen - Jan 11, 2012 at 8:22 AM

      Its a myth that CBP is a hitter’s park.

      ESPN ranks it 11th
      http://espn.go.com/mlb/stats/parkfactor

      There was another comparison that I can’t seem to find again that listed it around 9th or so I believe.

      • paperlions - Jan 11, 2012 at 11:51 AM

        That isn’t a myth, it is a hitters park….it doesn’t have to compare to the Colorado-Arizona-Milwaukee types of parks to still be a hitters park.

      • WhenMattStairsIsKing - Jan 11, 2012 at 1:46 PM

        ESPN is to advanced intellectual journalism what Bud Selig is to youth.

  19. 1943mrmojorisin1971 - Jan 11, 2012 at 1:49 AM

    Insanity, at least from the Reds perspective. Madson is just smiling and laughing. $10 million and he gets to try for more next season. #winning……even if the Reds don’t.

    • dan1111 - Jan 11, 2012 at 9:41 AM

      Wait, what is the insanity? This is a great deal for the Reds. They get a top closer for a low price, and all of the long term risk is borne by the player, not the team. Madson might get a big paycheck next off-season if 2012 goes well, but if he gets injured or pitches poorly this season, he has just lost out big time.

      • 1943mrmojorisin1971 - Jan 11, 2012 at 2:49 PM

        I said that when the deal was reported at over $10 million. Madson has no leverage, the Reds would have been crazy to pay him that much. $8.5 million plus incentives is much more reasonable.

  20. kfiz14 - Jan 11, 2012 at 5:43 AM

    No one cares about the Red Sox. You guys can discuss him over some chowder.

  21. metalhead65 - Jan 11, 2012 at 6:19 AM

    as reds fan I am stunned! happy but stinned. just waiting for the next big annoucement and the one walt can’t wait to share but we all know is coming and that is the signing of ex cardinals ludwig or ankiel or maybe he gets a discount for 2 washed up ex cards at once.

  22. firemarshal1 - Jan 11, 2012 at 7:37 AM

    Meathead65, it’s a great move by Walt. I know you don’t like it, but it would be a smart move to sign Ludwick. Ryan Ludwick provides depth in the outfield along with a big bat. Ludwick loves hitting in GAB.

  23. paperlions - Jan 11, 2012 at 7:39 AM

    Do the Reds really have that much money to spend and nothing to spend it on? Spending > 10% of your payroll for 65 innings pitched isn’t the most efficient use of resources.

    • WhenMattStairsIsKing - Jan 11, 2012 at 1:43 PM

      I don’t get all the dislikes. Paying more than a few million for a reliever has volatile results. I would have spent that on bolstering the rotation and extending Phillips.

  24. Francisco (FC) - Jan 11, 2012 at 8:52 AM

    8.5MM ain’t too shabby. Good for you Mad Dog.

  25. xmatt0926x - Jan 11, 2012 at 9:02 AM

    Hey Cincy fans, just please don’t dare show him any attention if you see him on the street!!! Don’t ask for his autograph, etc!!! Basically, don’t be the fans that make a professional sports player the multi-millionaire that he is because his wife just doesn’t think thats cool. She just can’t stand fans coming up to Ryan and patting him on the back or saying good job or daring to ask for his autuograph. It annoys the little gal. JUST DON”T DO IT!!!!!

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