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Report: Ryan Madson Signs with Reds

Jan 10, 2012, 11:52 PM EDT

Turns out, Madson wasn't opposed to a one-year deal but he wanted to close so he will be joining the Cincinnati Reds, according to ESPN's Jerry Crasnick.

After a deal with the Phillies fell through way back before the Winter Meetings, the market for Ryan Madson and closers appeared to dry up a bit. Many wondered if Mad Dog and his super agent, Scott Boras, would settle on a one-year deal to rejoin the Phillies as a setup man for their new closer Jonathan Papelbon in hopes of pursuing a more lucrative longterm deal next offseason.

Turns out, Madson wasn’t opposed to a one-year deal but he wanted to close so he will be joining the Cincinnati Reds, according to ESPN’s Jerry Crasnick.

The exact terms of the one-year deal are not available yet, but it will be awfully interesting to see what kind of cash he got on such a short deal — as well as how many years and how much cash he gets next offseason (Update: USAToday’s Bob Nightengale is tweeting that the deal is worth in excess of $10 million dollars).

We had originally posted that the Phillies would receive the 14th overall draft pick from the Reds for Madson, but that info seems to be wrong. Instead, they’ll get a sandwich pick.

Update2: Crasnick says it’s actually for $8.5 million