The Adobe Flash Player is required to view this multimedia interactive. Get it here.

Madson, Reds finalize $8.5M, 1-year deal

High school sports results for May 26
5/26/12
Reds' six-game winning streak broken
5/26/12
Annual Warrior Soccer Classic kicks off today
5/26/12
Dragons' rally falls short against Lansing
5/26/12
WSU baseball ousted from tournament
5/26/12
> More sports headlines

Associated Press 7:45 PM Saturday, January 21, 2012

CINCINNATI — Free-agent closer Ryan Madson and the Cincinnati Reds have finalized their $8.5 million, one-year contract.

The deal, agreed to Jan. 11 and announced Friday, calls for a $6 million salary this year, of which $2 million is deferred until Nov. 1 and $2 million until Nov. 1, 2013. The agreement includes a $11 million mutual option for 2013 with a $2.5 million buyout.

Madson saved 32 games in 34 chances last year for NL East champion Philadelphia. He replaces Francisco Cordero as the Reds' closer.

Madson nearly re-signed with the Phillies, but a $44 million, four-year deal collapsed in November and days later Philadelphia reached a $50 million, four-year contract with closer Jonathan Papelbon.

Share this article