Madson deal finalized
The deal between the Reds and closer Ryan Madson is now official. It’s a one-year contract with a mutual option for 2013. The club did not reveal the terms.
But as previously reported last week, Madson is guaranteed $8.5 million by earning $6 million in 2012 and a $2.5 million buyout on an $11 million mutual option for 2013. Some of the money in the deal will be deferred.
I expect some sort of conference call today or tonight. Will have more later on Reds.com/MLB.com and this blog.
UPDATE — Here is the final story with quotes from Madson and GM Walt Jocketty