The Cincinnati Reds have agreed to sign closer Ryan Madson pending a physical examination, a major league source confirmed to FOXSports.com.
Madson likely will be the Reds closer, after saving 32 games with a 2.37 ERA for the Phillies last year. Philadelphia replaced Madson early in the free-agent period by signing Jonathan Papelbon to a four-year, 50 million contract.
Madson effectively replaces Francisco Cordero, who averaged more than 37 saves per season over the past four years in Cincinnati. Cordero remains unsigned and is now the top closer available on the open market, although the pool of interested teams is limited.
The Reds bullpen was slightly below average in the National League last year, but the additions of Madson and Sean Marshall (from the Cubs via trade) should help them compete with the favored Cardinals in the NL Central.