Report: Reds reach agreement with closer Madson

Ryan Madson may finally have a new home. reported late on Tuesday that the Cincinnati Reds have agreed to terms on a one-year, $10 million contract with the righty closer.

The move ends speculation on where the former Phillie, who last year notched 32 saves to go with a 4-2 record and a 2.37 earned run average in his first full season handling ninth-inning duties, would end up after much of the closer market had dried up.

Madson seemingly had a deal done with the Phillies early in the free-agency period, but talks broke off between the parties and the Phillies signed Jonathan Papelbon to a four-year, $50 million deal.

Madson then was rumored to sign with the Red Sox to fill the newly-created void in the back end of their bullpen, but the Red Sox never made an offer, leaving Madson's future in limbo.

Enter the Reds, who could not come to an agreement with free agent Francisco Cordero after the team chose not to exercise a 12 million option.

Madson, 31, has spent his entire career with the Phillies, setting up Brad Lidge prior to last season. He has notched 52 career saves and blown 26.