Jonathan Broxton and the Reds have an agreement on a multiyear deal, sources said.
The deal is believed to be for at least three years. An announcement is expected Wednesday.
Ken Rosenthal of FOX Sports breaks down the financial specifics of the deal:
Broxton deal with #Reds is three years, $21M. Also a club option for 2016. Salaries of $4M-$7M-$9M, with $1M buyout on $9M option.— Ken Rosenthal (@Ken_Rosenthal) November 28, 2012
Broxton, 28, will replace young left-hander Aroldis Chapman as the team’s closer so that Chapman can attempt a transition into the starting rotation.
Following two tough seasons with the Dodgers, Broxton regained his form this past season with the Royals, posting a 2.27 ERA in 35 appearances while filling in for injured closer Joakim Soria. Broxton then headed to Cincinnati at the trade deadline and continued to pitch well, putting up a 2.82 earned-run average in 25 appearances.
The big right-hander no longer has the elite strikeout rate that made him nearly unhittable in his first five seasons, but he has lowered his walk rate to compensate for the loss of swings and misses, so he should still be an effective closer.