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Reds Announce Ryan Madson Signing

About a week ago, it was reported that the Reds had agreed to sign right-hander Ryan Madson to a one-year deal. Now the move is official, as the Cincinnati Reds have announced it. The contract, which includes a mutual option for 2013, gets Madson a guaranteed $8.5M; the breakdown: he'll earn $6M in 2012, and the mutual option is worth $11M. If the Reds decide not to exercise his option in 2013, they'll pay a $2.5M buyout.