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.
Twitter / @jonmorosi: #Reds announce their deal ...
"#Reds announce their deal with Ryan Madson. It includes a mutual option for 2013."
Twitter / @Reds: #Reds, RHP Ryan Madson agr ...
"#Reds, RHP Ryan Madson agree to terms on 1-year contract through the 2012 season with a mutual option for 2013."
Closer Ryan Madson's contract with Reds awaiting physical | reds.com: News
"A formalized contract between the Reds and prospective new closer Ryan Madson might take several days to complete. Madson is on vacation and has yet to be scheduled for a physical."