Jonathan Broxton and the Reds have an agreement on a multiyear deal, CBSSports.com's Jon Heyman reported, citing sources.

From Heyman:

The deal is believed to be for at least three years. An announcement is expected Wednesday.

Broxton is expected to be the Reds closer, enabling them to move the 100-mph-throwing Aroldis Chapman to the rotation.

Our John Erardi wrote Tuesday night that the Reds have already made their greatest acquisition of the offseason – not by re-signing Broxton but by moving Chapman to the starting rotation.

And our John Fay reported Monday night that any multiyear contract would require a physical.