"Although the Reds and closer Ryan Madson have reached an agreement on a one-year deal with $8.5 million guaranteed, a baseball source said it could be some time before the move is officially announced.

Madson, a 31-year-old right-hander who was the Phillies' closer last season, must pass a physical, and details of the contract, which includes incentives and a mutual option year, have to be worked out. The option is not vesting – either side can opt out. But structuring it this way, the Reds can spread out money over two years.

Completing a deal at this stage is often a formality."