CINCINNATI- he Cincinnati Reds have agreed to sign closer Ryan Madson pending a physical examination, FOX Sports reported, citing a major league source.

Madson will likely be the Reds' closer, after saving 32 games with a 2.37 ERA for the Phillies last year. Philadelphia replaced Madson early in the free-agent period by signing Jonathan Papelbon to a four-year, $50 million contract.

While reports varied, it is believed Madson will sign a one-year deal with the Reds worth around $10 million.

Madson effectively replaces Francisco Cordero, who averaged more than 37 saves per season over the past four years in Cincinnati.

Cordero remains unsigned and is now the top closer available on the open market, although the pool of interested teams is limited.

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