UPDATE: Reds ink Ryan Madson to one-year, $8.5 million deal

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UPDATE: Jerry Crasnick of ESPN.com reports that the deal is worth $8.5 million guaranteed while Bob Nightengale of USA Today adds that it includes some performance-based incentives.

The Phillies will receive two draft picks as compensation for Madson, though the new CBA stipulates that the Reds will not surrender their first-round pick.  Instead, the Phils are expected to pick prior to the Reds (14th overall) in the first-roundUPDATE: Silly new CBA rules. It appears the Phillies will get a supplemental first-round pick and a second-round pick.

11:50 PM, Tuesday: Bob Nightengale of USA Today reports that the deal is worth in excess of $10 million.

11:31 PM, Tuesday: Heyman adds that it’s a one-year deal. Still need to see the dollar amount, but you have to love this if you’re the Reds. And while Madson didn’t get the deal we all thought he would get back in November, he could get his money next offseason if he proves healthy and effective in 2012.

10:55 PM, Tuesday: Ryan Madson has finally found a home. Jon Heyman of CBSSports.com reports that the 31-year-old right-hander has agreed to terms with the Reds. No word on the specifics yet.

Madson saved 32 games in 34 chances with the Phillies in 2011 and owns a 2.89 ERA over the past five seasons. He’s an improvement over the declining Francisco Cordero in the closer role and just the latest sign that the Reds are going for it in the National League Central.

7:50 PM, Tuesday: According to John Fay of the Cincinnati Enquirer and Mark Sheldon of MLB.com, a Reds’ source has downplayed the club’s interest in Madson.

6:35 PM, Tuesday: The Reds remain in contact with Francisco Cordero about serving as their closer this season, but Jon Heyman of CBSSports.com reports that the club is also in “serious” talks with Ryan Madson.

Many consider Madson one of the biggest losers of the offseason since his reported four-year, $44 million deal with the Phillies fell through in the early part of November. Potential suitors have gone in other directions, leaving one of the best relievers in baseball out of a job. The Reds recently acquired right-hander Mat Latos from the Padres, so there’s no question they’re going for it in the National League Central, although Cordero would likely come at a significantly lower price.

Reds general manager Walt Jocketty told John Fay of the Cincinnati Enquirer this afternoon that he hopes to have the Cordero situation resolved “one way or another” this week, so one wonders if he is talking to Madson in order to force his hand.

Nolan Reimold retires

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Former Orioles outfielder Nolan Reimold has retired, Michael Pfaff — president of the Long Island Ducks — announced on Twitter on Sunday.

Reimold, 33, was hitting .238/.359/.397 in 78 plate appearances with the Ducks. He was coming off of a disappointing 2016 campaign as a reserve outfielder with the O’s, finishing with a .664 OPS.

Over parts of eight seasons in the majors, Reimold hit .246/.323/.422 with 56 home runs and 174 RBI.

Mike Trout sprains thumb, to undergo MRI on Monday

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Angels outfielder Mike Trout sprained his left thumb and had to leave Sunday’s game against the Marlins. He underwent an X-ray, which revealed no fracture, but he is set to have an MRI on Monday for further evaluation, Jeff Fletcher of the Orange County Register reports.

Trout went 0-for-2 with a walk before exiting. The reigning AL MVP is batting .337/.461/.742 with 16 home runs, 36 RBI, 36 runs scored, and 10 stolen bases in 206 plate appearances this season. Needless to say, losing him for any amount of time would be a devastating loss for the Angels, who are 26-27 and tied for second place in the AL West.