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.

Marlins catcher J.T. Realmuto reportedly asks to be traded

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Craig Mish of MLB Network Radio is reporting that Marlins catcher J.T. Realmuto has requested a trade out of Miami. Jon Heyman is characterizing it as Realmuto telling the team that he “wouldn’t mind” a trade.

Either way, Realmuto has no power to force a trade. This isn’t the NBA or something. Still, it’s evidence of just how dreary a prospect remaining in Miami is for Marlins veterans in the wake of trades that sent Giancarlo Stanton to New York, Marcell Ozuna to St. Louis.

Realmuto, who will turn 27 just before the 2018 season, hit .278/.332/.451 with 17 homers, 65 RBI, and eight steals over 141 games this past season. He only has three years of service time and is arbitration eligible for the first time this offseason. He made just $562K in the 2017 and will get a big raise this year, but he’s still going to be underpaid based on his production. If the Marlins wanted to trade him, they’d get a nice return. Why they would want to trade him, I have no idea.

Expect more of this sort of thing as the Marlins slash payroll and make it clear that their immediate priorities are more about saving money and less about winning baseball games. Which may or may not be a valid goal for the team’s new owners, but is certainly a letdown for baseball players and fans.