UPDATE: Tim Brown of Yahoo! Sports confirms that the two sides are discussing a four-year, $44 million deal with a $13 million vesting option for 2016. Oh, Ruben.
5:52 PM: We learned earlier today that the Phillies and Ryan Madson were closing in on a new contract and now we have some of the details.
Jim Duquette of MLB Network Radio on Sirius XM reports that the two sides are close to agreeing on a four-year deal with a potential vesting option for a fifth year.
Jon Heyman of SI.com hears that they are discussing a deal for about $11 million per season, so we could be looking at a four-year, $44 million contract.
Madson’s agent Scott Boras usually lets these situations play out a little longer, but he would be crazy to leave an offer like this on the table. If this goes down, you can be sure that some of the other high-profile free agent closers (Jonathan Papelbon, Heath Bell, Francisco Rodriguez) will be sending Ruben Amaro, Jr. a Christmas card.