Rays, Red Sox, Cardinals may be fallbacks for Ryan Madson

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Ryan Madson likely had a smile on his face back in early November when Jonathan Papelbon signed a four-year, $50 million contract with the Phillies.

That deal set the bar high for free agent closers, and Madson — with stats similar to Papelbon’s in recent years — probably figured he would also cash in.

But the market for relievers has since crashed, and there is no longer a line of teams looking to spend big on bullpen help. So where does Madson turn?

According to Nick Cafardo of the Boston Globe, the Rays, Red Sox and Cardinals “will be interested” in Madson “when and if” his current price drops. They won’t be offering four-year deals, and Boston and St. Louis can’t guarantee him a ninth-inning job out of the gate, but they’re all three projected to contend in 2012. And that might be worth something to Madson if, as expected, he’s unable to find the kind of massive contract he was looking for when this offseason began.