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.

Yankees keep ALCS hopes alive with 4-1 win over Astros

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The Yankees defeated the Astros 4-1 during Game 5 of the American League Championship Series on Friday night, staving off a potential postseason elimination and forcing the series to at least six games.

In just the third playoff appearance of his career, Yankees southpaw James Paxton turned in another impressive performance, limiting the Astros to four hits and four walks over six innings of one-run ball. According to MLB Stats, his nine strikeouts made him the second Yankees lefty to record multiple starts of 8+ strikeouts in the same postseason campaign, two decades after David Wells did so for the 1998 championship-winning club.

Paxton’s strong outing was backed by a handful of runs from DJ LeMahieu and Aaron Hicks, both of whom went deep against Astros ace Justin Verlander in the bottom of the first inning. LeMahieu’s leadoff solo shot marked his first postseason home run since Game 1 of the ALDS, while Hicks’ three-run 347-footer was his first home run of any variety since July 24 (and his first in the playoffs since the 2017 ALDS).

Neither team managed a single run after the first inning, leaving the two pitching staffs to duke it out for eight quick innings. Verlander outlasted Paxton — taking the game through the seventh with five hits, four runs, and nine strikeouts — but even with a flawless contribution from Brad Peacock in the eighth, there was little the hurlers could do to help the Astros solve Paxton and an airtight Yankees bullpen.

With the win, the Yankees will try to push the series to a full seven games in order to snatch the AL pennant from the Astros. They’ll have to do in Houston, however, as the Astros will regain home field advantage when Game 6 kicks off on Saturday at 8:08 PM EDT. Neither starter has been announced yet; per Houston skipper A.J. Hinch, it will likely be a bullpen day.