Update 3 (8:32 PM ET): Matt Gelb of the Philadelphia Inquirer also disputes Olney’s report. In fact, Gelb reports that the Phillies are moving in on a deal with free agent pitcher Tommy Hunter.
Update (8:18 PM ET): ESPN’s Buster Olney reports that the Phillies are closing in on a three-year deal with Reed.
Reed, who turns 29 years old later this month, had a solid season between the Mets and Red Sox this past season. He compiled an aggregate 2.84 ERA with 19 saves and a 76/15 K/BB ratio in 76 innings. Reed has had the two best years of his career over the last two seasons, which is certainly an encouraging trend.
The Phillies signed Pat Neshek on Monday evening, but apparently would like to add another veteran arm to the bullpen. If signed, the Phillies would likely use Reed ahead of closer Hector Neris. Neshek would currently operate in the set-up role, though new manager Gabe Kapler would probably use the two interchangeably on an as-needed basis in that role.