Update (8:06 PM EST): The Diamondbacks will receive a pair of minor league players from the Mets in exchange for Reed, per MLB.com’s Steve Gilbert.
Reed began the year as the Diamondbacks’ closer, but struggled and was taken out of the closer’s role in mid-May. Even in lower-leverage situations, his troubles continued, resulting in his being optioned to Triple-A Reno in June. The club recalled him in late July.
Overall, Reed has blown two saves in five chances with a 4.20 ERA and a 34/14 K/BB ratio in 40 2/3 innings. He’s earning $4.875 million for the 2015 season and will be eligible for his second season of arbitration heading into 2016.