CINCINNATI — Free-agent closer Ryan Madson and the Reds finalized their $8.5 million, one-year contract.
The deal, agreed to Jan. 11 and announced Friday, calls for $6 million this year, with $2 million is deferred until Nov. 1 and $2 million until Nov. 1, 2013.
It includes an $11 million mutual option for 2013 with a $2.5 million buyout.
Madson saved 32 games in 34 chances last year for NL East champion Philadelphia. He replaces Francisco Cordero as the Reds' closer.
Madson told the Cincinnati Enquirer that he's "very excited … to start a new chapter'' and that he thinks Cincinnati has "a real good chance to be in the playoffs."
DODGERS BANKRUPTCY: The Dodgers filed a proposed bankruptcy reorganization plan, a little more than a week after resolving a court fight with Fox Sports that threatened plans to sell the club.
The Dodgers said in documents filed in U.S. Bankruptcy Court in Wilmington, Del., that the team's pending sale should satisfy all creditor claims in full, either through cash payments or assumption of the claims by new owners.
The Dodgers aim to complete a sale by April 30, coinciding with the deadline for owner Frank McCourt to pay $131 million to his ex-wife, Jamie, as part of their divorce settlement.
ATHLETICS: Foxsports.com reported that the team agreed to a one-year, $1.1 million with former Rays outfielder Jonny Gomes.
ASTROS: Free-agent catcher Chris Snyder has agreed to a one-year contract including a 2013 mutual option.
GIANTS: Right-handed relief pitcher Sergio Romo and the team settled on a $1,575,000, one-year contract to avoid an arbitration hearing.
NATIONALS: Outfielder Michael Morse agreed to a two-year deal for about $10.5 million, avoiding arbitration.
RANGERS: First baseman/outfielder Brad Hawpe signed a minor-league contract.
YANKEES: Outfielder Brett Gardner agreed to a $2.8 million, one-year deal, avoiding arbitration. The figure was midway between the $3.2 million Gardner had asked for and the $2.4 million the team offered.
TRADE: Cleveland acquired right-hander Kevin Slowey from Colorado for minor-league reliever Zach Putnam and cash. Indians general manager Chris Antonetti said the deal was not a direct reaction to pitcher Fausto Carmona's arrest in the Dominican Republic on false identity charges. Carmona, whose real name reportedly is Roberto Hernandez Heredia, was released on $13,000 bond and apologized to the team.