No official announcement from the Reds on this yet, but ESPN and Fox are reporting this evening that closer Francisco Cordero and the team have reached preliminary agreement on a four-year, $46 million contract, which includes a club option for a fifth year and is subject to Cordero passing a physical.
Cordero worked 63-1/3 innings for the Brewers last season, converting 44 of 51 save opportunities while going 0-4 with a 2.98 ERA. He fanned 86 batters while walking only 18, and made the All-Star team for the second time in his career.
The signing would represent a second serious blow to the bullpen of the division rival Brewers, who have also apparently lost setup man Scott Linebrink to the White Sox. Linebrink reportedly has agreed to a four-year, $19 million deal with the ChiSox pending a physical.
The Fox article states that the deal would be the largest four-year contract ever given to a closer.