Cordero update II

Ken Rosenthal of foxsports.com reports that the Reds have reached an agreement on four-year, $46 million deal with free agent closer Francisco Cordero.

GM Wayne Krivsky wouldn't confirm that, but said: "We're having conversations. It takes two sides to get a deal done."

CEO Bob Castellini said: "We have not signed a contract with Cordero."

Have you agreed to a contract in principle?

"We have not signed a contract with Cordero?" Castellini said.

My guess is it's done, pending a physical. The Reds never give long-term contracts without a physical, and Cordero has not come to Cincinnati have one done.

The fact the Reds are even talking to Cordero says they have money to spend on the free agents. A signing like this would put the payroll over $80 million, unless the contract is heavily backloaded.

"I'll let you make that assumption," Krivsky said. "You look at the closer's market and he's one of top guys."

Cordero saved 44 games last year for Milwaukee and had a 2.98 ERA.

Talking to other people with the Reds at the start of free agency, I got an inkling that Cordero was on their list. It makes sense. The club knows it has to upgrade pitching. Cordero would be an instant fix for the bullpen -- at lesser rate than a No. 3 starter. Rosenthal, citing sources, says Milwaukee offered Cordero $42 million for four years.