The elbow injury to Reds closer Ryan Madson will require Tommy John surgery, ending the right-hander's season, according to John Fay of the Cincinnati Enquirer (via Twitter). The Reds do not have insurance on Madson's one-year, $8.5MM contract, Fay tweets.
The market didn't go Madson's way this winter and the Scott Boras client wound up settling for considerably less than most anticipated. The injury will not only cost the closer his 2012 season, but likely major cash on his next contract. At one point, it seemed as though Madson and the Phillies were closing in on a four-year, $44MM pact, but that never came to fruition.