Right-hander Ryan Madson declined his Reds option and has become a free agent.
Madson, who missed the 2012 season but is expected back at full strength in 2013, received a $2.5-million buyout for declining his option.
Madson was to be the Reds' closer before suffering an elbow injury last spring training, but the Reds eventually filed the closer job with the 100-mph-throwing Aroldis Chapman. Madson had Tommy John surgery last spring. He had been the Phillies' closer for much of 2011.