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01/20/09 10:40 AM EST

Phillies give Madson three-year deal

Team avoids arbitration with one of top relievers for $12 million

One of the biggest reasons the Phillies were able to capture the franchise's second World Series title was the fact they sported the National League's best bullpen.

On Monday, Philadelphia made sure a critical part of that 'pen wouldn't be going anywhere for a while, reaching an agreement on a three-year, $12 million deal with right-hander Ryan Madson.

The Phillies formally announced the signing on Tuesday.

"Ryan has emerged as a quality setup reliever and big-game pitcher," senior vice president and general manager Ruben Amaro Jr. said. "We're very happy that he will be part of our bullpen for at least another three years."

The extension for Madson is important, considering he was eligible for free agency after the upcoming 2009 season. And with J.C. Romero suspended the first 50 games after testing positive for an over-the-counter substance under Major League Baseball's Drug Policy, the 28-year-old Madson's presence as a reliever is even more crucial.

With his signing, the Phillies have five arbitration-eligible players remaining: Jayson Werth, Chad Durbin, Joe Blanton, Ryan Howard and Shane Victorino. Werth is the only player left who will be eligible for free agency after 2009. Salary figures between clubs and their players will be exchanged on Tuesday, with hearings being scheduled at any point between Feb. 1-21.

Madson, who earned $1.4 million in 2008, went 4-2 with a 3.05 ERA in 76 games during his sixth season in the Major Leagues -- all with the Phillies. In the postseason, he went 3-0 with a 2.13 ERA in 11 postseason appearances. Since being Philadelphia's ninth-round Draft pick in 1998, Madson has gone 32-21 with a 3.94 ERA in 295 games.

He will earn $2 million in 2009, plus a $1 million signing bonus, followed by $4.5 million in both 2010 and 2011, according to The Associated Press. According to The Philadelphia Daily News, Madson will receive bonuses ranging from $150,000 to $250,000 should he finish with 35-65 appearances. He'll also recieve $100,000 if he wins the Rolaids Relief Man of The Year Award, and $50,000 for an All-Star appearance.

Alden Gonzalez is an associate reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.