Francisco Rodriguez posted a record 62 saves last season. (Kevork Djansezian/Associated Press)

Free-agent reliever Francisco Rodriguez reportedly reached terms Tuesday on three-year, $37-million US contract with the New York Mets.

The tentative deal still has to be drafted into a written document, and the record-setting closer needs to pass a physical to finalize it.

"The reason we have been looking at him is obvious," Mets general manager Omar Minaya said. "He is a competitor."

Rodriguez, 26, was rumoured to be seeking a five-year commitment in the neighbourhood of $75 million US, but he settled for three years with a vesting option for 2012.

The Mets were anxious to land either the flamboyant right-hander or fellow free-agent closers Trevor Hoffman and Brian Fuentes.

"We have said all along that we had to address a closer," Minaya said. "We felt that, this winter, there were a number of closers out there to address that."

Rodriguez, nicknamed K-Rod, posted a major-league record 62 saves for the Los Angeles Angels last season, eclipsing Bobby Thigpen's record of 57 set in 1990.

Rodriguez finished 2-3 with a 2.24 earned-run average in 76 relief appearances, striking out 77 batters and walking 34 in 68 1/3 innings pitched.

The three-time all-star is 23-17 with 2.35 ERA and 208 saves in 241 opportunities in 408 relief appearances since he broke into the majors with the Angels on Sept. 18, 2002.

"You [will] see a different spirit with the team," Mets manager Jerry Manuel said. "To have a guy of that sort at the end of a ball game is very important, very critical for us."

He made $10 million US last season, even though he lost to the Angels in arbitration.

With files from the Associated Press