The deal is pending Chapman's medical examination. Team president Walt Jocketty said last month that the Reds were hoping to move the left-hander before the winter meetings, and did just that a few days prior to their deadline in Nashville.
Los Angeles has lost out on numerous pitchers this off-season, including losing Cy Young runner-up Zack Greinke to the Arizona Diamondbacks on Friday after he opted out of his Dodger deal in November. They were also in the running for the likes of Jeff Samardzija and Jordan Zimmerman, who both found homes elsewhere.
The Dodgers already have an established closer in Kenley Jansen, who recorded 36 saves last season and 44 in 2014. There has been no word on who will be the official closer next season and if Jansen will be on the move. If both remain on the active roster, one is expected to be bumped to the setup role.
Chapman has a career 2.17 ERA and 146 saves in six years in the majors. He has used that 100+mph fastball to average 15.4 strikeouts per nine innings. The four-time All-Star has thrown the 62 fastest pitches in the past season, with his fastest pitches ranging from 102.36 to 103.92 mph.
The Dodgers lost a lot in the front of their rotation, but still have the ace Clayton Kershaw leading the way. They will continue to look for help in the two and three roles, including recent trade talks with the Miami Marlins regarding Jose Fernandez. In the meantime, they can be confident with the depth, and heat, they have added to the back of their bullpen.