In addition to the player acquisitions, the move saves the D-backs around $950,000 for the rest of this year. Reed is earning $4.875 million this season and is set for another raise in arbitration this offseason.
Reed, who lost the closer's job earlier this year, was 2-2 with a 4.20 ERA in 38 games this year. He was demoted to Triple-A Reno for a little over a month in the middle of the season to try and work out his mechanical issues.
In 13 games since his return he has a 1.65 ERA in 16 1/3 innings.