The Angels have recently had dialogue with the representative for veteran closer Francisco Cordero — though they may only be in the periphery right now — an industry source familiar with the discussions told MLB.com.

The source pinned the market for Cordero as down to three or four teams, with the Angels and Reds being two of them. At this point, however, it’s hard to gauge where the Angels stand in that race considering the money they’ve spent this offseason and general manager Jerry Dipoto’s recent statements — that he already has a good ninth-inning man in Jordan Walden, and that finding a closer has never been a priority this offseason.

Cordero is only looking to go into a situation where he can close, and he’d probably have to take a big paycut or backloaded deal — or both — to find a fit in Southern California. All along, his former team, the Reds, have seemed to be the favorite for Cordero (as Reds reporter Mark Sheldon outlined recently). But the Angels checked in with his agent, Bean Stringfellow, within the first 24 hours of the free-agency period and up until two days ago, the source said.

Asked on Thursday about the chances of landing high-profile closer Ryan Madson, Dipoto called it “very unlikely,” adding: ”Through the course of this offseason, we have never prioritized a closer, and while it’s certainly appealing to think about the option of adding a guy like Ryan Madson, it just doesn’t fit what we’re trying to do right now, and that’s from a variety of different perspectives.”

The 36-year-old Cordero, a three-time All-Star, has compiled a 3.17 ERA and 327 saves in his 13-year career. With the Reds in 2011, he posted a 2.45 ERA and a 1.019 WHIP while converting 37 of his 43 save chances.