The Phillies will sign Jonathan Papelbon.
MLB Trade Rumors reports that Type A free agent Papelbon is expected to sign on with the Phillies. The agreement is pending a physical.
At one point, the Papelbon deal was reportedly approaching $50 million. Now, it appears that Papelbon's contract could be worth over $60 million.
Papelbon, 30, posted a 2.94 ERA with 12.2 K/9 and 1.4 BB/9 in 64 1/3 innings for the Red Sox in 2011, saving 31 games. Unless the Phillies sign an additional Type A free agent with a higher ranking than Papelbon, Boston will obtain the 31st overall pick in next June's draft.
Read more about Jonathan Papelbon here.