Phillies Sign Jonathan Papelbon

The Boston Globe is reporting that the Philadelphia Phillies have reached an agreement with Jonathan Papelbon.  The former Red Sox closer has reportedly agreed to a 4-year deal worth, in the neighborhood of, $50 million.

The deal also reportedly includes a vesting option that could take it beyond $60 million.  It would be the largest total package ever signed by a relief pitcher.  Papelbon had a 2.94 ERA in 2011 while converting 31-of-34 saves.  Papelbon had a 4-1 record as Boston's closer last year but failed to convert a save against the Baltimore Orioles in the final game of the season at Camden Yards.  The loss knocked the Red Sox out of the playoff hunt.