BOSTON (CBS) – Jonathan Papelbon has agreed to a deal with the Philadelphia Phillies, Comcast Sports in Philadelphia is reporting.

The deal is expected to be for four years and approaching the $50 million mark.  It is currently pending a physical.

ESPN is reporting there is a vesting option that could take it beyond $60 million, according to a source. If finalized, the contract would be the largest total package ever signed by a relief pitcher.

Gallery: Potential Free Agent Targets

Papelbon is coming off one of his most successful seasons as Boston’s closer, with 31 saves in 34 chances and a 2.94 ERA.

Red Sox General Manager Ben Cherington says the Sox have not made an offer to Papelbon.

A two-time All-Star, Papelbon helped the Red Sox win the World Series in 2007, notching four saves during the playoffs.  After the ALCS and World Series clincers, Papelbon donned a kilt and danced an Irish jig at on the field. He even did the jig during the World Series parade.

Papelbon did not allow a run in his first 25 career postseason innings.

The right-hander is the Red Sox all-time leader in saves with 219. He has notched 30 or more in each of the last six seasons.

Comments (12)
  1. Lori says:

    NOOOOOOOOOOOOOOOOOOOOOO!!!!!! Don’t leave!!! I do not think we will come close to winning the world series again for MANY MANY years!!!! SHEESH, the Red Sox are SUCH a mess right now!!!

  2. FireGuyFrank says:

    The Sox are rebuilding. They won’t be of any consequence in 2012.

  3. toosoxy says:

    Maybe he will fail his physical? No. I didn’t mean that. I am very upset about this. Think Heath Bell can jig?

  4. Lance says:

    Let the bum with a big ego go,this guy has lost some big games for us.guys figured him out quickly i mean he only has one all his antics on the mound BYE BUDDY WE WONT MISSS YOU

  5. 092 ERA says:

    Looks like we’re close to signing Bell!

  6. dcrintaunton says:

    and the sox never made an offer. my guess is that the guy was planning to flee well prior to the past season. therefor, no offers to entertain. eh, pap? so how does cherington entice a manager as the wheels are falling off the wagon? sox have a fair nucleus, but it is probably over for a few seasons. no interest here.

  7. jaygee says:

    The fact that he’s going to Philly is of little consequence. The big question is how can anyone think he is worth $50 million dollars for 4 years. Talk about being in the 1%. He pitches 1 or 2 innings every 3rd game and for that he gets this many pesos. There is definately something wrong here.

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