According to Jim Salisbury of CSNPhilly.com, the Phillies have agreed to terms with closer Jonathan Papelbon on a 4-year deal in the $50 million ballpark, pending a physical.
The Phillies were close to re-signing their former closer Ryan Madson to a rumored 4-year $44 million deal, but negotiations fell through and Amaro Jr. went with Papelbon instead.
Papelbon sported a 2.94 ERA with a 0.933 WHIP while recording 31 saves of 34 opportunities in the Redsox disheartening 2011 season. As a Type-A free agent, the Phillies will have to surrender their 1st round pick for signing Papelbon. If Philadelphia lets Madson walk however, they will get a first round pick in return.