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PHILADELPHIA (AP) – Jonathan Papelbon and the Philadelphia Phillies have completed a $50 million, four-year contract.
The former Boston Red Sox closer receives the largest contract ever for a reliever. He replaces Ryan Madson, who is also a free agent.
Papelbon turns 31 on November 23rd. He had 219 saves over seven seasons with the Red Sox, including 31 this year, when he made $12 million.
His contract includes a vesting option for 2016 that could become guaranteed based on games finished, and would make the deal worth $63 million over five seasons.
The Phillies were preparing to introduce Papelbon at a news conference tonight.
(Copyright 2011 by the Associated Press. All rights reserved.)