UPDATE: Phillies, Jonathan Papelbon agree to four-year, $50 million contract


UPDATE III: Jon Heyman of SI.com reports that Papelbon is guaranteed $50 million over four years while the vesting option is believed to be easily attainable.

UPDATE II: If you were somehow on the fence about this deal being excessive, this should push you overboard and then some. Jayson Stark of ESPN.com reports that Papelbon will also receive a vesting option for a fifth year which would make the total package worth more than $60 million.

UPDATE: Oh boy. Salisbury reports that the deal is for four years and approaches $50 million.

Meanwhile, Jon Heyman of SI.com has confirmed the deal.

2:33 PM: Well, here’s an old fashioned swerve.

According to Jim Salisbury of CSNPhilly.com, the Phillies and Jonathan Papelbon have reached agreement on a contract, pending a physical.

No word on the contract details yet, but the Phillies were reportedly close to signing Ryan Madson to a four-year, $44 million contract with a club option for a fifth year. You’d have to think it would be something similar, if not more.

Papelbon, who turns 31 later this month, has a 2.33 ERA over seven seasons in the big leagues. He struggled with his command last season, leading to a career-high eight blown saves, but bounced back in a big way in his contract year, posting a 2.94 ERA and 87/10 K/BB ratio over 64 1/3 innings.

Papelbon qualifies as a Type A free agent this winter, so barring changes to the CBA, the Phillies will surrender their first-round pick (No. 31 overall) in the 2012 First-Year Player Draft to Boston.

If Salisbury’s report is true, Papelbon’s deal would be the richest contract ever for a relief pitcher, surpassing the five-year, $47 million deal B.J. Ryan signed with the Blue Jays in November of 2005. Mariano Rivera would still have the highest average annual (AAV) for a relief pitcher, at $15 million.

Alex Dickerson to undergo Tommy John surgery

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Alex Dickerson, recently diagnosed with a sprained UCL in his left elbow, will undergo Tommy John surgery near the end of March, Dennis Lin of The Athletic reports. Dickerson tried to rehab the injury, but he didn’t show improvement. The surgery will likely end his 2018 season.

Dickerson, 27, missed the entire 2017 season due to a bulging disk in his back, undergoing surgery for that as well. Dickerson performed well in 84 games in 2016, batting .257/.333/.455 with 10 home runs and 37 RBI across 285 plate appearances.

Dickerson was hoping to earn a spot in the Padres’ crowded outfield, but will now concede that opportunity and hope to turn things around next year.