Jonathan Papelbon

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

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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.

Dusty Baker on struggling Jonathan Papelbon: “He doesn’t look very good.”

WASHINGTON, DC - JULY 24:  Jonathan Papelbon #58 of the Washington Nationals looks on after coming out in the ninth inning during a baseball game against the Washington Nationals at Nationals Park on July 24, 2016 in Washington, DC.  The Padres won 10-6.  (Photo by Mitchell Layton/Getty Images)
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The Nationals lost a heartbreaker on Tuesday night, as the Indians overcame a two-run deficit in the bottom of the ninth inning to beat the Nationals 7-6. Closer Jonathan Papelbon faced five batters but was unable to record an out, yielding a leadoff walk, a double, a bunt that ended up very successful due to a Ryan Zimmerman throwing error, an intentional walk, and a single. Oliver Perez came in and eventually allowed one of his inherited runners to score, saddling Papelbon with the loss.

Papelbon also served up four runs in the outing before Tuesday’s, on Saturday against the Padres. The two clubs entered the top of the ninth tied 6-6, but a walk followed by three two-out singles and a bases-clearing double off of Papelbon allowed the Padres to take a 10-6 lead.

On the season, Papelbon is 19-for-22 in save chances with a 4.18 ERA and a 30/12 K/BB ratio in 32 1/3 innings. If the season were to end today, the right-hander’s 21.4 percent strikeout rate would be the lowest mark of his career and his 8.6 percent walk rate would be his highest mark since 2010.

Manager Dusty Baker didn’t indicate that he’s going to make a change at closer, but he sounded dissatisfied with Papelbon’s performance thus far. Via Mark Zuckerberg of MASN, Baker said, “He doesn’t have his command, which is evident when you walk the leadoff hitter. But it’s like, what do you say? How does he look? Right now he doesn’t look like Pap. He doesn’t look very good. Usually he doesn’t walk people like that.”

The non-waiver trade deadline is on Monday, August 1. The Nationals, at 58-42, still have a four-game lead over the Marlins and a 4.5-game lead over the Mets. Tuesday’s loss has motivated the club to attempt to upgrade the bullpen, Jon Morosi reports. The Nationals were in the mix for Aroldis Chapman before the Yankees sent him to the Cubs. Perhaps Andrew Miller could be next on the Nats’ wish list.

Blue Jays trade Drew Storen to the Mariners for Joaquin Benoit

TORONTO, CANADA - MAY 29: Drew Storen #45 of the Toronto Blue Jays delivers a pitch in the eleventh inning during MLB game action against the Boston Red Sox on May 29, 2016 at Rogers Centre in Toronto, Ontario, Canada. (Photo by Tom Szczerbowski/Getty Images)
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The Blue Jays announced on Tuesday night that the club traded reliever Drew Storen and some cash to the Mariners in exchange for reliever Joaquin Benoit.

Storen, 28, was designated for assignment by the Jays on Sunday after posting a 6.21 ERA with a 32/10 K/BB ratio in 33 1/3 innings. The Jays acquired him during the offseason from the Nationals in exchange for Ben Revere and a player to be named later.

Benoit, 38, struggled as well, putting up a 5.18 ERA with a 28/15 K/BB ratio in 24 1/3 innings with the Mariners.