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.

Video: Gleyber Torres slugs a home run in his fourth straight game

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Yankees rookie second baseman Gleyber Torres has a fun streak going right now: He’s homered in four straight games, becoming the youngest American League player to do so.

The historic knock arrived in the seventh inning of Friday’s series opener against the Angels. With two outs and the bases empty, Torres pounced on a 1-3 fastball from Jim Johnson and posted it to the right field bleachers for a go-ahead run:

It was just the Yankees’ second run of the night (the first having also been provided by Torres on an RBI single in the second inning), but the only one they needed to maintain an edge over the Angels.

Torres, 21, is off to a torrid start this season. Following Saturday’s 2-1 win, he now carries a .333/.393/.646 batting line, nine home runs and a 1.038 OPS through 106 plate appearances. In the past four games alone, he’s gone 7-for-15 with five homers (including a pair of solo shots, a two-run homer and three-run homer) and nine RBI. He’ll have to collect a home run in his next five games if he wants to set a new all-time record, however: Dale Long (1956 Pirates), Don Mattingly (1987 Yankees), and Ken Griffey Jr. (1993 Mariners) currently share the record for the longest home run-hitting streak, at eight games apiece.