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.

Congratulations Justin Turner!

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Baseball is a young man’s game. Whereas, a few short years ago, teams went into battle with a lot of guys with ten or twelve years of experience under their belt, these days such veterans are a dying breed. Whether you chalk it up to teams favoring youth because youth is less expensive, the game simply favoring younger, more athletic players, the decline in PED use among ballplayers or some combination of all three, the fact is that it’s better to be 23 in Major League Baseball these days than 33.

But Dodgers third baseman Justin Turner is an exception.

Turner is 33 — he turns 34 in November — yet he remains at or near the top of his game. It’s been a shorter season than usual for him due to an injury that cost him all of April and part of May, but his production when healthy remains at a near-MVP level. He’s hitting .318/.413/.525 on the year, and his return coincided with the Dodgers shaking off their early-season doldrums. Now, with his help, they are on the verge of yet another NL West title.

Not only that, but he’s doing that while holding down a second job!

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Way to hustle, Justin!