Nationals, Phillies agree to Jonathan Papelbon trade

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Barry Svrluga of the Washington Post was first to report that a deal was close, and now Jon Morosi of FOX Sports has it confirmed: Phillies closer Jonathan Papelbon is headed to the Nationals.

ESPN’s Jim Bowden first relayed that the return for the Phillies would be a pitching prospect who is currently with the Nationals’ Double-A club. That prospect is right-hander Nick Pivetta, per Todd Zolecki of MLB.com. He was ranked the 12th-best prospect in the Nationals’ system this winter by MLB.com, so this is basically a salary dump.

Papelbon has stated that he would only waive his no-trade clause if he gets to remain a closer, so he’s going to push Drew Storen into a setup role in Washington.

Papelbon owns a sparkling 1.59 ERA and 40/8 K/BB ratio in 39 2/3 innings this season for the Phillies, and he’s 17-for-17 in save opportunities. The 34-year-old right-hander is earning $13 million this year and he carries a $13 million vesting option for the 2016 season. According to FOX Sports’ Ken Rosenthal, Papelbon is going to give up that vesting option for an $11 million guaranteed salary.