Free agent closer Jonathan Papelbon has agreed to terms with the Philadelphia Phillies, according to Jim Salisbury of Comcast Sports Philadelphia. The terms of the contract are not yet disclosed.
The Phillies were reportedly close to a four-year, $44 million deal to retain closer Ryan Madson, but those negotiations fell apart and the team turned to Papelbon, who had always been on Philadelphia's free agent radar.
Papelbon spent seven seasons with the Boston Red Sox, amassing a 2.33 ERA and 219 saves. He saved 31 games in 2011, posting a 2.94 ERA and a 0.93 WHIP.
Since Papelbon is a type A free agent, the Red Sox will receive Philadelphia's top draft pick as compensation.
Red Sox officials had previously expressed a desire to retain Papelbon, but Boston's closer position could now fall to Daniel Bard. Bard had a 3.33 ERA in 2011.