Papelbon, 30, has served as the Boston Red Sox closer since 2006. Last year for Boston he posted a career-low 31 saves with a 2.94 ERA. The four-time All-Star has averaged 37 saves and a 2.33 ERA over seven professional seasons.
The Phillies are in need of a closer after news broke yesterday that the club was not optimistic about re-signing incumbent closer Ryan Madson. Madson reportedly wants a four-year $44 million contract, which is more than the Phillies are likely to agree to.