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Papelbon not heading to a hearing

01.19.10 at 2:06 pm ET

Jonathan Papelbon has a one-year deal in place with the Red Sox that would be in the neighborhood of $9 million. (Update: The deal is for $9.35 million, with Papelbon getting a $50,000 bonus for 60 games finishes — he finished 59 in 2009.)

The parameters of the deal evidently were reached just prior to the noon deadline for the two sides to exchange arbitration figures, as was also the case last year.

Papelbon would become the highest paid closer with four-year service time, surpassing Eric Gagne’s mark of $8 million annually. Some other comparable contracts earned by four-year closers were Bobby Jenks ($7.5 million), Mariano Rivera ($7.25), and Francisco Rodriguez ($7.1). Rodriguez would make a record $10 million in his third year of arbitration eligibility.

Multiple reports also suggest relievers Manny Delcarmen and Ramon Ramirez have avoided an arbitration hearing by agreeing to one-year deals with the Red Sox. It would leave outfielder Jeremy Hermida as the only arbitration-eligible player on the Sox to not have inked a deal.

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