According to Jim Bowden of ESPN and other reports, the Red Sox have acquired Joel Hanrahan and another player from the Pittsburgh Pirates for Mark MelanconJerry Sands, Stolmy Pimentel and another player. The former Pirates closer had 36 saves in 2012 and 40 saves in 2011. Hanrahan, a two-time All-Star, holds career numbers of 3.74 ERA/3.62 FIP/3.78 xFIP. Bill James projects Hanrahan to have a 3.63 ERA and a 3.61 FIP in 2013. Although Hanrahan had an impressive 10.11 K/9 in 2012 (up from 8.00 in 2011), his walk rate ballooned from 2.10 per 9  in 2011 to an ugly 5.43 per 9 in 2012. However, this is a result of a horrible last month of the season, where Hanrahan had 9 strikeouts against 10 walks in 9 innings pitched.

The discussion of the final two players involved in the deal, as well as physicals, could delay the completion of the deal past Christmas, according to Jon Heyman.

The Los Angeles Dodgers drafted Hanrahan in the second round of the 2000 draft. After becoming a free agent in 2006, Hanrahan signed with the Washington Nationals. The Nats traded Hanrahan and Lastings Milledge  to the Pirates in 2009 for Sean Burnett and Nyjer Morgan.

The Red Sox acquired Sands in the August mega-deal with the Los Angeles Dodgers. The Sox received Melancon in a trade with the Houston Astros for Jed Lowrie and Kyle Weiland. The Red Sox signed Pimentel as an international free agent in 2006.

Hanrahan will most likely be the new Red Sox closer, but they already have Andrew Bailey and Alfredo Aceves, both of whom have shown the ability to be a closer. Hanrahan made $4,100,000 in 2012 and is arbitration-eligible for the third and final time 2013. He will be a free agent after this season.

UPDATE: The last two players in the deal, according to Evan Drellich, will be Brock Holt and Ivan De Jesus Jr. The Pirates drafted Brock Holt in the 9th round of the 2009 draft. Holt is a second baseman and made his MLB debut in 2012. The Red Sox acquired De Jesus the August mega-deal with the Los Angeles Dodgers.