The six-player swap between the two clubs has been finalized, with two players headed to Boston and four to Pittsburgh.
UPDATE - 12/26 3:05pm ET: The Red Sox and Pirates have finalized the players involved in the Joel Hanrahan swap, sending infielder Brock Holt to Boston along with the veteran closer, reports Evan Drellich of MLB.com. The Pirates will receive right-hander Mark Melancon, outfielder/first baseman Jerry Sands, and right-hander Stolmy Pimentel -- as originally reported -- along with infielder Ivan De Jesus.
Original Story - 12/23 2:00pm ET: The Boston Red Sox have agreed to terms with the Pittsburgh Pirates to acquire closer Joel Hanrahan, according to Jim Bowden of ESPN, though the final details of the deal are still being worked out.
It has been reported that first baseman/outfielder Jerry Sands and right-hander Stolmy Pimentel will be shipped to Pittsburgh in exchange for Hanrahan, and it is believed that right-handed reliever Mark Melancon could be part of the deal as well. There were rumors of young shortstop Jose Iglesias going to Pittsburgh as well, but those rumors have been shot down.
The Red Sox will be getting one more player in the deal, but it is unknown who that player will be at the moment.
Sands was acquired by the Red Sox in August during the deal that sent Josh Beckett, Carl Crawford and Adrian Gonzalez to the Los Angeles Dogers. Pimentel has been a pitching prospect in the Boston organization for several years and struggled mightily in Double A Portland this season. Melancon was acquired from the Houston Astros before last season and he spent most of his season in Triple-A Pawtucket after a rough start.
If the deal works out, it would give the Red Sox one of the strongest bullpens in the league. They also signed former Baltimore Orioles setup man Koji Uehara earlier this offseason and already have closer Andrew Bailey in the pen.