Update 3:29 ET: MLB Networks Tom Verducci says the third player going to Cleveland is Bryan Price.
Update 3:07 ET: USA Today's Bob Nightengale tweets "Done Deal," but no conformation on the return.
Update 2:45 ET: Mayo updates (via twitter) that Masterson and Hagadone are part of the deal, but the teams are still working to see who will go along with them.
Update 2:41 ET: Jonathan Mayo of MLB.com tweets that Justin Masterson and Nick Hagadone are part of the deal, but no word if that's it.
Update 2:33 ET: Rosenthal and Morosi say neither Clay Buchholz or Daniel Bard is in the deal.
Update 2:26 ET: Ed Price of AOL Fanhouse tweets that if the Red Sox need to flip Adam LaRoche to make room for Martinez the Marlins aren't interested.
Update 2:22 ET: Ken Rosenthal and John Paul Morosi of FOXSports.com confirm the report that the Red Sox are on the verge of acquiring Victor Martinez. They duo reports that it's a straight up deal between the Sox and Indians, and that no third team is involved. However, still now word on what the Red Sox are giving up.
Update 2:04 ET: Ed Price of AOL FanHouse tweets, that it "looks good" for Victor Martinez to the Red Sox, but still no word on the haul.
USA Today's Bob Nightengale is reporting that the Red Sox are on the verge of acquiring Victor Martinez from the Indians.
Details to follow...