Red Sox Acquire Alex Gonzalez

2:55pm: According to their team Twitter, the Reds are sending cash to Boston to help cover the remainder of Gonzalez's $5.4MM salary. Ken Rosenthal of FOX Sports hears that the Reds are sending $1.1MM along. When you figure in the $500k buyout, there's a minimum of about $2MM remaining on Gonzalez's deal.

1:20pm: Rob Bradford of reports that the Red Sox are sending minor league shortstop Kris Negron to Cincinnati in the deal. The Red Sox selected the 23-year-old in the seventh round of the 2006 draft and he's now hitting .264/.338/.347 with 20 steals in high-A ball.

1:13pm: Tony Massarotti of the Boston Globe says the deal is complete, though the Red Sox have yet to make an official announcement.

1:03pm: Peter Gammons of reports that the Red Sox are finalizing a deal to acquire Gonzalez.

12:17pm: The Red Sox acquired shortstop Alex Gonzalez from the Reds, according to Gary Dzen of the Boston Globe. It's not known what, if anything, the Reds will receive in exchange for Gonzalez, who just cleared waivers. He makes $5.4MM this year and there's a $6MM option on his contract for next year that the Red Sox can buy out for $500k. Dzen expects the Red Sox to release Chris Woodward.

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