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Relievers Notes: Wood, Madson, Papelbon

Jonathan Papelbon became the first major free agent to change teams yesterday, agreeing to a four-year contract worth $50MM with the Phillies. Reactions to the contract were generally mixed, though almost everyone agreed that the size of the deal was staggering. Let's round up the latest from the relief pitcher market...

• Paul Sullivan of The Chicago Tribune reports that Cubs president of baseball operations Theo Epstein has had preliminary talks with Kerry Wood, who is expected to return next season. The 34-year-old righty pitched to a 3.35 ERA in 51 IP after returning to Chicago's north side on a below-market one-year, $1.5MM contract last winter.
• Despite reports of a four-year, $44MM offer, MASN's Jen Royle hears from a source that the Phillies only offered Ryan Madson a three-year contract. They were unwilling to give him the extra year he wanted (Twitter link).
• The Red Sox, meanwhile, were not willing to give Papelbon a guaranteed fourth year according to Ken Rosenthal of FOX Sports (on Twitter).
• MLB.com's Peter Gammons reports (on Twitter) that the Red Sox offered Papelbon to the Braves in exchange for Javier Vazquez two offseasons ago. Atlanta rejected the offer, then traded Vazquez to the Yankees shortly thereafter.
• Jon Paul Morosi of FOX Sports wrote about how the rest of the closers' market is shaping up and the impact of Papelbon's contract. Here is our look at the trade and free agent markets for right-handed relievers.

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