Boston Red Sox closer Jonathan Papelbon has set a new record only a day after Bobby Jenks did.
To avoid arbitration hearings, the Red Sox and Papelbon have agreed to a one-year contract worth $6.25 million.
While both sides had discussions for a multi-year deal, they could not come to terms. ESPN News reports the two sides will still talk about a longer contract.
In a previous blog I wrote how Papelbon plans to test the free agent market when his contract expires in 2011. Apparently, that still seems to stand.
The previous record set by a closer in arbitration was $5.65 million for Chicago White Sox closer, Bobby Jenks. The record before that was $5 million. That was back in 2004 by Eric Gagne.