Ken Rosenthal of FOX Sports reported earlier today that the teams were making progress on a deal, but there have been a lot of hurdles to climb through, including his contract and how he'd only be traded if he would be the closer.
Papelbon will be taking less money in order to leave the Phillies, Rosenthal reports. The Nationals are picking up his vesting option for 2016, but he will likely be making less than the $13 million figure that was initially in his deal.
As expected, Papelbon will close for the Nationals following the trade, Rosenthal adds.
The 34-year-old and six-time All-Star has wanted to leave the Phillies quite some time now, considering they have been out of contention and aren't going to win a World Series anytime soon. Many teams liked and showed interest in acquiring Papelbon, such as the Blue Jays.
Papelbon is an elite closer and is 1-1 with a 1.59 ERA (2.94 FIP) this season in 37 games pitched, where he is a perfect 17-for-17 in save chances. He has a 40 to 8 strikeout-to-walk ratio in 39 2/3 innings.