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There's a lot in the deal, so here's ESPN for the details if you have not heard them already.
Jon Heyman is reporting that the deal has been agreed upon by the teams and is awaiting approval from the league.
Crazy deal, but one that will help both clubs. The Red Sox get a bailout on all their bad contracts giving them a ton of flexibility moving forward, plus whatever they take back in the deal. On the other hand, the Dodgers probably put themselves at the top of the WS Contenders list. Good for Donnie.