The Boston Globe and other sources are reporting that the Red Sox and San Diego Padres have agreed on a deal that will bring slugger Adrian Gonzalez to Boston in exchange for three minor leaguers.

The Globe is reporting that MLB sources have confirmed the Padres will receive P Casey Kelly, 1B Anthony Rizzo and CF Rey Fuentes in the trade.

If the report turns out to be true, Red Sox Nation will have to give Theo Epstein a HUGE tip of the cap for finalizing the deal while retaining P Daniel Bard, SS Jose Iglesias and OF Ryan Kalish.

The cost is significant, but it could have been much worse. The organization seems to have prepared itself nicely to trade away a bevy of talent, both in terms of talent already withing the system and draft picks (the Red Sox will have as many as seven of the first 50 or 60 picks in the 2011 draft).

Kelly is the organization’s top prospect, but the club drafted another pitcher last June who may have more upside than Kelly… they selected RHP Anthony Renaudo, from LSU, with the 39th pick in the 2010 draft.

Renaudo was projected to be a top-five pick when the 2009 college season got underway, but he suffered an elbow injury and slid to the Sox in the supplemental round (the pick was one of the two picks the Red Sox received for Billy Wagner).

The Red Sox held off signing him and watched his progress during the Cape Cod League season—where he impressed everyone—before signing him at the eleventh hour.

He has an extremely high ceiling. Some of the luster wore off Kelly’s prospect status last season, and some scouts now have him rated as a middle-of-the-rotation talent, whereas most observers believe Renaudo can become a top-of-the-rotation horse.

Rizzo is an excellent prospect who will likely start the 2011 season in Triple-A with the Padres. But with Gonzalez in the fold, the Red Sox don’t need a first baseman, so Rizzo and fellow prospect Lars Anderson both become expendable.

Fuentes is an athletic prospect who spent last year in A-ball, but he doesn’t project to have much in the way of power, therefore his upside is somewhat limited.

Frankly, I thought A-Gon would have cost the Red Sox considerably more in terms of talent.

So, with the parameters of the deal in place, the next step is for the Sox medical staff to review the medical reports on Gonzalez’ shoulder (which was operated on after the season finished).

If the reports check out, it’s a near-certainty the Red Sox will have a window in which to negotiate a long-term contract extension with Gonzalez before the trade gets finalized. (Guessing: seven years and $150 million?)

Look for the trade to become official early next week at the beginning of the winter meetings.

Read more MLB news on