The Red Sox and their popular third baseman reached a preliminary agreement Monday on a three-year, $37.5 million contract.
Since winning their second title in four seasons, the Red Sox have re-signed their two biggest free agents, Lowell and pitcher Curt Schilling , and picked up options on Tim Wakefield and Julian Tavarez .
The four-time All-Star batted .400 (6-for-15) during Boston's Series sweep of the Colorado Rockies.
TRADE: The White Sox traded right-hander Jon Garland to the Los Angeles Angels for shortstop Orlando Cabrera .
Garland, 28, an 18-game winner in 2005 and 2006, was 10-13 with a 4.23 ERA last season.
Cabrera, 33, batted .301 with 35 doubles, eight home runs, 86 RBI and a career-high 101 runs with the Angels last year. He also won his second Gold Glove.
YANKEES: Mariano Rivera told New York he's accepting a $45 million, three-year offer.
The closer, who will turn 38 on Nov. 29, gets an average salary more than $4 million above what any other reliever currently makes.
PADRES: Finalized a $10 million, one-year contract with 41-year-old Greg Maddux .
The right-hander has 347 wins, four Cy Young Awards and a record 17 Gold Glove awards.
METS: Completed a deal with Luis Castillo , securing an everyday second baseman.
Castillo finalized a $25 million, four-year contract with the Mets, who acquired him from Minnesota on July 30.