Billy Wagner traded to Red Sox for two PTBNL [Updated]

Brad Como, news director for SNY, is reporting that the Mets have traded Billy Wagner to the Boston Red Sox for two players to be named later.

The Boston Globe is reporting that the Mets would likely get “two mid-range minor leaguers” in return for Wagner.

Jon Heyman reports that the Red Sox will pay the remainder of Wagner’s contract and the $1 million contract buyout.  Roughly $2.7 million remains on the contract.

The Red Sox have agreed to decline Wagner’s 2010 option, but will offer him salary arbitration in the off-season.  They would receive two draft picks as compensation if he signs elsewhere.

Bart Hubbuch tweets that the Mets will likely receive two Double-A level prospects.  The Red Sox Double-A team is the Portland Sea Dogs.  Take a look at their roster here.

More from the Boston Globe:

It is not expected that any more than one of the two players the Sox are giving up will come from the 40-man roster, and neither is considered an upper-tier prospect.

More details to come…