The Atlanta Braves have reportedly agreed to terms with right-hander Derek Lowe on a four-year contract.
The Atlanta Journal-Constitution is reporting that the deal is worth $60 million and will become finalized once Lowe takes a physical on Wednesday.
Lowe, who will be entering his 13th season, went 14-11 with a 3.24 earned run average last year, his fourth with the Los Angeles Dodgers. He also made three postseason starts last season, posting a record of 1-1 with a 3.31 ERA and 12 strikeouts to only three walks.
The 35-year-old Lowe, who earned $10 million in 2008, was particularly solid down the stretch, winning six of his last seven decisions for the NL West champion Dodgers.
Lowe has averaged 15 wins, 208 innings and nearly 34 starts over the past seven seasons. He is 126-107 lifetime with 85 saves and a 3.75 ERA in 533 games (255 starts) for the Seattle Mariners, Boston Red Sox and Dodgers.
Lowe has been solid in the postseason over the course of his career, going 5-5 with a save and a 3.33 ERA in 21 games (10 starts). However, he is 4-1 in his past eight playoff games.
During Boston's memorable 2004 World Series championship run, Lowe was 3-0 with a 1.86 ERA in four postseason games, with decisions in three series- clinching wins.
The news comes on the same day that long-time Braves right-hander John Smoltz officially signed with the Boston Red Sox.
In addition to Lowe, Atlanta also acquired right-hander Javier Vazquez earlier this offseason and is expected to announce the signing of Japanese right- hander Kenshin Kawakami on Tuesday.