Ken Rosenthal reports that the trade of closer Joel Hanrahan to the Boston Red Sox is finally done.
News about the deal broke before Christmas, but it's still not clear who, besides Hanrahan, is in the deal. The Pirates will supposedly get OF/1B Jerry Sands, pitching prospect Stolmy Pimentel, and two other players, one of whom may or may not be reliever Mark Melancon. The Red Sox will supposedly get Hanrahan and one other players. That's based on reporting on the trade from before Christmas. We'll soon see if it's accurate.
The quality of the trade, from the Pirates' perspective, depends on who the other three players are. Sands is mildly interesting but contributes to a logjam of mildly-interesting players at the corner positions, while Pimentel is a throw-in. Melancon, whose underlying numbers are much more interesting than his awful six-plus ERA last season, would improve the deal considerably for the Pirates.
UPDATE: Melancon is evidently in the deal.