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The Globe's Nick Cafardo is reporting that Red Sox are close to signing both Rocco Baldelli and John Smoltz. Deals could be finalized as early as this week:

"Sources indicated last night that Smoltz was leaning toward Boston's offer, which was said to be in the vicinity of $5.5 million guaranteed, with the opportunity to earn up to $10 million with incentives. The Sox and Smoltz have been talking since before the winter meetings. One of the incentives being discussed would be a roster bonus if Smoltz is with the team by June 1."

Bottom Line: When Theo inked Bartolo Colon to a contract last offseason, I had my doubts, but the El Gordo won four games for the Sox early in the year when the Sox needed a starter. Things went to hell shortly thereafter and then Bartolo disappeared... but I don't see John Smoltz sneaking off to a tropical island in the middle of the night with a sack of cheese burgers hung over his shoulder...

What I like most about the Smoltz signing is that he could help the Sox both as a starter or out of the bullpen. He's four years removed from closing, but I'm sure he could handle a middle relief role if asked.

Check back for updates later this week.