Jonathan Papelbon has reportedly signed a 4-year deal with the Philadelphia Phillies.

After failing to come to terms on a new deal with the less experienced Ryan Madson and agent Scott Boras, the Phillies tuned to Paps and a deal was finalized within days.

The terms of the deal are not clear yet, but it was reported that the Phillies had offered Madson something like 4 years and $40 million. If Papelbon sets the market wit ha similar deal, Boras will likely continue to as for a deal of that caliber, despite Madson’s single year of experience in the closer’s role.

Boston is now a logical landing spot for Madson, but the relationship between the Red Sox and Boras is cloudy at best with other experienced closers available, the Sox may attempt to spend less and use the money elsewhere.

Here’s a quick look at those other options, courtesy of MLB Trade Rumors:

Heath Bell (34) – Bell has converted 40+ saves in three straight seasons as the Padres closer. San Diego is the exact opposite of Boston, so the main question is: Can Bell handle the pressure? I think he can, and if he finds it difficult, he and fellow ex-Padre Adrian Gonzalez can bitch about ESPN and Sunday Night Baseball together…

All joking aside, he’s my pick.

Jonathan Broxton (28) – Broxton hasn’t pitched since May and that was an ugly May. He’s been a mess since posting 36 saves and 114 Ks in 73 appearances in 2009. Personally, I want nothing to do with Broxton, but he’s exactly the kind of guy the Sox have signed in recent years: Injury history, high upside, willing to take a 1-year deal with incentive to prove his worth…

I was hoping Ben would do the un-Theo-like thing and sign Paps… now I’m hoping he does the un-Theo-like thing and not sign Broxton.

Francisco Rodriguez (30) – K-Rod saved 23 games with the Mets before moving to Milwaukee where he set up for John Axford. He did well, earning 17 holds and posting a 1.86 ERA and fanning 33 in 28 innings. My guess is he wants to close again and I think he could handle the pressure here in Boston… but K-Rod is a likely to ask for $12-16 million per year and for that money, the Sox could have kept Paps.

If he’s willing to accept a deal like 3-year, $30 million deal (possibly with incentives)… I might put K-Rod ahead of Bell on my list.

Frank Francisco (32) – The Blue Jays took a shot with Francisco and he spent the first half of 2011 on the DL. He finished with 17 saves, a 3.55 ERA and 60 Ks over 52 innings. Not bad, and 9 of those saves came against AL East opponents…

Franky saved 25 games as a Ranger in 2009, but the ERA is always around 3.50 and he’s probably more of a setup man. Maybe the Sox could sign him as insurance and let Bard try his luck at closing…

Joe Nathan (37) – Nathan saved 14 games in 17 tries after Matt Capps failed to get the job done in the first half of 2011. With some hard work, he could get back to elite form and help the Sox in 2012… but this smells alot like John Smoltz and all those other “reclamation projects” we’ve seen lately. I say pass.

Other options: Jon Rauch (33), Matt Capps (28), Francisco Cordero (37), Chad Qualls (33), David Aardsma (29), Fernando Rodney (35)

Bottom Line: With Papelbon gone, who do you wan the Sox to go after?