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07/31/09 4:01 PM ET

V-Mart to Red Sox details ironed out

Indians agree to deal catcher to Boston for three pitchers

CLEVELAND -- Saturday is scheduled to be Victor Martinez bobblehead night at Progressive Field, but Martinez won't be around to see it.

Martinez was the closest thing the Indians had to a team captain. Now, he's the latest deportee in a reloading period for the Tribe.

Shortly before Friday's 4 p.m. ET Trade Deadline, Martinez was traded to the Red Sox for Major League right-hander Justin Masterson and two prospects, left-hander Nick Hagadone and right-hander Bryan Price.

Masterson, 24, has spent all of 2009 with the Red Sox. He is 3-3 with a 4.50 ERA in 31 appearances, including six starts. While with Boston last year, he went 6-5 with a 3.16 ERA in 36 games, including nine starts. He also recorded an ERA of 1.86 in nine playoff appearances, which was a rookie record for a Red Sox player.

The Red Sox made Masterson the 71st overall selection in the 2006 Draft out of San Diego State. He is a native of Beaver Creek, Ohio. He was born in Jamaica.

Hagadone, 23, was a sandwich-round selection (55th overall) in 2007 out of the University of Washington. He entered the season as the Red Sox's No. 3 overall prospect, according to Baseball America. This season, he was at Class A Greenville, where he was 0-2 with a 2.52 ERA in 10 starts. South Atlantic League hitters were batting .149 off him, and he had struck out 11.5 batters per nine innings.

Hagadone missed much of 2008 following Tommy John surgery. That pushed his 2009 debut back to June 6.

The 22-year-old Price was also a sandwich-round pick (45th overall) in 2008 out of Rice. He's split this season between Class A Greenville of the South Atlantic League and Class A Salem of the Carolina League, where he's gone a combined 4-8 with a 4.67 ERA in 19 starts. He was 1-3 with a 3.83 ERA in 12 games, including nine starts, at short-season Lowell last year. He was named the 20th best prospect in the Boston organization by Baseball America.

When the Indians traded reigning Cy Young Award winner Cliff Lee to the Phillies on Wednesday, general manager Mark Shapiro explained that the club decided its slim chances of contending in 2010 would lead it to focus more on 2011 and beyond. The club held a $9 million option on Lee for next year and a $7.1 million on Martinez. That money is now cleared from the books for next year.

Martinez's 2010 option increases to $7.6 million as a result of the trade.

Anthony Castrovince is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.