Talk of a Betts trade have been circulating all winter, with the Dodgers and San Diego Padres as the rumored frontrunners for the 27-year-old all-star. He will be eligible for free agency after the 2020 season and the Red Sox had yet to lock him into a deal.
Betts spent his first six MLB seasons with the Red Sox; four as an All-Star. He was the 2018 American League MVP.
Price, a five-time All-Star, finished the 2019 season with a 4.28 ERA, the worst of his career. He is still owed $96 million over the next three years.
The reported deal, which would get the Red Sox under the league's luxury tax threshold, is pending medical reviews. The team will, reportedly, get three minor leaguers in the transaction.