Nov 19, 2007 1:21 PM EST

Mike Lowell and the Boston Red Sox are on the verge of finalizing a three-year, $37.5 million deal, ESPN The Magazine's Buster Olney reports.

Lowell followed a superlative regular season -- career highs in batting average (.324) and RBIs (120) to go with 21 home runs in 154 games -- with an outstanding October. In Boston's four-game sweep of Colorado, Lowell hit .400 (6-for-15) with four RBIs, three walks and a team-high six runs in winning the World Series.

He homered, doubled and scored twice in the Game 4 clincher at Denver's Coors Field en route to being named the World Series' MVP.

Via ESPN