As reported by Dan Lefort on Boston.com, the Red Sox have acquired Eric Gagne from the Texas Rangers in exchange for Kason Gabbard, David Murphy and Engel Beltre minutes before today’s 4PM deadline.

Gagne dominated the National League from 2002-2004, saving 152 games, highlighted by a 1.20 ERA and 0.69 WHIP in 2003. In 2007 he has rebounded from the elbow problems that have plagued him since, posting a 2.16 ERA and 1.05 WHIP in 33.1 IP.

This deal can only be described as “masterful.” The three players swapped for Gagne are, repectively, a fourth starter, fourth outfielder, and a seventeen-year-old. Beltre (.728 OPS in GCL) certainly has the most potential, but a lot can happen before he’s ready in five years. Clearly, Sox GM Theo Epstein was able to read the market for Gagne and wait until the Rangers were ready to come to terms.

The depth in the starting rotation for 2007 has narrowed, but the health of Jon Lester and Curt Schilling was the tipping point for this team before Gabbard enters the picture. With a playoff appearance all but guaranteed, the postseason innings Gagne pitches will get the Sox closer to the Ultimate Goal than some August garbage innings by Gabbard.

The Red Sox pen has morphed from a weakness in the spring to a strength at the break - and now appears to be a dominant force. Teams brag about shortening games to eight innings with a good closer, now Sox opponents will have 21 outs before the big boys at the end of the pen. Wise words are often repeated - there is no such thing as too much pitching.