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According to ESPN's Jeff Passan, the Boston Red Sox are acquiring Eric Hosmer from the San Diego Padres.

Passan: "With Eric Hosmer out of the Juan Soto trade after rejecting a deal to Washington, the Boston Red Sox swooped in and will acquire him from San Diego, sources tell ESPN. The finances are unclear: Padres could pick up a chunk of money -- or could send along a prospect with Hosmer.  

Passan: "San Diego will be paying down a significant portion of the $44 million or so remaining on Eric Hosmer’s contract, per sources."

The Red Sox later confirmed the deal. 

Red Sox: "The #RedSox today acquired 1B Eric Hosmer, minor league INF Max Ferguson, minor league OF Corey Rosier, and cash considerations from the San Diego Padres, in exchange for minor league LHP Jay Groome."

Hosmer was an All-Star and a World Series Champion for the Kansas City Royals, and he has spent the last five seasons (counting this one) with San Diego. 

Currently, the Red Sox are a mediocre 52-52 in 104 games played this season.

However, the AL East has been so good that they are actually in last place in the division, and trail the New York Yankees by 18.0 games for first place. 

As for the Padres, they are 58-46 in 104 games, which has them in second place in the NL West.  

Earlier in the day, the Padres announced that they had traded for All-Star Juan Soto from the Washington Nationals (they also got first baseman Josh Bell).