The Red Sox continue to bolster their bullpen depth, reportedly coming to terms with former Rays reliever Dan Wheeler on Saturday.

According to MLB Trade Rumors, Wheeler agreed to a one-year, $3 million deal, with a vesting option for a second if he surpasses the 65-appearance threshold. ESPN’s Gordon Edes was first to report.

Wheeler has a 3.84 career ERA, but for the past three seasons, the 33-year-old right-hander has had a 3.35 ERA and better with the Rays in the treacherous AL East. Wheeler also has some experience at closer and has notched 43 career saves.

Though Wheeler was a Type A free agent, Tampa Bay did not offer him arbitration or accept his $4 million option — instead buying him out for $1 million. Accordingly, the Rays will not receive compensatory draft picks.

For Wheeler, joining the Red Sox will be a homecoming. He was born in Providence and went to high school in Warwick, R.I.

He will, of course, be joined on the 2011 Red Sox by fellow former Ray Carl Crawford.