All of the pieces have fallen into place. With the avoidance of arbitration on two of his most exciting talents, Jacoby Ellsbury and Jonathan Papelbon, Theo Epstein has assembled a World Series caliber team for the Red Sox this offseason. 2010 was bleak for the BoSox: they finished in third place in the AL East for the first time since 2006, behind both the Tampa Bay Rays and the New York Yankees. With today’s contracts inked for Ellsbury and for Papelbon, Epstein has completed a roster capable of winning and winning big.

These signings come at the tail end of a very busy offseason which has led to a very different looking Sox squad in 2011. Adrian Beltre is gone and Adrian Gonzalez has replaced him. The electric Carl Crawford will be starting in left field, while catcher Victor Martinez has departed for Detroit. Kevin Youkilis will be asked to cross the diamond and play third base, and the bullpen has gotten some help in the form of Bobby Jenks and Dan Wheeler.

Papelbon’s new contract is listed at the huge price-tag of $12M. He is statistically one of the best relievers and furthermore, best closers in baseball. But the addition of Jenks was largely reported to give the Sox wiggle room in terms of dealing with their oft-troubled and outspoken closer. Daniel Bard has long been thought the suitor to the Papelbon throne, but Jenks even gives Bard competition. It will be interesting to note the revolving door of potential closers throughout the first half of the season, culminating perhaps in a trade of one of these three men.

Ellsbury’s contract is far more modest than Papelbon’s. At $2.4M, the young center fielder is a cost effective option. He hits for average, runs down fly balls easily and steals bases at a great clip. Ellbury is speedy, almost to a fault: he in fact holds the Boston all time single season steal record. Sometimes his speed comes at a cost, however, as Ellsbury sat sidelined for most of the 2010 campaign due to cracked ribs he sustained in a collision with last year’s Red Sox third baseman Beltre, after both men pursued a fly ball.

Ellsbury’s season last year suffered fits and starts, allowing for young, hopeful outfielders to get into the everyday lineup for the Sox. Darnell McDonald was among those young outfielders and he remains a candidate for a fourth, or fifth (behind Mike Cameron) outfielder spot in the spring. In that way Ellsbury’s injuries were good for the Sox. Outfield depth is no longer at a premium, and instead McDonald, as well as the highly touted prospect Ryan Kalish, remain at the ready should the Sox need another man to deal with caroms off of the Monster.

Of course this is not to be short sighted of the new acquisition of Crawford in left field or of Gonzalez at first base for Boston. There has, however, been written enough about these men, and about the Epstein offseason as a whole. The only thing left to the Red Sox offseason now is to wait for Opening Day. All of the puzzle pieces are there. Now it is simply time for Manager Terry Francona to head down to Fort Meyers and straighten them out.