The Dodgers also received cash considerations, general manager Ned Colletti said, in a deal that was completed just before the 4 p.m. EDT deadline for making trades without waivers.
The Red Sox will pay the estimated $7 million owed to Ramirez through the end of the season, at which time he can become a free agent. Ramirez was in the final guaranteed year of an eight-year, $160 million contract, and the Red Sox held $20 million options for the next two seasons.
As part of the trade, the club options were eliminated.
So when all was said and done, the Dodgers picked up a summer rental they hope will give them a shot at improving upon a woeful postseason track record in the past 20 years. Since winning the 1988 World Series, they've made just four playoff appearances and won only one postseason game.
"We figured we had to do it," Colletti said before the Dodgers opened a four-game series against the Arizona Diamondbacks in a matchup of the NL West's top teams. "There was obviously a point in time that you have to make a major decision. We did and we were glad we did it. Hopefully it pays dividends. We're confident we've got one of the best hitters in baseball coming in here - one of the best hitters of his generation from the right side.
"He's a champion, he's a winner, and we really couldn't be happier with trying to make the club better at this point in time than to do this. We wanted this player at least for the next two months, and hopefully longer. So we're willing to take the chance and go with this guy."
In return, the Red Sox got the 29-year-old Bay, a two-time All-Star who was hitting .282 with 22 home runs and 64 RBIs for Pittsburgh. Tampa Bay pursued Bay before he wound up with the Red Sox, who trail the first-place Rays by three games in the AL East.
The last-place Pirates, looking for young talent, received reliever Craig Hansen and outfielder Brandon Moss from Boston and third baseman Andy LaRoche and pitcher Bryan Morris from the Dodgers. LaRoche, Moss and Hansen will join Pittsburgh, while Morris will go to Class A Hickory.
Colletti said he hadn't spoken with Ramirez as of late Thursday afternoon, but said he had been told by agent Scott Boras that the 12-time AL All-Star was "thrilled to be here."
"We expect him to be here tomorrow and most likely play," Colletti said.
As of early Thursday, it appeared Ramirez might be on his way to the Florida Marlins. But when those talks fizzled, the Red Sox and Pirates found a willing third partner in the Dodgers.
Colletti said Boston general manager Theo Epstein got in touch with him early Thursday.
"It really wasn't many hours at all," Colletti said. "Theo reached out to me in midmorning and wanted to gauge our interest, and I said, `You know what? We have an interest.' Then, we probably spent the next two-plus hours hammering it out. This wasn't on the board for very long."
Ramirez, the MVP of the 2004 World Series, remains one of baseball's best hitters and has enjoyed plenty of big moments in October. But his relationship with the Red Sox soured - again - in recent months.
So now, Manny can be Manny on the West Coast.
"Manny being Manny can also mean he'll hit a lot of home runs and drive in a lot of runs," Colletti said.
Dodgers infielder Nomar Garciaparra, who played for the Red Sox from 1996-2004, said he's always had the utmost respect for Ramirez, who helped Boston win another title last year.
"It's nice to see we've done something like this, to make a push for the next two months," Garciaparra said. "I think he'll be just fine. Manny is really a simple person. He works extremely hard. He just wants to play baseball and go home and be with his family. How can you not respect and love a guy like that?"
Even before landing Ramirez, Los Angeles had a crowded outfield. Dodgers manager Joe Torre has been juggling Matt Kemp, Andre Ethier, Andruw Jones and Juan Pierre.
"When a player like Manny becomes available, I don't think there's a manager in baseball who wouldn't say they're interested," said Torre, whose Yankees teams went toe-to-toe with Ramirez for years. "Manny's certainly not a simple personality, that's for sure. He's complex. But I've seen him when he competes."
The Dodgers, who began the dae future with their acquisitions.
Hansen, a 24-year-old right-hander, was 1-3 with two saves and a 5.58 ERA in 32 games. A first-round draft choice in 2005, he became the first Boston player to reach majors in the year he was picked.
LaRoche, the younger brother of Pirates first baseman Adam LaRoche, hit .203 with two home runs and six RBIs in 27 games for the Dodgers. A power-hitting prospect at 24, he spent most of this year at Triple-A Las Vegas.
Moss, also 24, split the season between Boston and Triple-A Pawtucket. He hit .295 with five doubles and two homers in 78 at-bats. Last year, he led the International League with 59 extra-base hits.
Morris, a 21-year-old right-hander, was 2-4 with a 3.20 ERA for Class A Great Lakes.
