Andrew Bailey will remain the Red Sox closer for now.

Red Sox manager John Farrell said as much on MLB Network Radio on Tuesday afternoon and Joel Hanrahan confirmed the news to reporters Tuesday evening. Bailey has posted a 1.46 ERA, 0.81 WHIP and 20/4 K/BB ratio in 12 1/3 innings of work this season. As long as he keeps pitching well, the Red Sox will keep rolling him out there in save situations. Bailey remains a must-own in fantasy leagues.

Red Sox manager John Farrell indicated on MLB Network Radio on Tuesday that Andrew Bailey is likely to keep the closer job despite Joel Hanrahan's return from the disabled list.

"He's active today," Farrell said in reference to Hanrahan. "Before announcing what his role is, when he comes to the ballpark we'll have a chance to sit down. ... The one thing Joel is, he's honest with himself, and he understands what's going on here." Hanrahan struggled before his hamstring injury while Bailey has thrived during his absence, so it's not surprising that he's thinking about sticking with the status quo. We wouldn't rule out Hanrahan getting the job back at some point, especially given Bailey's injury history.

Andrew Bailey struck out the side in the ninth Wednesday to pick up his fifth save for the Red Sox.

The Red Sox are riding Bailey's right arm, which seems like a dangerous strategy given his history. Today's appearance was his sixth in the last eight days. Perhaps the Red Sox will turn to Koji Uehara if another save chance presents itself Thursday.

Andrew Bailey recorded his first save of the season Wednesday, striking out a pair while retiring the Indians in order.

Bailey blew his first save chance Monday, but he bounced back nicely tonight, getting Cord Phelps to fly out to start the ninth before both Lonnie Chisenhall and Drew Stubbs went down swinging. Red Sox manager John Farrell said prior to the game that Joel Hanrahan (hamstring) wouldn't necessarily get the closer job back when he returns, so it's possible Bailey can run away with the job if he looks good over the next couple weeks.

Andrew Bailey blew a save Sunday, allowing one run on two hits in the ninth inning against the Rays.

Bailey entered to a one-run Red Sox lead then allowed a leadoff single to Desmond Jennings, who stole second base and scored on a game-tying hit by Ben Zobrist. Bailey rallied back to strike out Evan Longoria and Matt Joyce, then got Ryan Roberts to pop out. But the damage was done. Bailey is serving as Boston's fill-in closer while Joel Hanrahan nurses a sore hamstring.

Andrew Bailey is expected to vulture some saves while Joel Hanrahan recovers from a sore hamstring.

Hanrahan is likely to be out for most of this week and could even need a 15-day disabled list stint if the hammy doesn't improve. Bailey has allowed only one hit (and no runs) in 4 1/3 innings this season. He's an obvious must-own right now in standard fantasy leagues.

Andrew Bailey gave up two runs and three hits in his inning versus the Cardinals on Sunday.

Bailey has a lot to prove after failing to contribute in his first year with the Red Sox. Of course, whether or not he is successful is a lot less relevant to fantasy leaguers this season, as he's only being counted on as a setup man for Joel Hanrahan in Boston.

Red Sox and RHP Andrew Bailey avoided arbitration by agreeing to a one-year, $4.1 million contract.

It was the first time Bailey was eligible for arbitration, and he'll get a slight raise from the $3.9 million he earned a season ago. With the recent acquisition of Joel Hanrahan, Bailey will be thrust into a setup role in what's shaping up to be a spectacular Red Sox bullpen.

Andrew Bailey will begin some light throwing within the next week, and plans on heading to spring training as the Red Sox closer.

Bailey was limited to just 15 1/3 innings in 2012 after the long recovery from Tommy John surgery. The Red Sox are rumored to be open to trading Bailey this offseason, but assuming he remains with the club, he appears set to open the season as their closer.

According to ESPN's Buster Olney, the Red Sox are open to trading Andrew Bailey.

This would be an odd time to deal him, as Bailey's trade value is likely pretty low after he was limited to just 19 games this season due to a thumb injury. Odds are the Red Sox won't trade him unless they get blown away by an offer. Bailey made $3.9 million this season and is under team control through 2014.

Andrew Bailey rebounded from Thursday's implosion to pick up a save in a 2-1 game as the Red Sox edged the Orioles on Monday.

Bailey was more lucky than good. The Orioles would have tied the game on Jim Thome's shot to right had the ball not skipped over the low wall at Fenway Park, forcing Mark Reynolds to stop at third base. Bailey was able to get out of the jam from there, giving him six saves in eight opportunities.

Andrew Bailey imploded in the ninth inning on Thursday, surrendering five runs on four hits and a walk in just 1/3 of an inning.

He had been pitching fairly well since taking over the reigns of the closer's job, but took a major step backwards in this one. Four singles and a walk combined to plate three runs to tie the score and chase Bailey from the game. He left a pair of runner on base, who came around to score on BJ Upton's three-run walkoff homer. The brutal outing saw his ERA jump from 3.09 to 6.75 through his first 12 innings in Boston.

Andrew Bailey locked down his fifth save of the season in a victory over the Rays on Tuesday, issuing a walk and striking out one in his one inning of work.

He has now converted five of six save chances this season while posting a 3.09 ERA and 1.20 WHIP. Bailey will head into the 2013 season as a top option again at closer.

Red Sox activated RHP Andrew Bailey from the 60-day disabled list.

Bailey wound up missing over four months while recovering from reconstructive thumb surgery. He'll be eased back into major league action, starting with a few low-pressure relief appearances. Alfredo Aceves is still Boston's ninth-inning man for the time being.

The Red Sox are expected to activate Andrew Bailey (thumb) from the disabled list on Tuesday.

Andrew Bailey (thumb) could be activated from the disabled list early next week.

Bailey has allowed one run in five innings at three different levels of his minor league assignment and recently cleared the hurdle of pitching on back-to-back days. He'll make his next appearance Sunday and could join the Sox after that in a setup role to Alfredo Aceves.

Andrew Bailey (thumb) pitched a scoreless inning of relief Thursday in his second rehab appearance for Triple-A Pawtucket.

It's not clear whether this will affect his status, but Bailey has now pitched in back-to-back games, which is a major hurdle in most rehab programs. According to WEEI's Alex Speier, Bailey worked mostly in the low-90s, but touched 94 mph while featuring all of his pitches. The veteran reliever has allowed one run in five innings at three different levels of his minor league assignment, and is likely close to rejoining the Red Sox.

Andrew Bailey (thumb) is scheduled to pitch in back-to-back games with Triple-A Pawtucket on Wednesday and Thursday.

Bailey allowed one run on three hits Sunday in his first appearance in Triple-A. He still appears a little rusty, so he'll likely need a few more outings after Thursday before being activated. It's not clear if he'll pitch as a set-up man or closer upon his return.

Andrew Bailey (thumb) allowed one run on four hits Sunday in a rehab appearance at Double-A Portland.

Bailey came in for the seventh inning, and reportedly displayed improved velocity. While he's moving in the right direction, he's still likely at least a few weeks away from returning.

Andrew Bailey (thumb) will make his next rehab appearance Sunday with Double-A Portland.

Bailey is likely to use most, if not all, of the available 30 days before rejoining the Red Sox. His effectiveness coming back from a significant injury remains to be seen. According to the Boston Herald, Bailey reached 92 mph in his last outing, which is slightly lower than his average fastball velocity.