The 27-year-old Betts is coming off a season in which he hit.295/.391/.524 and finished eighth in American League MVP voting.
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Red Sox chief baseball officer Chaim Bloom traded Betts and Price to get Boston's payroll under the luxury tax threshold for 2020.
Betts, a free agent after the season, repeatedly turned down contract extension offers from the Red Sox and is expected to command a massive contract in the offseason. He won the 2018 MVP, hitting.346/.438/.640 during the Red Sox's championship-winning season.
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Betts - a four-time All-Star, four-time Gold Glove Award victor and three-time Silver Slugger - tallied 29 home runs, 135 runs and 176 hits after 597 at-bats with an 80 RBI last season.
He is owed $96 million over the next three years. He also topped the AL in batting average and slugging percentage in 2018.
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The Ringer's Michael Baumann argues it'd be understandable if Betts played for a small-market team that simply couldn't afford to keep him around, but the Red Sox don't fall into that category. Verdugo, an outfielder entering his second year in Major League Baseball. Just in the previous year, Los Angeles has added Jalen Ramsey, Kawhi Leonard, Paul George and Anthony Davis - and now Betts. His career record is 47-35 with a 3.87 ERA in 137 games (103 starts). In 18 minor league games at three levels a year ago, he went a combined 7-0 with one save and a 1.92 ERA in 18 games (11 starts).