ESPN’s Buster Olney is reporting that the Atlanta Braves have traded Derek Lowe to the Cleveland Indians. WKNR in Cleveland is reporting that the Indians parted with minor-league pitcher Chris Jones.

This is a salary dump by the Braves. Olney reports that the Braves will cover $10 million of Lowe’s 2012 salary of $15 million. So the Indians get an experienced starter for the bargain price of $5 million for next season.

Lowe didn’t have a great 2011 season in Atlanta as he went 9-17 with a 5.05 ERA. He’s also 38 years old. Yet Lowe eats up innings and his stats from 2005-2010 we excellent and then solid. The Indians have a strong pitching staff led by Justin Masterson and Ubaldo Jimenez, with Josh Tomlin and Fausto Carmona as well (the Tribe picked up Carmona’s 2012 option today for $7 million). But injuries have hurt their depth in the rotation, and Lowe gives them an experienced starter to add to the mix.