The Boston Red Sox failed to sign Jon Lester and begin the transformation of their starting rotation. However, they're not out of luck because there still remain a number of free-agent and trade options out there. Here's a short list of possibilities:

Max Scherzer, Free Agent: It was reported on Tuesday that he wants a $200 million contract. If Boston wouldn't go over $135 million for Lester, this has no chance of going down. Just to clarify.

James Shields, Free Agent: This is perhaps Boston's best shot to rebound and improve their rotation. According to ESPN's Jim Bowden, Shields is projected to land a five-year, $100 million contract, which is well within their budget. They offered Lester six-years for $135 million, but they viewed him as the staff's ace. Do they view Shields, who will be 33 next season, as an ace? If not, are they willing to pay a No. 2 starter around $100 million? According to Bowden, the Red Sox weren't concerned with his poor postseason, and ESPN Boston's Gordon Edes says Shields' agent is expected to meet with Boston this week.

Cole Hamels, Philadelphia Phillies: Haven't we heard enough about this? Speculation has been ongoing since the trade deadline and now FOX Sports' Ken Rosenthal reports the Red Sox and Phillies are not currently close to deal. Phillies' general manager Ruben Amaro reportedly wants three top prospects in exchange for the left-hander, which is something a majority of teams would be hesitant to surrender. Nonetheless, this potential trade will probably be talked about for a while because the Phillies are obviously about to enter a rebuilding period and there's no reason for them to hang on to Hamels for another four years and $96 million.

Justin Masterson, Free Agent: The Red Sox reportedly offered him a multi-year deal in the past couple of days. Masterson was drafted by Boston and spent two seasons with the team before he was traded to the Cleveland Indians. After only two good seasons in five years with Cleveland, he was traded to the Cardinals in 2014 where he finished off a career-worst year. The right-hander has a number of suitors and received another offer from the Texas Rangers, so there's some competition.

Wade Miley, Arizona Diamondbacks: According to Bob Nightengale of USA Today, the D-Backs are listening to offers for Miley, who is in his first year of arbitration eligibility. The left-hander is due for a raise after an All-Star season in 2012 and a 38-35 record with a 3.79 ERA over the past four seasons with Arizona. Rosenthal mentions Boston could trade for Miley, but nothing has developed on that front.

Jordan Zimmermann and Doug Fister, Washington Nationals: These two right-handers were the best on Washington's staff in 2014, but as of right now they're both scheduled to become free agents after the 2015 season. As a result, the Nationals are entertaining potential offers, but it's said they would want a "strong return" for either of them. If the Red Sox can agree to a trade and receive a window to sign either of them to an extension, that might be worthwhile.

A number of other available free agents include Edinson Volquez, Ervin Santana, Brandon McCarthy, Kris Medlen, Brandon Beachy and Chris Young.