The Boston Red Sox have signed slugger David Ortiz to a four-year, $52 million contract extension today. Had Ortiz not signed the new deal, he would have been eligible for free agency at the end of the 2007 season.
The new contract includes a $2 million signing bonus payable in three installments this year while keeping Ortiz's 2006 salary the same. Now, he will earn annual salaries of $12.5 million from 2007-10. The Red Sox get a $12.5 million option for 2011 with no buyout.
'I’m proud to be a Red Sox player,' Ortiz told reporters. 'We had a long talk about myself staying here in Boston. What can I say? I want to finish my career as a Red Sox player. I'm going to be around for a while. I'm pretty sure New England is going to take this as good news.'
Red Sox GM Theo Epstein was thrilled with the signing. 'I can't think of a player who contributes in so many ways,' Epstein said. 'He's a guy with a smile on his face. He sets the right mood for the team in our clubhouse. ... It was just an easy decision for us [to offer Ortiz the extension].'
Epstein explained that if his contract expired, Ortiz would have had many options 'that would have made it difficult for him to stay in Boston.'
Ortiz was the runner up for the AL MVP award last year when he hit a career high 47 home runs and compiled a league leading 148 RBIs. He is also considered a leader in the Boston club house.
Thus far this season, 'Big Papi' is hitting .292 with one home run and four RBIs in six games.
Ortiz joined the Red Sox in 2003, coming over from the Twins organization. He and Manny Ramirez have combined to form one of baseball's most lethal batting combinations.
