Papi Gets an Extension

Boston Red Sox DH David Ortiz's received a four-year extension worth $52 million. The Sox will pay Ortiz a $2 million signing bonus payable in three installments this year and annual salaries of $12.5 million from 2007-10. The Red Sox get a $12.5 million option for 2011 with no buyout. The Sox owed Ortiz $8.4 million in 2007, before they exercised this option. In other words, the Sox granted Papi a three-year extension, covering ages 32-34, worth $43.6 million.

Date
Tue 04/11/06, 8:43 am EST