Red Sox Sign Josh Beckett to Extension

The Boston Red Sox have signed Josh Beckett to an extension. According to Gordon Edes of the Boston Globe the deal breaks down as follows:

$2 million signing bonus
$6 million salary for 2007
$9.5 million salary for 2008
$10.5 million salary for 2009

$12 million at club option for 2010. The option becomes automatic if Beckett makes 28 starts in 2009 or he has a total of 56 starts in 2008 and 2009.

There is also a $2 million buyout clause on the option to make the guaranteed total $30 million

As of today - these are Beckett's numbers for the season;

Beckett 2006 - 12-5, 4.78 ERA, 102 K, 40 BB

Beckett most likely would have won a salary in arbitration between $8-9 million next year which means his $6 million for 2007 (plus a pro-rated portion of the $2 million signing bonus) is a bit of a bargain. The $9.5 million for 2008 is also a bit of a bargain considering the going rate for starting pitchers. It should be noted that with the 2009 contract and 2010 option - the Red Sox will have control of Beckett's rights for as long as the Florida Marlins will have control over Hanley Ramirez. When the trade that brought Beckett to Boston was made - many people pointed out that this would be a loss for the Red Sox if they only kept Beckett for a short time. Now he's locked up for 5-years.

The new deal should be a confidence boost for Beckett (is it a coincidence that his best start happened after getting the deal done?). Another possible ramification of the deal will be the effect it could have on Curt Schilling coming back for another year in 2008. With Beckett signed as the number 2 - Schilling may feel compelled to continue to mentor the young Jedi Josh.

Couple of extra points:

- Don't lose track of the fact that Beckett is very young (only a couple of months older than Jonathan Papelbon).

- With the Red Sox getting a break on Beckett's contract for next year - it could make eating part (or most) of Matt Clement's deal easier to take.

- Beckett is tied for the league lead in wins with 12 but is not even in the top 10 in innings pitched. Beckett leads the AL in HR allowed (27) but evens that off a bit because he is 9th in K's (102). Beckett is a tough guy to figure out.