Boston Sports Then and Now

Theo is wasting no time tinkering with the Red Sox Roster

We’ve got a handful of things to talk about, following an eventful day initiated by Theo Epstein and company on Monday.

We’ll start with the captain. On Monday, the Red Sox declined the $5 million club option that remained on the contract signed by Jason Varitek this past offseason. However, still remaining is a $3 million player option, which Varitek can exercise himself and return to Boston no questions asked.

If and when Varitek exercises his $3 million option for 2010, he has performances bonuses in his contract that could potentially boost his 2010 earnings to $5 million.

On top of being guaranteed $3 million, the 37-year-old will receive $400,000 each for reaching the plateaus of 80, 90, 100, 110 and 120 games played. It’s only reasonable to assume that the most he could make would be in the $400-$800K range, if that.

I can almost promise you that Varitek will be with the Red Sox on Opening Day, maybe not starting, but definitely on the roster. There is absolutely no way that a catcher who hit .209 with a .313 OBP in 425 plate appearances could command more than $3 million with $2 million in incentives on the open market.

Now, if it’s not about the money and Varitek still believes that he can start somewhere, then he could always foolishly part ways with Boston. However, it has always been a priority for Varitek to remain in a Red Sox uniform, but for the first time in over a decade, it won’t be as the Red Sox’s starting catcher. Epstein has already expressed that Victor Martinez will be this team’s starting catcher, regardless of Varitek’s return or departure.

“There’s a school of thought that says [Varitek] would be better with a bit more

Will the Captain be talking the walk from the bullpen again?

rest. If he does pick up the option, there would be an opportunity to rest more next year with Victor catching more.”

While we’re on the subject of Martinez, the Red Sox also exercised his $7.1 million option for the 2010 season. This move was obviously a no-brainer, as Martinez was phenomenal for Boston after being acquired from the Cleveland Indians prior to the 4pm trade deadline on July 31.

In 56 games with Boston, Martinez batted .336 with 8 HR, 41 RBI and a .912 OPS. The switch-hitter spent 33 games behind home plate and 23 games at first base. In those 23 games at first base, Martinez was perfect defensively, making zero errors in 163 chances.

Bringing back Martinez for the small fee of $7.1 million is a bargain, considering FanGraphs has his 2009 production listed as being worth $21.9 million.

Among the other bargains of the day was the Red Sox declining the $4 million option on Tim Wakefield’s contract, and re-signing the veteran right-hander to a two-year, $5 million deal. Wakefield is guaranteed $3.5 million in 2010, which is a steal, considering that FanGraphs has his 2009 value at $8.5 million.

In 2011, Wakefield is guaranteed $1.5 million, but if he pitches 120 innings in 2010, his salary for the 2011 season bumps up to $2 million. If Wakefield hurls 160 innings in 2010, his paycheck will get knocked up to $3.5 million in 2011. His contract also rewards him various amounts of dollars based on the number of starts that he makes in both the ‘10 and ‘11 seasons. Essentially, his salary is in his own hands.

His new contract and job security with Boston should help ease his recovery process following his back surgery in October.

“I feel great,” Wakefield said. “I’m getting more strength in my calf and my hamstring. As a matter of fact, the doctor came in soon after surgery and I was doing laps around the nurses station with my wife with my IV without limping. It was that instantaneously. Dr. (Lawrence) Borges did a phenomenal job. He even said to me that he was surprised that I was pitching because the fragment they took out of my back was pretty big.”

With the Red Sox declining the $6 million option on Alex Gonzalez’s contract, while still having hopes of bringing him back for a cheaper price, the nickels and dimes that Boston has been saving over the past few days just may be part of the plan to bring a big contract on board.

Could it be Roy Halladay? Adrian Gonzalez with a restructured contract? Felix Hernandez? My guess is as good as yours, but it should make for an interesting winter. Keep it right here all winter long for your Hot Stove reading.

Jared Carrabis is a contributing blogger for Boston Sports Then and Now. Make sure to check out his site, Sox Space News and his latest book, One Fan’s Story: If This Hat Could Talk.