In mid-December, Boston signed SS-R Edgar Renteria to a four-year, $40M contract that includes a $3M buyout on an $11M option for 2009. In addition to a $4M signing bonus, the contract sets his salaries at $7M in 2005, $8M in 2006, and $9M in 2007 as well as 2008.

While Renteria has demonstrated excellent plate discipline during his career, he allowed his walk rate to slip in 2004. Likewise, although he owns useful speed, his stolen base percentages indicate he does not always choose his opportunities wisely. The 29-year-old possesses modest power, but currently hits too many ground balls to qualify as a true power hitter. Moving his home base from Busch Stadium to Fenway Park should aid his production. However, I am concerned that he's developing a substantial platoon split in which he dominates left-handed pitching and experiences difficulties against righties. Consequently, I harbor doubts as to which of Renteria's skills will surface during this contract, though he owns the skills to be a star for the Red Sox over the course of this deal. Of the three major shortstops who were on the market this off-season, Renteria is the youngest and lacks the injury history of SS-R Nomar Garciaparra and SS-R Orlando Cabrera.

Yesterday, Boston re-signed C-S Jason Varitek. Varitek also received a four-year, $40M contract. The Red Sox reportedly will spread the payment of his $4M signing bonus over the four years of the contract while he will receive a base salary of $9M each season. In order to sidestep the fact that several of Boston's other players have clauses in their contracts that grant them matching no-trade rights to those extended to anyone on the Red Sox, Boston instituted a new policy that gives no-trade rights to any player who spends eight continuous years with the team. I believe Varitek will reach that milestone in September of 2005. However, none of his teammates can reach that mark within their current contracts. Tim Wakefield currently qualifies, but he already possessed five and ten rights.

Varitek possesses solid plate discipline, substantial power, and useful speed. Furthermore the 32-year-old's injury history is clear of problems, so he should be able to continue catching throughout the length of this contract, particularly with C-R Doug Mirabelli available to handle Wakefield's knuckleball every fifth start. I believe the Red Sox should be pleased with this contract and applaud the team for at least showing loyalty in this instance, despite their willingness to let Pedro Martinez walk and their participation in trade talks regarding Manny Ramirez. Boston took the additional step of appointing Varitek captain, making him only the third team captain in the history of the organization and the first since Jim Rice, who followed Carl Yastrzemski.

The Red Sox re-signed Mirabelli to a two-year, $3M contract in late November. Mirabelli also possesses solid plate discipline and substantial power. The 34-year-old easily could have stepped up as Boston's starting catcher, if the Red Sox had chosen to allow Varitek to depart. Given that Boston chose to retain Varitek, Mirabelli will continue to catch Tim Wakefield's knuckleball while serving as Varitek's back-up, insuring the Red Sox a quality replacement in case of injury to Varitek.

Earlier this week, Boston signed Matt Clement to a three-year, $25.5M contract. The deal sets his base salaries at $6.5M in 2005 and $9.5M in 2006 as well as 2007. Additionally, the Red Sox provided numerous incentives in the contract. Clement will receive a $25,000 bonus for his 31st start each season, $50,000 for his 32nd start, $75,000 for his 33rd, and $100,000 for his 34th. Following his 200th inning pitched each season, he will receive a $50,000 bonus, $100,000 for 210 IP, $150,000 for 220 IP and $200,000 for 230 IP. An appointment to the All-Star team is worth $250,000 and a Cy Young win is worth $2M.

I expect Clement to help maintain the high level of effectiveness Boston's established for their rotation. He is a strikeout pitcher who does a solid job of keeping the ball on the ground when it's put in play. However, with regards to his control, Clement has room for improvement, so he relies on his strikeouts and his defense to limit his hit rate and therefore his total baserunners. The 30-year-old does not bring any known health problems into this contract.

The Red Sox signed David Wells to a two-year, $8M contract in mid-December. In addition to a $3M signing bonus, the contract sets his base salary at $2.5M in both 2005 and 2006. The deal includes an additional $5M each season in potential bonuses.