Although the exact terms of the agreement are not known, an article on ESPN.com stated that Wakefield will reportedly make $3.5 million in 2010 and $1.5 million in 2011, with incentives giving the righty a chance to bring the total value of the contract to $7 million.
The current deal replaces a $4 million-per-season team option the Red Sox had with Tim Wakefield. With Wakefield just out of the hospital recovering from back surgery, it's possible that this influenced the Red Sox's decision to go with the two-year pact.
Wakefield, 43, has 175 career victories with the Red Sox, just 17 shy of the team record of 192 shared by Cy Young and Roger Clemens. He has right-handed knuckleball pitcher for the Boston Red Sox since 1995, making him the longest-serving member of the team.
Tim Wakefield's back surgery is expected to be minimal and he is expected to be at full strength when Red Sox Spring Training begins.
Cheryl Phillips
HULIQ.com
source: MLB, ESPN, WEEI
image: Wikipedia