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Red Sox finalize contract terms with David Ortiz

The Boston Red Sox released the contract information of the deal with David Ortiz.

Jim Rogash

The Boston Red Sox officially announced the signing of free agent designated hitter/first baseman David Ortiz to a two-year extension worth $26 million on Monday afternoon.

Ortiz will receive $14 million in 2013 and $11 million in 2014 in addition to a $1 million signing bonus. The 37-year-old slugger can earn an additional $4 million over the life of the contract through performance based incentives. Reports of the signing broke on Friday night, with several outlets stating that the two sides had agreed to a two-year contract. The reported agreement came hours after the club extended Ortiz a qualifying offer, which would have given them draft pick compensation had he opted to sign somewhere else.

Ortiz has spent 10-years as a member of the Red Sox and is coming off a year where he played the fewest amount of games in a season since joining the club. Despite his struggles to stay healthy, the veteran still managed to produce 23 home runs, 60 RBI and a .318 batting average through 90 games played.