Varitek heads into his 13th major league season, all with the Red Sox, with a guaranteed $5 million for 2009 and a player option of $3 million or a team option of $5 million for 2010, two people familiar with the talks said, speaking on condition of anonymity because the agreement was not yet final.

That's quite a drop from the four-year, $40 million deal that ended after last season and less than he would have made had he accepted the team's offer of arbitration in early December.

But it was in keeping with the Red Sox strategy of conservative contracts while the New York Yankees went on a spending spree that amounted to $423.5 million in long-term deals for three free agents: first baseman Mark Teixiera ($22.5 million per year) and pitchers CC Sabathia ($23 million per year) and A.J. Burnett ($16.5 million per year).

The Red Sox handed out cheaper, one-year deals to pitchers John Smoltz ($5.5 million) and Brad Penny ($5 million) and outfielder Rocco Baldelli ($500,000). They also signed catcher Josh Bard, who made $2.2 million with San Diego last season, and reliever Takashi Saito, who was paid $2 million by the Los Angeles Dodgers last season.

The Red Sox traded outfielder Coco Crisp to Kansas City for reliever Ramon Ramirez. Crisp is due to make $5.75 million next season in a deal that includes an $8 million club option for 2010 with a $500,000 buyout. The Royals paid Ramirez $387,000 last season.

Also gone from Boston's payroll are Manny Ramirez, who was traded to the Dodgers last July, and Curt Schilling, who missed all of last season with a shoulder injury that required surgery.

Varitek came relatively cheap, in part because there was no great demand for his services after the worst offensive season of his career. If he plays under the player option, he could earn an additional $2 million in 2010 based on games started: $400,000 each for 80, 90, 100, 110 and 120 games.

He must take a physical before the agreement is completed.

Boston RedSox News News » Report: Varitek, Red Sox reach agreement
Report: Varitek, Red Sox reach agreement
BOSTON (AP) - The Boston Red Sox wrapped up their offseason bargain hunting Friday by reaching a preliminary agreement with catcher and captain Jason Varitek that pays him half as much in 2009 as he made last season. MLB Hot Stove