Sox decline ‘Tek option, he exercises his

[UPDATE: Ladies and gentlemen, your 2010 backup catcher will be Jason Varitek. 'Tek exercised his option, and I for one am pleased he did. It'll likely keep him in Boston threads for his entire career, as well as give the club an option to make Varitek the personal catcher for Josh Beckett. $3 million is a bit steep for a backup catcher, but for Boston, it's worth it to keep Varitek.] [One more update: Hasn't happened yet, but... it will.]

Not a surprise: Jason Varitek’s $5 million club option for 2010 has been declined. As much as I may want ‘Tek back in a backup role for 2010, I wasn’t willing to commit $5 million to that role. Neither was Theo Epstein. The ball is in ‘Tek’s court now, and we’ll know by the end of the week whether he picks up his $3 million option.

If he doesn’t, he becomes a free agent who can negotiate with any team. Don’t rule out the Sawx offering ‘Tek arbitration, though: he’s a Type B free agent who would net the Sox a pick in the compensatory round (so no team directly loses its pick).

Wake Re-signed, Contract Re-Negotiated

According to Dan Roche of WBZ-TV, the Sox have re-signed Sox’ elder statesman Tim Wakefield to a two-year deal, guaranteeing the pitcher $3.5 million in 2010 and $1.5 million in 2011. MLB Trade Rumors, citing WEEI’s Rob Bradford, states that the deal could approach $7 million should the knuckleballer reach all his incentive landmarks.

This contract is a departure from past negotiations between the Sox and Wakefield, where the team held a renewable $4 million option on the pitcher’s services. The transaction demonstrates that the Red Sox brass have lost a modicum of confidence in Wakefield and his ailing back, as he recovers from his latest surgery and enters his age-44 season.

While it is discouraging that the team has lost enough faith in Wake to discontinue his $4 million option, the good news is that he will once again be donning the Boston red come April. Hopefully, he will be able to top his 129.2 inning total from 2009, which was his lowest single-season mark since his rookie season in 1992.

Given Wake’s effectiveness last season, the Sox can reasonably expect good production out of their aging starter. His 4.58 ERA and 4.58 FIP suggest a quality pitcher still remains, so long as he can stay out of the trainer’s room. However, his accumulating injuries suggest that he cannot be relied upon to consistently take the mound.

While it’s unfortunate that the Sox ended their previous arrangement with Wakefield, it is a good move for the team, as they can save a couple million here and there, allowing the team to spend money elsewhere. In addition, there is a very good chance that this is Wake’s final contract, so any leverage he gains by 2012 through performance and inflation will likely make little difference.

While $0.5 million this season and $2.5 million in 2010 may not seem like much, the money saved will go a long way toward keeping young talent around in arbitration and signing bench players to add depth.Even for teams with $100+ million payrolls, every penny counts.

All Aughts Team of the Decade 2B: Dustin Pedroia

You think the shortstop carousel we’ve had since 2004 is frustrating? What about second base? Since 1992, only Scott Fletcher (2) and Jose Offerman (3) have been considered full-time Red Sox second basemen that served more than one year in said capacity.

To suddenly end the decade with Dustin Pedroia manning the position for three years and having already captured a Rookie of the Year award, Silver Slugger, Gold Glove, MVP and World Series ring, then… well, it kind of makes it a no-brainer that Dustin Pedroia is our All Aughts Team of the Decade second baseman.