Lowell, Red Sox Agree To $37.5 Million, 3-Year Deal

BOSTON (AP) World Series MVP Mike Lowell is staying with the Boston Red Sox, meaning Major League Baseball's reigning champions will try to repeat with all their key players from 2007. <br/><br/>The

Monday, November 19th 2007, 6:34 pm

By: News On 6

BOSTON (AP) World Series MVP Mike Lowell is staying with the Boston Red Sox, meaning Major League Baseball's reigning champions will try to repeat with all their key players from 2007.

The Red Sox and their popular third baseman reached a preliminary agreement Monday on a three-year, $37.5 million contract, according to two people familiar with the negotiations who spoke on condition of anonymity because the deal had not been finalized.

While the sides have reached the outline of the deal, there are still minor issues to be worked out and as of Monday evening there still was not a signed letter of agreement between the team and Lowell's agents. Team spokesman John Blake declined comment.

In the three weeks since winning their second championship in four seasons, the Red Sox have re-signed their two biggest free agents, Lowell and pitcher Curt Schilling, and picked up options on Tim Wakefield and Julian Tavarez.

Lowell, a 33-year-old third baseman who made $9 million this season, was seeking four guaranteed years and might have gotten it elsewhere.

``How cool is that? Leaving years and dollars on the table to come back here for three more years, good stuff,'' Schilling wrote on his blog, 38pitches.com. ``Congrats to Mike and I've already spoken with a few guys on the team and suffice to say we're all'' ecstatic.

Boston's remaining free agents are backups, middle relievers and injured starting pitcher Matt Clement.