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Josh Beckett, Red Sox Agree to Four-Year Extension

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BOSTON - APRIL 04: Josh Beckett #19 of the Boston Red Sox pitches in the second inning against the New York Yankees on Opening Night at Fenway Park on April 4, 2010 in Boston, Massachusetts. (Photo by Jim Rogash/Getty Images)
BOSTON - APRIL 04: Josh Beckett #19 of the Boston Red Sox pitches in the second inning against the New York Yankees on Opening Night at Fenway Park on April 4, 2010 in Boston, Massachusetts. (Photo by Jim Rogash/Getty Images)
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Josh Beckett and the Red Sox have reportedly agreed on a four-year contract extension worth $68 million, according to the Boston Globe.

A press conference is scheduled for 3 p.m.

No -- the press conference is not to announce Beckett has been cut after last night's poor performance. Instead, he'll be getting a new contract worth right in the same range as John Lackey's deal he signed over the offseason.

As of now, I'm liking this deal for the Red Sox. There won't be a lot of quality arms entering the market, so Theo Epstein is making sure to lock up one of the most consistent ones in baseball when he can. This is cheaper than any deal the Sox could have locked with Beckett on the open market, considering the lack of pitching to be available.