Red Sox Pick Up Option On Martinez, Decline On Varitek

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BOSTON (AP) -- The Red Sox have exercised their $7.7 million option on Victor Martinez and declined options on Jason Varitek and Alex Gonzalez.

They also agreed to a $5 million, two-year contract with 43-year-old knuckleballer Tim Wakefield, replacing a perpetual $4 million annual club option.

The moves on the options were expected after Boston obtained Martinez from the Cleveland Indians on July 31 and he replaced Varitek as the starting catcher. The club option for Varitek was worth $5 million, but he can stay with the team if he exercises his $3 million player option.

The Red Sox also could try to keep Gonzalez at shortstop for less than the $6 million option. He receives a $500,000 buyout.