Report: Red Sox agree to 5-year, $110M contract with Martinez

After a long offseason dance, the Boston Red Sox and J.D. Martinez reportedly came to terms Monday, agreeing to a five-year, $110-million contract, according to Jon Morosi of MLB Network.

The deal reportedly contains a pair of opt-outs for the star outfielder/designated hitter, one of which is available to Martinez after two years and $50 million, according to Jon Heyman of FanRag Sports.

The Arizona Diamondbacks were the other suitor linked to the 30-year-old slugger. Martinez spent the second half of 2017 with the Diamondbacks, setting a franchise record with 16 home runs in September.

Between the Detroit Tigers and Diamondbacks last year, Martinez slashed .303/.376/.690 with 45 home runs over 119 games.

The deal is likely to push the Red Sox above the first luxury tax threshold. They're already entering the 2018 campaign with $205.5 million in projected salary commitments. Under the CBA ratified last winter, the first luxury tax penalties occur at a payroll of $197 million for the 2018 season, with the penalty increasing at $217 million and $237 million.