7:09pm: According to Sean McAdam of the Boston Herald the contract's worth at least $41.25MM. Youkilis gets a $1MM signing bonus, $6MM in 2009, $9MM in 2010 and $12MM in 2011 and 2012. After four years, the Red Sox have the option of buying Youkilis out for $1.25MM or paying him about $14MM to play another season.
5:25pm: Tony Massarotti of the Boston Globe adds an important detail; the deal includes a club option for a fifth year at $13MM. It's still unclear whether it includes any buyouts.
3:06pm: According to ESPN's Peter Gammons, the Red Sox and Kevin Youkilis agreed to a four-year deal worth more than $40MM. There's also a fifth year option. The deal buys out two arbitration years and two free agent years. The Boston Globe's Amalie Benjamin says the deal is close but not likely to be finished today.
Youkilis, 30 in March, hit .312/.390/.569 in 621 plate appearances in '08 while playing above-average defense at first base. He finished third in the AL MVP vote. Youkilis' teammate Dustin Pedroia received $34MM for the same slice of his career ($40.5MM in total).
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