MONDAY, 2:07pm: WEEI's Alex Speier spoke to Lester, who said there is currently no contract extension agreement with the Red Sox.
SUNDAY, 12:42pm: Jeff Passan of Yahoo! Sports is reporting the Red Sox have signed Jon Lester to a five-year, $30MM extension. The contract includes a $13MM team option for 2014.
Along with Kevin Youkilis and Dustin Pedroia, this makes Lester the third long term contract handed out to homegrown talent in three months. Passan writes,
"The impending deal is the largest given to a pitcher with around two years of service time, doubling the four-year, $15 million deal Cleveland’s Fausto Carmona signed at the beginning of last season. If the Red Sox exercise the option, they will have kept Lester off the free-agent market for two years."
Lester will take a physical on Tuesday to finalize the deal.