Gonzalez gets a $6MM signing bonus, $21MM per year from 2012-16 and $21.5MM in 2017 and 2018, according to ESPN.com's Buster Olney (Twitter links). The contract includes a partial no-trade clause, according to Olney. Gonzalez can block deals to two teams, according to Ken Rosenthal of FOX Sports (Twitter link). Those teams are prohibited from acquiring Gonzalez and flipping him to the Yankees.
It's the second nine-figure contract the Red Sox have agreed to since December (Carl Crawford signed for $142MM) and the second-biggest guarantee in franchise history. Only Manny Ramirez ($160MM, eight years) signed for more guaranteed money.
The Red Sox progressed toward an agreement with Gonzalez's agent, John Boggs, after acquiring the first baseman from the Padres in a December trade. The sides didn't finalize a deal and talks continued earlier in the spring. As Alex Speier of WEEI.com pointed out in December, the Red Sox may have waited to announce the deal because they save on the luxury tax by waiting.
Gonzalez underwent shoulder surgery in October, so the delay also gave Boston time to evaluate his health. The 28-year-old has a .268/.362/.439 line in 41 plate appearances so far, though his career line is a more robust .284/.368/.506.
The extension means Gonzalez won't hit free agency after the season, when Albert Pujols and Prince Fielder are expected to test the open market for the first time in their respective careers. Ryan Howard, who signed an extension with the Phillies last April, would have been eligible after 2011 as well.