WEDNESDAY, 10:00am: The Rays officially announced Maddon's three-year extension.
TUESDAY, 4:04pm: Maddon will earn approximately $2MM per season under his new contract, Nick Cafardo of the Boston Globe tweets.
11:13am: The Rays have agreed to a three-year contract extension with manager Joe Maddon, Marc Topkin of the Tampa Bay Times tweets. Maddon's contract had been set to expire after 2012, and the sides had been working on an extended agreement over the course of the offseason. An announcement is expected tomorrow, according to Topkin.
Maddon, the 2011 American League Manager of the Year, has managed the Rays to three playoff berths in the past four seasons, including an AL pennant in 2008. In six years under the 57-year-old Maddon, the Rays have a 495-477 record.