Red Sox Sign Marco Scutaro

3:23pm:  The signing is now official, according to a team press release.  Interesting press conference note from Peter Abraham of the Boston Globe: he tweets that Scutaro said another team offered more money.

FRIDAY, 9:08am: ESPN's Buster Olney has the terms on Scutaro: $1MM signing bonus, $5MM in 2010, $5MM in 2011, and a 2012 option with a $6MM club option, $3MM player option, and $1.5MM buyout.  That makes it a two-year, $12.5MM deal – less than I thought he'd receive.

THURSDAY, 10:01pm:  The deal will include a mutual option for a third year, according to Michael Silverman of the Boston Herald (via Twitter).

9:46pm:  Price also reports that it is a two-year deal (via Twitter).  The signing will result in Toronto receiving a supplemental pick and Boston's first rounder (#29), provided that they do not sign a higher-ranking Type A free agent who was offered arbitration.

9:37pm: The Red Sox have agreed to terms with Scutaro, pending a physical, according to Ed Price of FanHouse.com (via Twitter).

9:26pm: A report from Venezuelan outlet Lider, passed along by Jorge Arangure of ESPN Deportes (via Twitter), claims that Scutaro has signed with the Red Sox.  However, there is no additional confirmation at this time.

4:39pm: ESPN's Jerry Crasnick reports that Scutaro worked out for the Red Sox near his home in Miami earlier this week. Special assistant to the GM Allard Baird was in attendance, and it's "believed the workout helped alleviate some concerns the Red Sox had over a heel injury that sidelined Scutaro for the final two weeks of the 2009 season."

11:05am: We know the Red Sox are considering other options, including Orlando Hudson, but Marco Scutaro still interests Theo Epstein & Co. Here's the latest on the shortstop:

• The Red Sox asked for Marco Scutaro's medical records, according to Venezuelan journalist Augusto Cardenas. Scutaro told Cardenas that he hasn't yet received a formal offer from Boston.
• It would be a surprise to see Scutaro accept the Jays' arbitration offer, but the club is prepated to re-position Scutaro in the outfield if he accepts, according to MLB.com's Jordan Bastian.  
• The Boston Herald reports that the Red Sox are interested in Jamey Carroll.