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Source: David Ortiz agrees to one-year, $16 million extension with Red Sox

03.23.14 at 5:13 pm ET

FORT MYERS, Fla. — The Red Sox and David Ortiz have agreed to a one-year, $16 million extension for the designated hitter for 2015.

The deal also includes a club option for 2016 that could vest and pay Ortiz as much as $16 million.

UPDATE: The team announced that the deal includes a club/vesting option for 2016 and a club option for 2017.

‘€œWith this agreement, we have near certainty that David Ortiz will finish his career in a Red Sox uniform, which is something we have all wanted and that we are all proud of,’€ Red Sox principal owner John Henry said in a team-issued press release. ‘€œIt is difficult to describe David’€™s contributions to our city both on the field and off the field, and we are so proud to have this ambassador of our game with us as he continues on this road to Cooperstown.’€

Ortiz is in the final year of a two-year deal that will pay the 38-year-old a total of $30 million (after incentives). He hit .309 with a .395 OBP, .564 slugging mark, 30 homers and 103 RBI in 137 games in 2013. That strong regular season performance was the prelude to a standout postseason, culminating in a World Series in which Ortiz hit .688/.760/1.188 with two homers en route to World Series MVP honors. He now owns the best-ever World Series batting average (.455), on-base percentage (.576), and slugging percentage (.795) among players with at least 50 plate appearances in the Fall Classic.

The Red Sox announced the agreement late on Sunday night. A press conference with Ortiz, manager John Farrell and GM Ben Cherington will take place in Sarasota, prior to the Red Sox-Orioles exhibition game, on Monday.

The agreement was first reported by ESPNBoston.com.

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