The Boston Globe is reporting that Francona is guaranteed to earn an average of $4 million per year through the three guaranteed years of his new contract (2009-10-11).  The deal has mutual options for 2012 and 2013 that must be decided upon following the 2011 season.  Unless Francona totally tanks over the next couple years, or he pulls a Tony LaRussa and is found passed out slash intoxicated in his car on the shoulder of Storrow Drive, this deal will likely keep him in a Sox cap (and jersey, thanks to the "uniform police" at Yankee Stadium last year) for the next 6 seasons.  Tito's ability to manage the team to 2 World Series titles in 4 seasons was certainly a key factor here, as the Sox recognized his managerial talents by including a $250K incentive that will come into effect every year the Sox make it to the World Series.  As I said before, if there's any manager in the game that deserves a little job security, it's Terry Francona.  To conclude, here's what Tito had to say on the whole shebang:

I want to thank the Red Sox ownership and management for their tremendous support.  From the resources provided by the ownership group and front office to a great collection of players and the passion and loyalty of the fans, there is no doubt that Boston is the best place to manage in the major leagues. I look forward to being in a Red Sox uniform for many years to come.