Schilling's deal with Red Sox worth $8M plus incentives

Curt Schilling and the Boston Red Sox finalized a one-year contract Tuesday worth about $8 million in base salary and millions more in potential incentives.

The deal is pending Schilling, who turns 41 in November, passing a physical exam. The agreement was first reported by ESPN The Magazine's Buster Olney. The Red Sox announced the deal Tuesday afternoon, but did not disclose Schilling's salary.

The deal contains $3 million in performance bonuses based on innings pitched and $2 million in weight clauses. On his blog Tuesday, Schilling wrote that bonuses are tied to six seperate weigh-ins.

"I inserted the weigh in clause in the 2nd round of offers, counter offers," Schilling wrote on 38pitches.com. "Given the mistakes I made last winter and into Spring Training I needed to show them I recognized that, and understood the importance of it. Being overweight and out of shape are two different things.

Schilling said on his blog he felt "comfortable" that he would finish his career in Boston with a one-year contract. He also posted the letter that team president Larry Lucchino and general manager Theo Epstein sent him before opening negotiations with him in November 2003.

"There is no other place in baseball where you can have as great of an impact on a franchise, as great an impact on a region, as great an impact on baseball history, as you can in Boston. It is hard to describe what the Red Sox mean to New England," the letter said. "We are so close to the goal that has eluded us for 86 years."

In 2004, Schilling went 21-6 and helped lead the Red Sox to their first World Series title since 1918. His velocity diminished, Schilling was 9-8 during the regular season this year, then went 3-0 in four starts during the playoffs to improve his postseason record to 11-2.

After the Red Sox declined to give him an extension, Schilling said in February that he would become a free agent after the season. He said then he would return for Boston in 2008 for $13 million, the same salary he earned in 2007.

While he wanted to stay, he also was ready in case he had to change teams.

"We've prepared the kids that we may be moving again," his wife, Shonda, said last weekend.