The Boston Red Sox on Wednesday reached a three-year contract extension with Alex Cora through the 2027 season that will make him the second highest-paid manager in MLB.
The deal to end his lame-duck status will keep him in Boston for a total of $21.75 million, sources told ESPN.
Cora, 48, has helped shepherd the Red Sox to a surprising 54-47 record through Wednesday. Boston trails Kansas City (56-46) by 1.5 games for the final American League wild-card spot prior to the Royals' game Wednesday night.
"I had a tremendous amount of respect for Alex long before I took this job; that respect has only grown these last several months," Red Sox chief baseball officer Craig Breslow said in a statement. "He is an incredible people connector, something I have enjoyed watching firsthand. He has embraced Boston's passionate fans and we share a desire to win as much as they do, both in 2024 and in the future.
"I'm happy to be able to extend our commitment to Alex, and I look forward to our partnership continuing to grow."
Cora's deal had set to expire after this season, his sixth as Red Sox manager.
"What this organization means to us is the world," Cora said Wednesday. "They trusted me from day one, they doubled down on me in '21 after everything that happened in '17. There were a lot of conversations in the offseason, and I just want to be happy and comfortable."
Coming off back-to-back 78-84 seasons and last-place finishes in the American League East, the Red Sox have thrived despite carrying their lowest Opening Day payroll in a decade at just over $170 million. The steady production of star third baseman Rafael Devers and emergence of center fielder Jarren Duran and starter Tanner Houck have thrust the Red Sox into the playoff picture, and with a core of young position players nearing the big leagues, Boston's future is on the upswing.
Whether that future would include Cora was a question that has hung over the organization all season. Regarded as one of the game's best managers, Cora has left Boston before -- after he was fired prior to the 2020 season following the revelation of his prominent role in the Houston Astros' 2017 sign-stealing scheme.
Boston re-hired Cora in 2021, turning back to the manager who had won a World Series with the Red Sox in his first season as manager in 2018. The Red Sox made a surprising run to the ALCS in 2021 but the team has been turned over almost entirely since then, and their two big free agent signings -- shortstop Trevor Story and outfielder Masataka Yoshida -- have been injured and disappointing, respectively.
The deal keeps Cora from hitting free agency a year after Craig Counsell's contract with the Milwaukee Brewers expired and he joined the Chicago Cubs on a five-year, $40 million contract.
Cora said in March he didn't expect talks on an extension to continue during the season. But he said Wednesday discussions had been ongoing recently with Breslow.
"Sometimes I put an act on for (the media)," Cora said with a chuckle. "I was actually telling the truth. We've been talking for a few weeks and the relationship between me and Craig has grown the last six, seventh months."
Cora said his family is happy living in Boston.
"I promise you, this decision was more based on the comfort of my family than my professional career," he said.
Information from The Associated Press was used in this report.