Boston Red Sox, Manager Alex Cora Reportedly Agree to Multi-Year Contract Extension

Alex Cora entered 2024 on an expiring deal, but the Boston Red Sox have rewarded him with a multi-year contract extension with 62 games left in the regular season.

Jul 23, 2024; Denver, Colorado, USA; Boston Red Sox manager Alex Cora (13) celebrates a two-run home run scored by outfielder Tyler O'Neill (17) (not pictured) in the first inning against the Colorado Rockies at Coors Field. / Ron Chenoy-USA TODAY Sports

The Boston Red Sox and manager Alex Cora have agreed to a multi-year contract extension, MLB Network's Jon Heyman reported Wednesday afternoon.

ESPN's Jeff Passan and Buster Olney were first to report that Cora and the Red Sox were engaged in negotiations earlier on Wednesday. According to Heyman, the deal is currently being finalized.

Cora entered 2024 as a lame duck, with his current deal set to expire at the end of the year. He said in May that he didn't plan on discussing his contract openly during the season, leading many to believe he would hit the open market.

After what happened with Craig Counsell and the Milwaukee Brewers last fall, Cora becoming a free agent could have driven his price through the roof. It also could have led to him joining another club, potentially even rivals like the Los Angeles Dodgers or New York Yankees.

Olney later added that the contract being discussed was worth in the range of $21.75 million over three years. Heyman corroborated that report, claiming that the agreement was for $7 million-plus over three years.

That would give Cora the second-highest annual salary of any manager in the league, surpassed only by Counsell's five-year, $40 million contract with the Chicago Cubs.

Alex Cora and the Red Sox are in agreement at $7M-plus per year over 3 years. Just finalizing the deal now.

— Jon Heyman (@JonHeyman) July 24, 2024

Cora initially joined the Red Sox ahead of the 2018 campaign. In his first year at the helm, he led Boston to a franchise-record 108 wins and their ninth World Series championship.

After missing the postseason by 12.0 games in 2019, Cora was suspended for all of 2020 due to his role in the Houston Astros' sign-stealing scandal. The Red Sox welcomed Cora back on a new deal in 2021, immediately returned to the ALCS, then picked up the two option years on his contract for 2023 and 2024.

The next two seasons didn't go as smoothly for Cora, however, as Boston finished 2022 and 2023 with identical 78-84 records. Cora's seat was heating up accordingly heading into 2024 and ownership did not settle his contract situation before the season began.

Cora has helped the Red Sox get back on their feet this year, leading the team to a 54-46 record. A four-game losing streak coming out of the All-Star break bumped Boston out of an AL Wild Card spot, but the team is still just 1.0 game back of the Kansas City Royals with 62 games left on the slate.

The Red Sox own the best record in MLB since May 19 at 32-22. Their pitching staff ranks sixth in ERA on the season, while their lineup ranks fourth in both batting average and OPS.

Back in Feburary, the 48-year-old Cora told reporters he would not be managing 10 years from now. As a result, it remains to be seen if he plans on staying in Boston past the extension he has reportedly signed.

Cora recently moved into fourth place on the Red Sox's all-time managerial wins leaderboard. If he does come back for 2025 and beyond, he is sure to pass Mike Higgins for third and trail only Joe Cronin and Terry Francona.

With a 494-416 career record to his name, Cora should become the 13th active manager to reach 500 wins within the next week or two.

Cora played 14 seasons in the big leagues from 1998 to 2011 – including seven with the Dodgers and four with the Red Sox – before he became the bench coach in Houston and the manager in Boston. He racked up 828 hits and a 7.0 WAR before calling it quits, serving as a key player on the Red Sox's 2007 World Series team.

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