Now that the unnamed team to the south of here has won the World Series, free agency will kick off in Major League Baseball and the real offseason can finally begin.

Obviously the big thing on the plate of the Boston Red Sox is getting Jason Bay under contract. He will most likely file for free agency today. As with all free agents and their respective clubs, the Red Sox can negotiate exclusively with Bay for fifteen days. He is allowed to talk with other teams but cannot have discussions which involve financial terms. Just a general discussion if you will.

The Red Sox will also have to make a decision on Jason Varitek. We’ve already learned that the Red Sox will exercise the option on the contract of Victor Martinez and he’ll be the guy going forward. The Red Sox hold a $5 million team option on Tek while he holds a $3 million player option with incentives.

Another big decision will be whether or not to exercise the option on the contract of shortstop Alex Gonzalez. It’s a mutual option for $6 million with a $500K buyout. The Red Sox will probably look at the health of Jed Lowrie before making that decision.

I will do my best to follow all of the Red Sox offseason action to keep everyone informed. I’ll add my opinion in as well from time to time.

So for now, Happy Free Agency Day or as I’m going to call it this year, welcome to the start of Bay Watch.

Bay Watch