Boston Red Sox general manager Theo Epstein, left, looks on as newly signed Red Sox shortstop Marco Scutaro(notes) displays a Red Sox uniform during a news conference at Fenway Park, in Boston, Friday, Dec. 4, 2009. After cycling through seven shortstops since the middle of the 2004 season, the Red Sox announced on Friday that they have given Scutaro a two-year deal with a club option for 2012 - AP Photo

There’s this shortstop that’s been on my mind
All the time, Scutaro oh oh
Now he doesn’t know my name
But I think he likes Boston just the same
Scutaro oh oh
With regards to Phil Collins

Late Thursday night, we learned the Boston Red Sox and Marco Scutaro had reached a preliminary agreement on a two year deal. On Friday afternoon, they made it official.

It’s a two year deal worth $12.5 million with a mutual option for 2012.

According to Buster Olney of via his Twitter, Scutaro will get $12.5 million guaranteed over the two years. He gets a signing bonus of $1 million and salaries of $5 million in 2010 and 2011. The Red Sox hold a $6 million team option for 2012. If the Red Sox decided to decline that option then Scutaro could exercise a $3 million player option or receive a buyout of $1.5 million.

The question that now remains is what will the Red Sox do with Jed Lowrie?