The Red Sox and Mike Lowell have finalized the 3-year $37.5 million deal that was agreed upon yesterday.

Lowell spoke with reporters during a conference call with Theo Epstein announcing the deal.

Mike Lowell“The tough part was searching between four years from other teams and three years with the Red Sox,” he said. “But I cannot say that I’m upset with the situation.

“How can you be upset with the money that I’m going to be making in the next three years? And with the team that I believe is going to compete for a world title.”

“I feel the fans have embraced me and I feel like I have embraced the fan base of Boston since Day 1.”

This is the same Lowell that most of Red Sox Nation wanted to trade when he was acquired with Josh Beckett from the Florida Marlins in late 2005. The core of the team is back and that can only be a good thing for the Red Sox as they look to defend their 2007 World Series championship.

You can catch the whole teleconference by clicking here.

Nick Cafardo from the Boston Globe also said in a chat today that the Red Sox have offered Mike Timlin a one-year deal but he didn’t know if it was a minor league or major league deal.