UPDATE AT 7:23 P.M. -- David Ortiz has reached agreement with the Red Sox on a two-year, 26 million contract with incentives that could raise the value of the deal to 30 million.
The sides reached agreement on Friday night and was confirmed by a source with direct knowledge of the situation.
Ortiz attended the Celtics' home opener at TD Garden Friday night and received a standing ovation from the crowd at halftime.
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UPDATE AT 6:46 P.M. -- The Red Sox and David Ortiz are nearing agreement on a two-year contract, with the deal possibly being finalized tonight.
A source with knowledge of the negotiations confirmed that the sides are "close", but added it's not yet complete. The contract is expected to be for two years, in the neighborhood of 28 million.
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BOSTON -- As fully anticipated, the Red Sox extended a qualifying offer to prospective free agent David Ortiz Friday night, ensuring that, at the very least, the Sox will get a compensation pick should Ortiz sign elsewhere.
The offer -- which is standard across the board, regardless of 2012 performance or any other factor -- is worth 13.3 million, or the average of the top 20 percent of highest-paid players in game last season.
Ortiz has until next Friday to accept or decline. If he accepts, he agrees to play 2013 for that 13.3 million figure. If he declines, he can still negotiate with the Red Sox.
Should the Sox lose Ortiz to another team, they will receive a sandwich pick after the first round.
Ortiz is set to become eligible for free agency at 12:01 Saturday morning, after which he can begin negotiations with teams other than the Red Sox.
The Red Sox and Ortiz's representative, Fernando Cuza, have been talking about a two-year deal since the season ended and, according to a source, have gotten closer to deal in the last two days.
Ortiz is said to be looking for an increase in his guaranteed base salary of 14.575 million from 2012, meaning a two-year deal would exceed 30 million.
By contrast, the Sox, given that they are providing Ortiz the security of a two-year deal that he has sought for some time, have been offering less.
Ortiz got a boost in his negotiating leverage when it was reported Thursday night that the Texas Rangers view Ortiz as a free-agent target. Texas views Ortiz as a potential replacement for its own free agent, outfielder Josh Hamilton, in that Ortiz could give the Rangers power production from the left side should Hamilton sign elsewhere.
News of the Rangers' interest in Ortiz was first reported by FoxSports.com
The Red Sox didn't make qualifying offers to any of their other free agents: Cody Ross; Scott Podsednik; Daisuke Matsuzaka; Aaron Cook; James Loney, and Vicente Padilla.