Four years and $36 million, ESPN reports.
I don't know what to think anymore. Unlike, say, Juan Pierre, Lugo's actually a good player, but I think the Red Sox are still pretty likely to regret this in a couple of years. The Sox needed a middle infielder and probably figured youngster Dustin Pedroia is better suited to second base than shortstop. That may be true, but it's a shame, because a good second baseman could be had on this market much more cheaply than a good shortstop - Ray Durham and Adam Kennedy have both already signed very reasonable deals.