Good lord, this is a great deal. 4/40 with a $13 club option for 2013. (Reports actually say it's not a "done deal", but there are only letters to dot and cross.)
There were early discussions of a deal back in mid-December. Then about a week later, Yook's agent made it clear that he and the Red Sox were far apart in their initial extension discussions.
It's hard to say what happened in the three weeks since that statement -- because they could not have been that far apart if they agreed in 10 per. I'm sure Teixeira signing with New York pushed the Sox to continue talking and a shitty US economy (for the near future) likely did not escape Yook's mind.
Youkilis, who turns 30 in March, may have had his career year in 2008. Maybe not. Either way, this news almost seems lop-sided in Boston's favour. And Youkilis is set for life and will likely have a solid shot at the playoffs every year of his career. Everyone is (or should be) very happy.