4/5 14:53: Jon Heyman of Sports Illustrated adds that Beckett has a limited no trade clause to three teams, two of which can be chosen by him until he becomes a 10-5 player. Additionally Heyman says that by waiting until the season started, the Red Sox saved some money on the luxury tax.

4/5 11:51: Alex Speier of WEEI.com says that Beckett will get a $5 million signing bonus and annual salaries of $15.75 million from 2011-2014.

4/5 11:38: Jon Paul Morosi of FOX Sports says that there is no clause for club injury protection in Becektt’s contract.

4/5 10:38: Ian M Browne of MLB.com says that the Red Sox have announced a press conference for 3pm EST today to announce the contract extension for Josh Beckett for four-years, $68 million.

With this contract extension, the Red Sox will have Beckett, Jon Lester and John Lackey under club control through 2014.

Both sides have been working hard to complete a deal before the start of the season. The big hanging point between the Red Sox and Beckett is the fifth year. Beckett wants a fifth year, but the Sox are not willing to go more than four years – the reason being Beckett’s history of his frayed rotator cuff.

Beckett, 29, has compiled a lifetime 106-68 record with a 3.79 ERA. You can see Beckett’s contract history and statistics here.