Manny Ramirez is in the final year of his guaranteed contract. The club holds options for both 2009 and 2010 season. Though Manny may be acting nonchalantly about it, claiming that its up to the Red Sox if they want him or not, he has repeatedly dropped hints that he wants to finish his career in a Red Sox uniform. If not, he'll just play elsewhere next year. Yeah, he can do that-- for a lot less money, though.
Let's be honest. The current management has never really liked Manny. He's a holdover from the previous regime; and his commitment and work ethic have often come under question. The club has tried to trade him repeatedly, but his hefty contract was a nonstarter. And it may be a nonstarter for the Red Sox at the end of the season as well. Though I don't have Manny's numbers in front of me, he is overvalued. Manny will need to have a monster season if he wants the Red Sox to exercise his option.
I don't think Manny will be signed, but, then again, I never thought the Red Sox would re-sign Curt Schilling, who the Red Sox knew had a bum shoulder.