Report: Red Sox offered Jon Lester a four-year extension worth $70 million

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We already knew that the Red Sox and left-hander Jon Lester tabled extension talks at the end of spring training, but now we have some details about the negotiations. And it doesn’t bode well for his chances of staying in Boston.

FOX Sports’ Ken Rosenthal reports that Boston’s most recent offer to Lester was a four-year deal worth $70 million. This confirms reports from Rob Bradford of WEEI.com and Jeff Passan of Yahoo Sports. That’s an AAV (average annual value) of $17.5 million. Lester has expressed a desire to stay in Boston and take a hometown discount, but that sounds awfully low.

According to Rosenthal, Lester rejected the offer and will not resume negotiations until after the season. Given the lucrative market for starting pitching, the Red Sox will likely have to significantly improve their offer in order to keep him from testing the free agent market.

Lester is coming off a bounceback year and owns a 2.57 ERA through three starts this season. He turns 31 next January.