The Red Sox have exercised their 2009 option on 42-year old righty starting pitcher Tim Wakefield valued at $4 million bucks. Wakefield pitched in 30 games (all starts) for the Red Sox in 2008 and he was 10-11 with a 4.13 ERA and a 1.18 WHIP. Wakefield has now been a member of the Red Sox for 14 seasons in which he has pitched in 504 games (367 starts) and he is 164-145 with 22 saves, a 4.33 ERA and a 1.33 WHIP. Don’t expect Wakefield to be anything more than a #5 starter who eats innings for the Red Sox in 2009. Still, $4 million bucks is a bargain in a market where Jeff Suppan is worth $12 million bucks a season.