Pablo Sandoval's contract details with Red Sox revealed

The Boston Red Sox on Tuesday finalized their contract with free agent Pablo Sandoval, inking the third baseman for five years and $95 million, plus a club option for 2010. The club will introduce Sandoval at a 1 p.m. ET news conference.

To make room for Sandoval on the 40-man roster, Boston designated first baseman / catcher Ryan Lavarnway for assignment.

Sandoval's contract includes a $3 million signing bonus and salaries of $17 million in 2015, $17 million in 2016, $17 million in 2017, $18 million in 2018 and $18 million in 2019, per Nick Cafardo of the Boston Globe. The club option for 2020 is worth $17 million, with a $5 million buyout.

Sandoval, 28, also received offers from the San Diego Padres and his old team, the San Francisco Giants, with whom the third baseman made $8.25 million in 2014.

Sandoval played seven seasons in San Francisco, winning three World Series rings (2010, 2012, 2014) and making two All-Star teams (2011, 2012). He hit .294/.346/.465 with 106 home runs and 192 doubles in 869 games with the Giants, including .279/.324/.415 with 16 home runs and 26 doubles in 2014.