The Red Sox and Josh Beckett are getting closer to agreeing on an extension, ESPN's Buster Olney reports.

A source close to Beckett has confirmed that the two parties are closing in on a deal that could be completed in the next week or two, according to Olney.

The source also said that Beckett has a guaranteed four-year offer from Boston on the table. The deal could total $65 million to $70 million.

Earlier this spring, reports surfaced that Beckett was seeking a similar deal to the one John Lackey signed this offseason with Boston ($16.5 million over five years), but according to ESPN.com's Gordon Edes, the team will not offer the 29-year-old righty a fifth year.

Beckett is 65-34 with a 3.46 ERA in four years with the Red Sox. Last season, he notched 17 wins, a 3.86 ERA , and a career-high 212 1/3 innings pitched.