Well, at least for one more year.

The Sox announced Monday that they had agreed to terms with Jenks on a one-year, $5.6 million contract, avoiding arbitration. While it wasn't the multiyear deal Jenks was hoping for, it was the highest salary ever handed out to a closer in his first year of arbitration eligibility.

Jenks, 27, went 3-1 with 30 saves, a 2.63 ERA and 38 strikeouts in 57 appearances in 2008. He ranked sixth in the American League in save percentage (.882, 30-for-34) and eighth in saves while becoming the first Sox pitcher to earn 30 or more saves in three consecutive seasons. Through four seasons with the Sox, Jenks is 10-11 with 117 saves, a 3.09 ERA and 224 strikeouts in 222 appearances.

His name was in the headlines in early December as the subject of trade rumors with the New York Mets and Milwaukee Brewers. Some speculated that the Sox were looking to move Jenks because his velocity has dropped each season, but Williams and pitching coach Don Cooper went out of their way to put such speculation to rest.

''[Jenks] doesn't throw 100 mph anymore, so what?'' Williams said. ''The short story is he's one of the best closers in the game.''

The Sox have two potential hard-throwing closers in Jhonny Nunez and Aaron Poreda, but neither is battle-tested.

''What's not to like about [Jenks]?'' Cooper said. ''He's not out there trying to win kewpie dolls. The strikeouts are down because no one wants to be 0-2 against him.''

Claimed off waivers from the Los Angeles Angels in December 2004, Jenks is a two-time All-Star selection and saved the final game of the 2005 World Series, becoming the first rookie to do so since the Los Angeles Dodgers' Larry Sherry in 1959. He was the Sox' last remaining arbitration-eligible player.

NOTES: Reliever Kevin Gregg and the Cubs agreed Monday to a one-year, $4.2 million contract that avoided arbitration. Gregg, 30, was 7-8 with 29 saves and a 3.41 ERA in 72 appearances for the Florida Marlins last season. The Cubs acquired him in November for right-hander Jose Ceda.

- Four Sox players -- pitchers John Danks and Matt Thornton, catcher A.J. Pierzynski and outfielder Carlos Quentin -- and two Cubs -- pitcher Ted Lilly and first baseman Derrek Lee -- were named to the provisional 43-man U.S. roster for the World Baseball Classic. The final roster of 28 will be announced Feb. 24.