"David Ortiz' tenure with the Red Sox will last for at least one more season.

According to a source close to the slugging designated hitter, Ortiz intends to accept the Red Sox' offer of salary arbitration, a decision tantamount to signing a one-year contract extension worth more than his $12.5 million salary in 2011. Ortiz has been seeking a multiyear contract, but at this point, an agreement on a two- or three-year deal appears unlikely, the source said.

Earlier this evening, Red Sox general manager Ben Cherington said the club was awaiting Ortiz' decision before the deadline at 11:59 p.m. Wednesday night. Cherington wasn't certain if he would meet again tonight with Ortiz' agent, Fern Cuza, and said the team wasn't aware of any resolution to the situation."