OXON HILL, Md. — The Boston Red Sox have exercised the 2018 option on manager John Farrell's contract.

President of baseball operations Dave Dombrowski announced the decision Monday during Major League Baseball's winter meetings.

Farrell won the World Series in his first season with the Red Sox in 2013 and led them back to the playoffs last season. He's 339-309 in four seasons in Boston.

Dombrowski said Farrell has "done a real fine job" and that extending the manager's deal gives the Red Sox some stability on their staff going into spring training. He said there wasn't any special timing about announcing it now, noting it didn't have to be exercised until after the 2017 season.

Farrell said he appreciated the confidence from Dombrowski, who inherited him as manager.