Red Sox’s hopes for Jacoby Ellsbury extension getting more expensive with every homer

During a radio interview this morning general manager Theo Epstein noted that the Red Sox unsuccessfully tried to work out a long-term contract extension with Jacoby Ellsbury in the past and would still like to do so, but the center fielder’s price tag is rising rapidly.

Here’s what Epstein said on the Dennis and Callahan Show:

This isn’t the right forum to talk about it. Those conversations are always behind closed doors. But I guess it’s not a secret we sat down and tried in the past to do that, lock Jacoby up, and I hope we’ll sit down in the future again and try to do it once more at the appropriate time. He’s somebody we’ve long believed in, we’ve long seen as a core young member of the organization that we would love to keep around.

Ellsbury is earning $2.4 million in his first season of arbitration eligibility and will be under team control in 2012 and 2013, so there’s no rush to get something done. On the other hand, he’s bounced back from an injury wrecked 2010 to hit .316 with 15 homers in 95 games after totaling 20 homers in his first 349 games, which along with having Scott Boras as an agent guarantees Ellsbury will be looking to break the bank.

Plus, as Rob Bradford of WEEI.com points out Boras has typically tried to avoid letting his clients give up free agent years as part of contract extensions, so even if the Red Sox are willing to meet his rising asking price that may not even be an option. Quite a bit different than just a year ago, when Ellsbury hit .192 and was limited to 18 games by injuries.