Ramirez will also make a $1 million commitment to the Dodgers Dream Foundation as part of the deal.

"Manny can bring joy and happiness to lots of people in LA," McCourt said. "And I'm going to tell you, he makes me happy. He brings a smile to my face. We had a lot of laughs in the last few days."

The left fielder was believed to be seeking a four- or five-year deal that would take him through the end of his career. He turns 37 in May.

But Ramirez found it tough going in a recession-plagued free agent market, with the Dodgers the only team to acknowledge pursuing the 12-time All-Star.

Los Angeles announced last week that Ramirez declined its latest offer, a $25 million, one-year contract with a $20 million player option for 2010. That deal would have included deferred payments of $10 million each in 2011 and 2012 and $5 million in 2013.

Boras countered with a proposal that included no deferred money, leaving the sides about $3 million apart in present-day value.

At the time the Dodgers acquired him from Boston, Ramirez's contract was amended to eliminate the $20 million team options it included for 2009 and 2010. The new agreement leaves him with a small increase but likely fell short of what Ramirez hoped to gain on the free-agent market.

With his new deal in hand, Ramirez shrugged off questions about why he couldn't land a longer contract. He said he was happier in Los Angeles than in Boston, where his failure to run hard to first base on grounders generated criticism.

"Hey, I made my money already," Ramirez said. "I'm in a happy place, where I wanted to be. Actually, I won. I won getting out of there, because I'm in a great place.

"Sometimes it's better off to have a two-year deal in a place that you're going to be happy than have an eight-year deal in a place that you're going to suffer," he said.

Los Angeles Dodgers News News » Manny all smiles as he returns to Dodgers
Manny all smiles as he returns to Dodgers
PHOENIX (AP) - Manny Ramirez clambered up the stairs to a rooftop patio jammed with reporters, team employees and television cameras. More Manny