The Red Sox find themselves in an enviable position. Enviable, and yet incredibly difficult.

For the first time since 1918, they are the defending World Champions of baseball. The Curse, the drought, the seemingly endless run of disappointment is over. New England has finally gotten caught up on sleep, and the heady days of October are fading into a warm and fuzzy memory.

Now what? That is the question the team, and its fans, are asking. The Sox knew they needed a lot of things to come together to win a World Series in 2004, and the moon and stars did, indeed, align. Now, management has to keep this championship team from exploding and disintegrating before our very eyes.

The rumors have already started: Manny Ramirez to the Mets; Trot Nixon to the A’s. And those are just potential trades. The free agent signings (or non-signings) are even more mind boggling. Do you let Pedro Martinez go? Jason Varitek?

Martinez, Varitek, Derek Lowe and Orlando Cabrera have been dubbed the Big Four, the main concerns on the mind of Theo Epstein. There’s virtually no chance we’ll see all four back in Boston next year, but we could see anywhere from one to three of them return. Or none.

The Sox want Pedro back, but at what price? That’s the question all of baseball is asking right now. It’s safe to assume they would offer him three years at Curt Schilling money, say $12-$13 million a year. It would be surprising if they offer more money a year, or a longer contract.

All things being equal, Pedro will come back, but it’s hard to gauge whether or not things will be equal. There have already been reports out of New York saying George Steinbrenner is interested in signing Pedro. If the market gets too high, say four years at $15 million a year, the Red Sox might pass.

Varitek appears to be Boston’s highest priority. He’s also the number one priority to fans. This week, a Boston.com poll asked which free agent should be the top concern of Red Sox management, and Tek garnered more than 70 percent of the vote.

Again, it will come down to the market. If Varitek can get four years at $10 million a year from another team (hello, Los Angeles), he’ll be gone. The Sox won’t match that kind of money. If he’s willing to sign for a little less, there could be a deal to be made.

Make no mistake, both pitcher and catcher will test the free agent waters. Both feel the Sox had a chance to sign them before this season and didn’t. Both are free agents for the first time, and they will want to see what kind of riches could be had.

Orlando Cabrera is an interesting case. Remember, he was making $6 million this year, and it’s unlikely he’s expecting a pay cut. He quickly became a fan favorite, and truly loved playing at Fenway. Nonetheless, the Sox feel Portland’s Hanley Ramirez is the top prospect in the system, and are excited about last year’s top pick, shortstop Dustin Pedroia. Will they be willing to tie up big money for an extended contract if the feel Hanley Ramirez is a year away?

As for Derek Lowe, roll back those great innings from Game 4 in St. Louis. D-Lowe has played his last game with the Red Sox. Despite an outstanding postseason, he is moving on to greener pastures. He increased his free agent value tremendously by winning the crucial, clinching games of all three postseason series. Wish him luck in Baltimore, Detroit, or Atlanta.

There are plenty of big names who could come to town: Carl Pavano, Brad Radke, Edgar Renteria, Mike Matheny to name a few. That’s a discussion for another day. For now, it’s time to ponder the immediate future of the first championship baseball team of our lifetime.

Lewiston native Tom Caron is a NESN sports analyst for Red Sox and Bruins telecasts.