The Red Sox general manager asserted on Thursday morning that the team will spend money and take advantage of its large payroll, according to WEEI.com.
"I know that we'll have a very strong payroll, a large payroll," Cherington said in an interview with WEEI. "I know that we're going to add to it this winter. I'm confident in saying that it will be amongst the larger payrolls in the game."
Since the Red Sox had a payroll of about $173 million in 2012 and dumped several expensive contracts and players like Adrian Gonzalez, Carl Crawford and Josh Beckett back in August, Cherington will have a lot of spending money this offseason.
But that doesn't mean he'll only keep his eye on the elite, more expensive free agents, like Josh Hamilton and Zack Greinke.
"We've met with several agents of all the higher-profile or prominent [free agents], and some lesser, lower-profile free agents," he added in the interview. "So, it's just really part of due diligence, trying to find out, get more information as to what guys are looking for and how it might fit in to what we're doing."
The Red Sox finished with just 69 wins in 2012, and the team needs to fill empty positions, including first base and at least one of the corner outfield positions, as well as add to the starting rotation that struggled last season.
For the Red Sox to be competitive again in 2013, Cherington knows he'll have to empty his deep pockets and spend his money wisely.
"Now is the time that we try to hone in on the guys that make the most sense for us." He concluded, "We're going to do it in a way that we feel makes the most sense for us -- and not just in 2013 but moving forward."