Even before the Red Sox won the World Series in 2007, a great debate began over whether or not to re-sign Mike Lowell.

The veteran third baseman was in the last year of his contract in Boston that season, the same year he posted a career-best .324 average with 120 RBI. He hit .333 in both the ALDS and ALCS against the Angels and Indians respectively before posting a .400 average with one homer and four RBI against the Rockies in the World Series.

He was named MVP of the Fall Classic and as Lowell was receiving his trophy, thousands of Red Sox fans stood behind the visitor’s dugout at Coors Field on a beautiful October night and chanted, “Bring back Lowell! Bring back Lowell! Bring back Lowell!”

Red Sox general manager Theo Epstein re-signed the veteran to a three-year, $37.5-million contract. Even though Lowell was 33 at the time, there were plenty of clubs who were willing to give him a longer and possibly more lucrative deal. He didn’t want it. He took the proverbial hometown discount because he wanted to stay in Boston and wanted to win another World Series with the Red Sox.

With a new contract in his back pocket, it was unfortunate for both parties that the 2008 season was not a good one for Lowell. He dealt with a hip injury for much of the summer and it eventually cut his postseason short when he gracefully bowed out during the ALDS and opted for offseason surgery.

He had the procedure done so he would be able to return in time for spring training and be ready for Opening Day. As he began his rehab last winter, however, the Red Sox made it no secret they were aggressively pursuing then-free agent Mark Teixeira.

If the Sox were able to land the Gold Glove slugging first baseman, that would have made Lowell the odd-man out because Kevin Youkilis would have been shifted from first to third. That scenario never played itself out and Teixeira eventually signed with the Yankees.

Either way, the situation didn’t sit well with Lowell.

When he arrived at spring training a few days early, he made it no secret he was disappointed. After all, it was his decision to stay in Boston and he felt slighted by the fact Red Sox management was looking at different options. He learned that it doesn’t matter whether or not you have a career year and win the World Series MVP. In Boston it’s about what a player can do right now.

Epstein doesn’t manage with emotion. He runs the Red Sox by the numbers. If he has the opportunity to make the club better, and he obviously has the resources to do it, then he will do just that.

Just ask Johnny Damon and Pedro Martinez.

Lowell finds himself in a Groundhog Day situation once again this offseason. Epstein and the Sox are in need of another big bat in the lineup and there are a few slugging first baseman who fit that role — namely the Padres’ Adrian Gonzalez and the Tigers’ Miguel Cabrera. Because both are still under contract with their current teams, Epstein would have to pull off a trade and surrender a few top-notch prospects.

That leaves Lowell in limbo — again.

He was clearly disappointed with his limited playing time in the second half of the season after the club acquired catcher/first baseman Victor Martinez from the Indians at the trade deadline. Even though Lowell wasn’t happy, he didn’t wear his emotions on his sleeve. He is as professional as they come. He’s one of the more respected players in the game, especially within the Red Sox clubhouse.

Lowell turns 36 in February, and with a full offseason to allow his surgically repaired hip to heal, he could be just fine once the season starts. The 2010 season will be the final year of his current contract and he’ll earn $12 million this season.

It also wouldn’t be surprising if Lowell arrives at spring training completely healthy and produces in a big way for Boston next summer.

But make no mistake, Epstein will do whatever he can to make the club better.

Even if it means Lowell is the odd-man out.