Rangers bring Colby Lewis back on minor league deal

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The Rangers announced this afternoon that they have re-signed right-hander Colby Lewis to a minor league contract with an invitation to major league spring training. Richard Durrett of ESPN Dallas reports that he’d make $2 million if he makes the Rangers and could earn an addition $4 million with incentives.

Lewis hasn’t thrown a pitch in the majors since July 18, 2012, after which he required surgery to repair a torn flexor tendon in his elbow. The 34-year-old encountered multiple setbacks while attempting to rehab this year and was ultimately shut down to undergo season-ending hip surgery.

Lewis posted a 3.93 ERA and averaged 8.1 K/9 and 2.4 BB/9 in 80 starts from 2010-2012, so this is a low-risk/high-reward situation for Texas. He’s far from a guarantee to be healthy and effective in the spring, but the Rangers could have the option to keep Alexi Ogando in the bullpen if Lewis locks down a rotation spot.

Giants sign Austin Jackson to two-year, $6 million contract

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The Giants announced on Monday night the signing of outfielder Austin Jackson. According to Jon Heyman of FanRag Sports, it’s a two-year, $6 million deal with performance incentives that allow Jackson to earn up to an additional $2.5 million for a total of $8.5 million.

Jackson, who soon turns 31 years old, spent last season with the Indians. In 318 plate appearances, he hit .318/.387/.482 with seven home runs, 35 RBI, and 46 runs scored.

The Giants have been on the hunt for a center fielder and Jackson addresses that need relatively cheaply. Jackson will join Hunter Pence and newcomer Andrew McCutchen in the outfield.