Mariners and Miguel Olivo agree to two-year, $7 million deal

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Seattle has signed catcher Miguel Olivo to a two-year, $7 million contract with a team option for 2013, according to Jon Paul Morosi of FOXSports.com.

Last month the Blue Jays acquired Olivo from the Rockies for a player to be named later, declined his $2.6 million option for 2011, and then offered him arbitration, which means Toronto will receive a compensatory draft pick for losing a Type B free agent who never actually played for them.

Pretty nifty move from general manager Alex Anthopoulos, who saw the value in holding Olivo’s rights even when the Rockies didn’t. Seattle handing $7 million to Olivo is also intriguing, because Jack Zduriencik is viewed as a stat-friendly general manager who places a premium on getting on base and Olivo has consistently posted one of the worst on-base percentages in baseball.

Olivo got on base at a .315 clip this year, which is both significantly below the MLB average and by far the best mark of his career. In fact, it’s only time his OBP has cracked .300. He brings plenty of power to the table, smacking 14 homers in 427 at-bats this year and 20 homers per 550 at-bats for his career, and Olivo also does a good job controlling the running game, but it’s still an odd fit.

Braves sign reliever Will Smith to three-year, $39 million contract

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The Braves announced on Thursday that the club has inked lefty reliever Will Smith to a three-year, $39 million contract with a club option for the 2023 season worth $13 million. Smith received a qualifying offer worth $17.8 million from the Giants, so he opted for a lower average annual value for a longer contract.

Smith, 30, was an All-Star last season with the Giants, finishing with 34 saves, a 2.76 ERA, and a 96/21 K/BB ratio across 65 1/3 innings. Across parts of seven seasons in the majors, he has a 3.53 ERA.

Smith, the top free agent left-handed reliever, will join a strong Braves bullpen which already includes Mark Melancon, Shane Greene, and Sean Newcomb.