Twins set to sign Mike Pelfrey for $4 million

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CBSSports.com’s Jon Heyman is reporting that the Twins and Mike Pelfrey have come to terms on a one-year deal worth $4 million.

The deal includes $1.5 million in incentives for the rehabbing right-hander.

The soon-to-be 29-year-old Pelfrey had a 2.29 ERA in three starts for the Mets last season before undergoing Tommy John surgery. He went 15-9 with a 3.66 ERA in 2010, but he slipped to 7-13 with a 4.74 ERA in 2011. The Mets non-tendered him earlier this month rather than pay him $5 million-$6 million in arbitration.

Once healthy, Pelfrey will join fellow National League imports Vance Worley and Kevin Correia in a rotation that has just one sure returnee in Scott Diamond. The Twins could also add one more veteran to compete with holdovers Nick Blackburn, Liam Hendriks and Cole De Vries for an opening.

The gamble on Pelfrey is interesting, considering that the Twins let the similarly positioned Scott Baker go to the Cubs in free agency earlier this winter. Baker, likewise rehabbing from Tommy John surgery, signed for $5.5 million, plus incentives. And unlike Pelfrey, Baker has already proven he can cut it in the AL. The Twins got burnt last year by Jason Marquis, who had no AL experience and was roasted to the turn of an 8.47 ERA in seven starts before earning his release.

Giants sign Drew Smyly to one-year deal

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The Giants announced on Thursday that the club inked pitcher Drew Smyly to a one-year contract. As Alex Pavlovic of NBC Sports Bay Area notes, the contract is of the major league variety.

Smyly, 30, split last season between the Rangers and Phillies with a stint with the Brewers in between. He did not appear in a major league game with the Brewers. In aggregate, Smyly posted a 6.24 ERA with 120 strikeouts and 55 walks over 114 innings.

Smyly will vie for a spot at the back of the Giants’ starting rotation. If he doesn’t make the cut, he could work out of the bullpen. Pitching in the spacious confines of Oracle Park should help Smyly, who gave up 19 homers in Texas and 13 in Philly last season in more hitter-friendly parks.