Report: Mariners agree to one-year deal with left-hander Joe Saunders

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UPDATE: The deal is worth between $5-7 million and includes an option for 2014, according to Scott Boeck of USA Today.

7:46 PM: This isn’t quite on the level of the big Felix Hernandez news, but FOX Sports’ Ken Rosenthal reports that the Mariners have signed left-hander Joe Saunders to a one-year contract, pending a physical. No word yet on the terms involved.

Saunders was reportedly holding out for a multi-year deal this offseason, but his market clearly didn’t develop as hoped. The Orioles and Twins were also mentioned as possible landing spots in recent weeks, but apparently the Mariners had the best offer on the table.

Saunders owns a 4.15 ERA over eight seasons in the majors, including a 4.07 ERA and 112/39 K/BB ratio over 174 2/3 innings last season between the Diamondbacks and Orioles. The 31-year-old will essentially fill the spot of fellow southpaw Jason Vargas, who was traded to the Angels earlier this winter in the Kendrys Morales deal.