Update, 3:40 p.m. ET: Jerry Crasnick of ESPN has more details on the terms of the agreement:
Free agent left-hander Tony Watson has reportedly agreed to terms with the Giants, FanRag Sports’ Jon Heyman announced late Friday night. While the deal has not been confirmed by the team, it’s believed to be a two-year agreement with incentives and a player option (with additional incentives) for a third year. Henry Schulman of the San Francisco Chronicle adds that the deal guarantees Watson something “in the neighborhood of $7 million,” though the exact figure has yet to be disclosed. More importantly, the contract isn’t expected to push the Giants over the $197 million luxury tax threshold.
Watson, 32, capped a seven-year run with the Pirates in 2017 after being dealt to the Dodgers at the trade deadline. The lefty reliever earned a combined 3.38 ERA, 2.7 BB/9 and 7.2 SO/9 in 66 2/3 innings with the two clubs. He also produced 10 saves with the Pirates after beginning the season in the closer role, though some midseason struggles led to his eventual demotion.
The Giants have been in sore need of healthy, productive relievers after a disastrous 2017 campaign, one in which highly-touted closer Mark Melancon succumbed to a lingering forearm strain and the bullpen stumbled to a 25th-best ranking in the league with a cumulative 4.34 ERA and 1.5 fWAR. Granted, Watson is several years removed from the lights-out, sub-2.00 ERA performance that merited All-Star billing back in 2014, but he still figures to be a valuable addition to a team hoping to contend again in 2018.