The San Francisco Giants announced the signing of closer Mark Melancon to a four-year contract. His deal is worth a reported $62 million, which shatters the $50 million, previous record for relief pitchers, Jonathan Papelbon received from the Philadelphia Phillies in November 2011.
Melancon’s contract is also said to include an opt-out clause after the 2018 season. His record deal should soon fall, with Aroldis Chapman and Kenley Jansen still available on the open market.
The New York Yankees submitted contract offers to each closer, which may accelerate the decision-making process.
After receiving interest from the Los Angeles Dodgers, San Francisco Giants, Yankees and Washington Nationals, talks between Melancon and San Francisco began to advance over the weekend.
The Giants were also tied to Chapman and Jansen, but reportedly were not willing to sign either to a record contract.
Melancon finished the season with a combined 47 saves, 1.64 ERA, 2.42 FIP and 0.89 WHIP. He earned All-Star Game honors for a third time in his career.
The right-hander tallied 30 saves with a 1.51 ERA, 2.67 FIP and 0.96 WHIP in 45 games prior to being traded by the Pittsburgh Pirates. After joining the Nationals, Melancon pitched to a 1.82 ERA, 2.07 FIP and 0.81 WHIP in 30 games.
He figures to provide a boost to a Giants bullpen that led the Majors with 30 blown saves. San Francisco relievers had a combined 3.65 ERA that ranked 15th overall.