San Francisco saves on the way

NATIONAL HARBOR, Md. — Committing an unprecedented sum of money in an attempt to offset unprecedented lapses in performance, the Giants announced Monday that they obtained the closer they sought by agreeing to a four-year contract with free-agent right-hander Mark Melancon. An industry source confirmed Melancon’s contract is worth a total of $62 million, including a $20 million signing bonus of which $12 million will be paid up front. The deal includes salaries of $4 million in 2017 and $10 million in 2018, after which Melancon may opt out of the deal. If Melancon opts into the last two years, the salary is $14 million per season.

The pact’s average annual value of $15.5 million and the total figure established highs for relief pitchers. Both all-time saves leader Mariano Rivera, whose salary topped out at $15 million annually, and Jonathan Papelbon, who signed for $50 million over four years with Philadelphia before the 2012 season, were eclipsed.

• Hot Stove Tracker

Melancon is not expected to remain the game’s highest-paid reliever for very long. Right-hander Kenley Jansen and left-hander Aroldis Chapman — two other top closers available in free agency — likely will command more lucrative deals.

“To be able to land a closer first is kind of nice,” Giants general manager Bobby Evans said.

The unique circumstances of this offseason, featuring a short supply of closers combined with considerable demand for their services, forced Melancon’s contract skyward. So did the Giants’ near-desperate need to find a …

continue reading in source mlb.mlb.com