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Starting pitching has been a priority for the Giants this offseason, but they have been unable to land the big fish so far.
The Giants turned to a familiar face and agreed with Jake Peavy to a two-year contract on Thursday morning, CSNBayArea.com has confirmed.
The deal is pending a physical, which is expected to take place Friday afternoon in Arizona.
Peavy will make $24 million; he'll receive a $4 million signing bonus, $7 million in 2015, $13 million in 2016, and a full no-trade clause, according to an ESPN report.
The 33-year-old went 6-4 with a 2.17 ERA in 12 starts after he was acquired by the Giants last season. He was 1-9 with a 4.72 ERA in 20 starts with the Red Sox before the trade.
A three-time All-Star and the 2007 NL Cy Young Award winner, Peavy owns a 139-111 record and 3.53 ERA over a 13-year career.
The news was first reported by FOX Sports.
Jake Peavy, indeed, headed back to #SFGiants on a 2-year, $24M deal, pending a physical which is taking place later today in Arizona.— Ahmed Fareed (@AhmedFareedCSN) December 19, 2014