The Cleveland Indians have re-signed Jason Giambi to a one-year contract.

Giambi received the same Minor League deal, with an invite to Spring Training, that he received last offseason.

"I don't think there's any better way to start our offseason than re-signing Jason," Chris Antonetti said. "He made such a huge impact on our team. He embodies everything we're looking for in our players -- his professionalism, the way he works, the way he prepares for a game, the teammate that he is, the energy he brings to the team and the clubhouse.

"He made an immense impact on our team this year and we're thrilled to continue to have him as part of the organization."

The San Francisco Giants agreed to a two-year, $35 million deal with Tim Lincecum earlier this week despite a 4.76 ERA over the past two seasons.

The $17.5 million annual value is the 15th-highest in baseball history for a pitcher.

However, San Francisco assistant general manager Bobby Evans believes the contract was justified.

"The Giants were going to place the qualifying offer ($14.1 million) on Lincecum to assure if he left, they would receive draft-pick compensation. If he stayed, that would be his 2014 salary. If they then offered the tender next year and it had about the same increase ($800,000) that it had between 2012-13, then the Giants could, through this process, have Lincecum for two years at $29 million — not incredibly far off the two-year deal the sides actually reached," writes Joel Sherman.

The San Francisco Giants have agreed to a two-year contract with Tim Lincecum, which keeps the two-time Cy Young winner from reaching free agency.

Jon Heyman is reporting that the deal is worth $35 million through the 2015 season.

The 29-year-old posted a 4.37 ERA with 8.8 K/9 and 3.5 BB/9 in 2013.

The Los Angeles Dodgers have agreed to a four-year, $28 million deal with Cuban infielder Alexander Guerrero, according to baseball sources.

The Dodgers have been working towards a deal with Guerrero since last month.

The 26-year-old, who can play shortstop and second base, was granted free agency in July, but was not unblocked by the U.S. Office of Foreign Assets Control until Friday.