Peavy and Giants finalize $24 million, 2-year contract

Jeff Roberson/AP File PhotoThe San Francisco Giants have finalized a two-year contract with right-handed pitcher Jake Peavy.

SAN FRANCISCO — Jake Peavy and the San Francisco Giants have finalized a $24 million, two-year contract.

The deal was agreed to last week and completed Tuesday.

Peavy will receive a $4 million signing bonus, $7 million next season and $13 million in 2016. The contract includes a full no-trade provision and award bonuses.

A 33-year-old right-hander, Peavy helped Boston win the 2013 World Series and was traded to San Francisco on July 26. After beginning 1-9 with Boston, Peavy went 6-4 with a 2.17 ERA in 12 starts for San Francisco. He was 1-2 in four postseason outings as the Giants won their third title in five years.

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