Loney also receives a $5 million signing bonus, according to the report. The Pirates and Brewers were also reportedly interested in signing Loney. He came to the Rays last season after signing a one-year, $2 million deal.
LEMIRE: Cruz, Drew, Garza among best free agents available by position Loney, 29, hit .299 with 13 home runs and 75 RBIs in 158 games for the Rays last season. An eight-year veteran, Loney has career marks of .299 with 86 home runs and 534 RBIs.