The former Pirates and Nationals closer will head to San Francisco on a four-year, $62 million deal.
The San Francisco Giants and righthanded reliever Mark Melancon have agreed to a four-year, $62 million contract to be the team's next closer, the team announced on Monday. The deal is pending a physical. It is the richest deal for a closer in MLB history.
Melancon is coming off a season in which he recorded 47 saves, which was the second most in the major leagues, as well as a 1.64 ERA for the Washington Nationals and Pittsburgh Pirates. He pitched in a league-leading 67 games last season.
The Giants had interest in acquiring Melancon at the trade deadline but were unable to pull the trigger on any deal. The Nationals had also expressed interest in re-signing Melancon in the opening days of free agency.
Melancon has made three of the last four All-Star games and has recorded 147 saves since 2013. He led the National League in 2015 with 51 saves.
The Chicago Cubs, Colorado Rockies and Boston Red Sox also had interest in Melancon.