Rays sign Steve Pearce to 1-year, $4.75 million deal

The Rays have agreed to a 1-year, $4.75 million deal with Steve Pearce, as first reported by Marc Topkin of the Tampa Bay Times. Ken Rosenthal of FOXSports.com provides further financial details:

Pearce terms with #Rays: One year, $4.75M. $125K for 400 and 425 PAs, $250K for 500, 525, 550 and 575 PAs, one-time $250K bonus if traded.

— Ken Rosenthal (@Ken_Rosenthal) January 29, 2016

Pearce was thought to be looking for a 2-year deal on the open market, though he settled for a shorter deal with less than a month before pitchers and catchers report to spring training. The 32-year old was also linked to the Rangers, Indians, Orioles, Mets and Brewers at various points this offseason.

Pearce will see at-bats as a designated hitter, first baseman and outfielder for the Rays, who are looking for offensive help as the free-agent market dwindles at this late point in the offseason. Pearce went to high school in Lakeland, Florida, close to the Rays' home in St. Petersburg.

Pearce struggled to a .218/.289/.422 line in 92 games with Baltimore last season, just one season removed from a career year in which he hit .293/.373/.556 with 21 home runs in 102 games. He is a veteran of nine major-league seasons with the Pirates (2007-11), Orioles (2012, 2013-15), Astros (2012) and Yankees (2012).