Giants, Mark Melancon agree to 4-year, $62 million deal

NATIONAL HARBOR, Md. -- The Giants have agreed to sign closer Mark Melancon to a 4-year, $62 million deal, as first reported by FOXSports.com’s Ken Rosenthal. The deal includes an opt-out clause after two seasons, according to Yahoo! Sports’ Jeff Passan.

Melancon is the first of the trio of big-name closers to be taken off the market, signing before stars Aroldis Chapman and Kenley Jansen. Opt-outs are expected to be a significant piece of each closer’s contract, as signaled by the inclusion of one in Melancon’s deal.

San Francisco was known to be aggressive on the market for closers this winter, and had interest in Kenley Jansen as well as Melancon. Melancon’s deal will almost surely be cheaper than the deals for Jansen and Chapman, providing a cheaper alternative for the Giants.

Melancon will replace Santiago Casilla at the back end of the Giants’ bullpen, providing a much-needed stabilizer for a team that blew 32 saves last season. Melancon will join Derek Law, Hunter Strickland, Will Smith and George Kontos in a group that is likely losing both Casilla and Sergio Romo to free agency.

Melancon, 31, also drew strong interest from the Nationals and was linked to his hometown team, the Rockies, before settling on San Francisco. The righty was spectacular in 2016, posting a combined 1.64 ERA with 47 saves in 75 appearances split between the Pirates and Nationals.