MLB

Fernando Rodney and Padres finalize $2 million, 1-year deal

October 13, 2015; Chicago, IL, USA; Chicago Cubs relief pitcher Fernando Rodney (57) reacts after he is relieved in the seventh inning against St. Louis Cardinals in game four of the NLDS at Wrigley Field. Mandatory Credit: Jerry Lai-USA TODAY Sports

October 13, 2015; Chicago, IL, USA; Chicago Cubs relief pitcher Fernando Rodney (57) reacts after he is relieved in the seventh inning against St. Louis Cardinals in game four of the NLDS at Wrigley Field. Mandatory Credit: Jerry Lai-USA TODAY Sports

SAN DIEGO -- Reliever Fernando Rodney and the San Diego Padres completed their $2 million, one-year contract.

The 38-year-old right-hander, who agreed to the deal on Jan. 20, split last season between the Seattle Mariners and Chicago Cubs, going 5-5 with 16 saves and a 5.68 ERA.

He enters spring training as the likely replacement for closer Craig Kimbrel, who was traded to Boston.

More from FoxSports

Rodney gets a $1.6 million salary this year as part of Thursday's deal, and the Padres have a $2 million option for 2017 with a $400,000 buyout.

He can earn $1.5 million in performance bonuses each year based on appearances: $500,000 each for 40, 50 and 60 games. He can also earn $3.5 million annually for games finished: $250,000 each for 20 and 30, and $500,000 for 40 and each additional five through 65. The 2017 option would escalate by any performance bonuses earned this year.