Giants finalize deal with Peavy

San Francisco, CA (SportsNetwork.com) - The reigning World Series champion San Francisco Giants officially announced on Tuesday that they have re-signed veteran pitcher Jake Peavy to a two-year contract.

Financial terms were not disclosed by the team, though ESPN reported that Peavy will earn $7 million in 2015 and $13 million in 2016 in addition to receiving a $4 million signing bonus. The deal also includes a full no-trade clause.

Peavy flourished with the Giants after being acquired from Boston just prior to the July 31 trade deadline, posting a 2.17 earned run average and a 6-4 record over 12 regular-season starts. The 2007 National League Cy Young Award winner also made four postseason starts for San Francisco, going 1-2 with a 6.19 ERA.

The 33-year-old right-hander had been having a rough season with the Red Sox, winning just one time in 20 starts while pitching to a 4.72 ERA.

A three-time All-Star, Peavy owns a 139-111 career record with a 3.53 ERA over 13 major league seasons.