Left-handed reliever Javier Lopez has agreed to an $8.5 million, two-year contract to stay with the San Francisco Giants, a person with knowledge of the negotiations told The Associated Press on Sunday.
Lopez - one of baseball's most reliable lefties out of the bullpen - had been set to become a free agent before receiving a new deal, confirmed under the condition of anonymity because the team had yet to make a formal announcement. Lopez will earn $4.25 million in 2012 and '13.
The 34-year-old has gone 7-2 with a 2.38 ERA in 97 appearances since being acquired in a trade from Pittsburgh in 2010, one of general manager Brian Sabean's key additions during the Giants' improbable World Series championship run that season.
Lopez had a $2,375,000 base salary in 2011 and was two innings short of earning a $25,000 bonus for reaching 55 innings.
San Francisco must decide by the end of the day Monday whether to exercise the $5 million contract option on fellow lefty reliever Jeremy Affeld...