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January 4, 2007 at 11:55 PM

Pineiro signs contract with incentives to close

The Boston Red Sox confirmed that they have signed RHP Joel Pineiro to a one-year contract (with a mutual option for 2008), reportedly worth $4 million--with $2 million in incentives based on games finished. It has been widely speculated in the media that Pineiro represents the Red Sox prime candidate to fill their vacant closer role. Pineiro, age 28, represents a reclamation project, joining Boston after being non-tendered by Seattle following his worst year as a professional (8-13, 6.36 ERA). After spending the bulk of his career as a starter Pineiro was moved to the bullpen in August of last year, where he went 1-1, with a 4.81 ERA (.213 BAA) and picked up his first career save (Sept. 8, vs. Texas).