Jason Giambi returns to Oakland Athletics his professional baseball root, signing a one-year deal with the club where he won the Most Valuable Player award (1995-2001). Terms of the agreement include a one-year contract for the 2009 season, plus a club option for 2010. To clear a spot on the 40-man roster, the A's designated infielder Joe Dillon for assignment.
With Oakland, Giambi gets a $4 million salary this season and the A's hold a $6.5 million option for 2010 with a $1.25 million buyout, according to the Associated Press. He can earn an additional $500,000 each year in performance bonuses: $250,000 each for 525 and 550 plate appearances. Giambi and the A's finalized a $5.25 million.
Giambi spent seven seasons with New York, where he was a .260 hitter with 209 home runs and 604 RBI in 897 games. Previously, he batted .308 with 187 home runs and 675 RBI in 953 games in seven seasons with the A's.
Giambi, a five-time American League All-Star and the 2000 AL MVP, is four home runs away from 400 for his career, during which he's batted .286 with 1,279 RBIs and a .408 OBP.
Additionally, Bob Alejo - Giambi's personal trainer - has also been given his old job back as A's coach of strength and conditioning. He originally held the position from 1993 to 2001, and met Giambi in his rookie year.
As expected, the A's on Wednesday announced that they've signed Giambi to a one-year contract with a club option for 2010.