Report: Giants Sign Penny

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SAN FRANCISCO -- Badly in need of a fifth starter to solidify one of the best rotations in baseball, the San Francisco Giants have signed veteran right-hander Brad Penny, according to multiple sources.

Penny was put on waivers by the Boston Red Sox last week, but was not claimed.

The 31-year-old went 7-8 with a 5.61 ERA in 24 starts with the Red Sox this season.

He'll join a rotation that includes Tim Lincecum, Matt Cain, Barry Zito and Jonathan Sanchez with Randy Johnson expected to work out of the bullpen in September.