Rays Sign RHP Balfour to 2-year, $12 Million Deal

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TAMPA, Fla. (AP) - The Tampa Bay Rays have signed right-hander pitcher Grant Balfour to a 2-year, $12 million deal.

Team owner Stu Sternberg announced the deal on Thursday. He says it is a significant move for the budget-minded Rays, noting, "We've had some exceptional teams. We want to give this organization the best chance to win, and we know it's going to cost us more than we can afford to pay."

Balfour, 36, was 62 for 67 in save opportunities the past two seasons with the Oakland Athletics.

It's Balfour's second tour with the Rays. He played with Tampa Bay from 2007-10 and helped the Rays reach the 2008 World Series.

Balfour was a first-time All-Star selection in 2013. He was 25 for 25 in save opportunities the first half of the season.