The fact that Davis ended up signing with the Rockies is a bit of a surprise.
Davis, 32, was 4-2 with 32 saves in 33 opportunities and a 2.30 ERA for the Chicago Cubs last season.
Chicago Cubs relief pitcher Wade Davis (71) pitches in the eighth inning against the Washington Nationals during game five of the 2017 NLDS playoff baseball series at Nationals Park.
Friday's agreement totals $52m over three years and reportedly includes a fourth-year vesting option at $14m. Jon Heyman of Fan Rag Sports and Passan reported that the deal is for $52 million over three years. Davis won a World Series ring with the Royals in 2015 and helped the Cubs to another World Series appearance a year ago.
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Holland and Davis were teammates on the 2015 Royals team that won the World Series.
This would mark another major bullpen signing for the Rockies this offseason as the team agreed to terms with former Cleveland Indians reliever Bryan Shaw during the Winter Meetings. Instead, they've ended up with Davis as the back of their bullpen.
The money going to Davis brings the sum of the Rockies offseason spendings to $114.5 million. With Shaw, McGee, and now Davis all set to man the back end of the bullpen, it's also worth noting that guys like Mike Dunn and Chris Rusin should also return in relief roles.
The average annual value of the deal surpasses the contract Aroldis Chapman signed with the New York Yankees that pays him $17.2m per season.