ESPN is reporting Sunday that the Colorado Rockies have agreed to a deal with former Yankees slugger Jason Giambi.  Giambi had signed with the Oakland A’s before the season to a 1 year, $5.25 Million deal, but he failed to perform, hitting only .193 with 11 HR and 40 RBI in 83 games.  2009 has been the worst statistical year of his career.

On July 20, Giambi went on the DL with a strained right quad.  Seemingly frustrated with his lack of offense and stint on the DL, Giambi was released on August 7th.  By releasing Giambi, the A’s still were required to continue to pay him the $5.25 Million he was owed.

No word yet on the monetary size of the 1-year deal with the Rockies, but despite all this, Giambi has done well this year.  In addition to his $5.25 million deal with Oakland, he also received a $5 million buyout from the Yankees because they didn’t pick up his $22 million option before the season started.

Since Colorado is in the National League, I would expect Giambi to pinch hit and have occasional spot starts at first base.  The team already has Todd Helton at first and he has appeared in all but 8 games this season, hitting .321 with an OBP of .403.

The Rockies have made a nice run for the playoffs in the second half of the season and have lowered a 10+ game lead by the NL West leading LA Dodgers to only 4 games.  They also lead the wild-card standings by 3 games over San Francisco.