Cubs Sign RHP Joe Nathan For Remainder Of Season

(CBS/AP) The Cubs have signed right-handed reliever Joe Nathan to a big league contract for the 2016 season, they announced Tuesday.

The 41-year-old Nathan tore his ulnar collateral ligament and flexor pronator in his right elbow early last season. He underwent Tommy John surgery in April 2015 and is continuing to rehab. He's not expected to be ready until the second half of the season. The Cubs have officially placed Nathan on the 60-day disabled list.

A six-time All-Star with 377 career saves, Nathan made just one appearance before suffering his elbow injury in 2015. He had a 4.81 ERA in 62 appearances for the Tigers in 2014. He has a 2.89 ERA for his career.

Nathan's deal is for the major league minimum $507,500 this year and gives the Cubs a $1.5 million option for next season. He has $100,000 in games bonuses for this year, $800,000 in games finished bonuses and $1.5 million in roster bonuses. In 2017, the bonus opportunities are $100,000 for games, $1.5 million for games finished and $2.5 million based on roster time.

If Nathan pitches in at least 30 games this year, has at least 75 days on the active major league roster and a medical exam determines he finishes the season uninjured, the option price would increase to $1.75 million and there would be a $125,000 buyout if it is declined. If he also has 30 games finished this year, it would become a $2 million mutual option and include a $250,000 buyout if the club declines.

For 2016, he would get $25,000 each for 15, 20, 25 and 30 games; $100,000 apiece for 10, 15 and 20 games finished; and $250,000 each for 25 and 30 games finished. He also would receive $250,000 apiece for 15 and 30 days on the active roster, and $333,333 each for 45, 60 and 75.

For 2017, he would get $25,000 each for 30, 40, 50 and 60 games; $250,000 apiece for 30, 35, 40 and 45 games finished; and $50,000 each for 50, 55 and 60 games finished. He also would receive $150,000 apiece for 30, 45, 60 and 75 days on the active roster, and $225,000 each for 90, 120, 150 and 180.

Nathan also would get $50,000 for any season he wins the NL comeback player of the year award.

Detroit declined its $10 million option on Nathan in the offseason. He also has pitched for San Francisco, Minnesota and Texas.