Giants and Phillies also complete trade

SAN FRANCISCO –The Giants and right-handed pitcher Luke Jackson agreed to terms on a two-year Major League contract worth $11.5 million that also includes a club option for the 2025 season. Jackson will earn $3 million in 2023 and $6.5 million in 2024. If the club option for 2025 is exercised, Jackson will earn $7 million. If the 2025 club option is not exercised, Jackson would be entitled to a $2 million buyout.

Jackson’s 2025 club option base salary can escalate by up to $3.5 million for games finished during the 2024 season: $500,000 each for 30, 35, 40 and 45 games finished and $750,000 each for 50 and 55 games finished. He will make a donation to the Giants Community Fund of $15,000 in 2023, $32,500 in 2024 and $35,000 in 2025 if the club option is exercised.

Jackson, 31, missed the entire 2022 season after undergoing Tommy John surgery on April 13. The surgery was performed by Dr. Keith Meister in Arlington, Texas.

The Fort Lauderdale, FL native turned in one of his best seasons in 2021 as he helped Atlanta win the World Series. Jackson was 2-2 with a career-low 1.98 ERA over a career-best 71 games. He recorded 70 strikeouts and 29 walks in 63.2 innings of work. His 31 holds during the regular season were second-most in the Majors. He made 11 appearances for the Braves during the 2021 Postseason, striking out nine batters in 8.2 innings while holding opponents scoreless in nine of his 11 appearances.

In addition, the Giants and Phillies completed a trade, with LHP Erik Miller joining the Giants organization in exchange for RHP Yunior Marte. Miller, 24, was the Phillies fourth-round selection in the 2019 draft out of Stanford and was ranked as the Phillies seventh-best prospect according to MLB.com.