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Rays agree to contract with Loney

St. Petersburg, FL (Sports Network) - The Tampa Bay Rays officially signed free agent first baseman James Loney to a one-year contract on Thursday.

Financial terms of the contract were not released, but the St. Petersburg Times and CBS Sports had reported it to be worth $2 million with incentives that could make it worth an additional $1 million.

Loney split last season with the Dodgers and Red Sox, batting a combined .249 with six homers and 41 runs batted in. He was part of the blockbuster August deal that sent Adrian Gonzalez, Carl Crawford and Josh Beckett to Los Angeles.

The 28-year-old former first-round pick is a career .282 hitter with 73 homers and 459 RBI in 926 games over seven big league seasons.

12/06 15:01:52 ET