Greg Holland to Rockies: Latest Contract Details, Comments and Reaction

After missing the entire 2016 season, Greg Holland will look to rebound with the Colorado Rockies in 2017. The Rockies announced Saturday they signed Holland to a one-year deal with a conditional second-year option.

Yahoo Sports' Jeff Passan first reported the news Jan. 25.

The deal is for $7 million guaranteed, with non-closing incentives that could take the amount to $10 million and closer incentives that could bring the total to $14 million, per Passan.

A two-time All-Star in 2013 and 2014, Holland struggled in 2015. He had 32 saves in 40 appearances, but his ERA and FIP ballooned to 3.83 and 3.27, respectively—up from 1.44 and 1.83 in the year before, per Baseball-Reference.com.

More concerning, Holland lost more than two mph on his fastball and splitter. According to Brooks Baseball, he averaged 96.33 mph on his fastball and 88.58 mph on his splitter in 2015. In 2016, his fastball clocked in at an average of 94.29 mph, while his splitter came in at 86.54 mph.

It came as little surprise when Holland underwent Tommy John surgery in October 2015. His contract with the Kansas City Royals expired shortly thereafter, and unable to pitch, he went unsigned last season.

Holland held a workout in Phoenix for potential suitors in November. The Kansas City Star's Rustin Dodd reported over 40 MLB executives and scouts from more than 15 teams attended the showcase. Holland's fastball reached only 90 to 91 mph on the radar gun, well below his best days with the Royals.

FanRag Sports' Jon Heyman reported Jan. 11 that Holland was receiving interest from a number of MLB teams and that the expectation was that he'll have a slow adjustment back to MLB before taking a larger role in 2018.

The price for elite closers has skyrocketed, especially after late-inning relievers played pivotal roles in the Royals' and Chicago Cubs' World Series wins over the last two years.

Aroldis Chapman, Kenley Jansen and Mark Melancon have all signed new deals in the offseason, thus setting the market for top-end closers. Below is a look at the rise in average pay for the top 10 highest-paid closers from 2016 to 2017, per Spotrac:

Rank (2016)	Player (2016)	Avg. Salary (2016)	Rank (2017)	Player (2017)	Avg. Salary (2017)
1	David Robertson, CWS	$11,500,000	1	Aroldis Chapman, NYY	$17,200,000
2	Aroldis Chapman, CHC	$11,325,000	2	Kenley Jansen, LAD	$16,000,000
3	Kenley Jansen, LAD	$10,650,000	3	Mark Melancon, SF	$15,500,000
4	Craig Kimbrel, BOS	$10,500,000	4	David Robertson, CWS	$11,500,000
5	Mark Melancon, WAS	$9,650,000	5	Zach Britton, BAL	$11,400,000
6	Ryan Madson, OAK	$7,333,333	6	Craig Kimbrel, BOS	$10,500,000
7	Zach Britton, BAL	$6,750,000	7	Jeurys Familia, NYM	$7,425,000
8	Francisco Rodriguez, DET	$6,500,000	8	Cody Allen, CLE	$7,350,000
T9	Seung Hwan Oh, STL	$5,000,000	9	Ryan Madson, OAK	$7,333,333
T9	Jim Johnson, ATL	$5,000,000	10	A.J. Ramos, MIA	$6,550,000
T9	Santiago Casilla, SF	$5,000,000	----	----	----

Despite the risk, signing Holland makes sense. At his peak, the 31-year-old was one of the best closers in baseball. If he makes a full recovery from his surgery, he'll be a massive bargain.

Of course, there's still a chance Holland's days as a productive MLB reliever ended when he went under the knife. Many starting pitchers have successfully recovered from Tommy John surgery, but relievers are often more reliant on velocity, making the recovery more difficult.

Brian Wilson and Joba Chamberlain are two recent cases of previously effective late-inning relief pitchers who struggled to return from the procedure.

Still, the potential of Holland being a great closer again is worth the gamble.

The Rockies' closer job will likely be up for grabs in the spring. Jake McGee, who led the team with 15 saves in 2016, and Adam Ottavino, who had seven saves, will be the two likeliest candidates, and Holland's arrival will give Colorado another late-inning option.

By spending $70 million on Ian Desmond earlier in the offseason, the Rockies showed they're ready to make the jump to contender in 2017. Signing Holland is another move that could bolster Colorado's short-term ambitions.