Dan Hayes of The Athletic first reported the signings.
The 39-year-old Hill went 4-1 with a 2.45 ERA in 13 starts for the Los Angeles Dodgers last season. He struck out 72 batters in 58.2 innings and posted a 1.13 WHIP. He has gone 41-20 with a 2.91 ERA since 2015, striking out 10.7 batters per nine innings.
The left-hander also proved to be a reliable postseason asset, posting a 2.17 ERA in his last 11 playoff appearances. He's turned it up in the World Series, giving up only three earned runs in 15 innings.
Unfortunately, injuries have prevented him from enjoying a full season in a rotation outside of 2007, when he made 32 starts for the Chicago Cubs. Hill hasn't started more than 25 times in a season otherwise. Blister issues limited him in 2017 and 2018, and a forearm strain sidelined him for much of 2019.
Bailey, 33, went 13-9 with a 4.57 ERA in 31 starts for the Kansas City Royals and Oakland Athletics. He punched out 149 batters in 163.1 innings to go along with a 1.32 WHIP, which was his lowest mark since 2014.
The right-hander struggled mightily from 2015 to 2018 as injuries kept him off the mound for all but 46 starts, in which he went 9-27 with a 6.25 ERA for the Cincinnati Reds.
But Bailey, who played 12 seasons for the Reds, improved in 2019 with a fresh start in Kansas City. The Royals traded him to Oakland in July, and he finished the year with the playoff-bound A's.