The right-handed power hitter will get $3.25 million next season, $4.25 million in 2010 and $5.25 million in 2011.
And as news spread of a meeting between their No. 1 offseason target – Mark Teixeira – and Boston Red Sox officials in Dallas, Angels management continued to pursue other options to replace the slugging first baseman, operating as though Teixeira indeed would sign with the Red Sox.
Angels general manager Tony Reagins will explore the trade market for more offense, starting perhaps with Chicago White Sox sluggers Jermaine Dye and Paul Konerko. The versatile Chone Figgins has been a sought-after figure in trade talks.
With some of the money earmarked for Teixeira, L.A. likely will sign a closer, probably Brian Fuentes, who has expressed his desire to play for the Angels. They also have held discussions with the Padres about trading for starter Jake Peavy, but not since the end of the winter meetings.
Rivera had been a valuable fourth outfielder for the Angels before breaking his leg in a Venezuelan winter league game after the 2006 season, his most productive in the big leagues. He hit 12 home runs and batted .246 in 256 at-bats last season.