Giambi continues to post well-above-average on-base percentages. (US Presswire)

The Indians have signed Jason Giambi to a minor league contract with an invitation to spring training, the team announced. Paul Hoynes of the Cleveland Plain-Dealer says the contract will pay the slugger $750,000 plus incentives if he makes the team.

Giambi, 42, interviewed for the Rockies' managerial position earlier this offseason. The team then considered him for hitting coach after choosing Walt Weiss as their new manager. Rather than seek another managerial or coaching position elsewhere, Giambi decided to continue his playing career.

The Indians allowed both Casey Kotchman and Travis Hafner to leave as free agents this winter, creating holes at first base and DH. Mark Reynolds was signed to fill one of those holes -- likely first base -- potentially leaving the other for Giambi. The long-time Athletic, Yankee, and Rockie hit .225/.372/.303 last season while battling illness and a hernia. Giambi's power isn't what it once was given his age, but he continues to post well-above-average on-base percentages.

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