CHICAGO (Ticker) - LaTroy Hawkins, one of baseball's premier setup men last season with the Minnesota Twins, signed with the Chicago Cubs on Wednesday.

Hawkins agreed to a two-year contract with a player option for the third season. Terms were not disclosed, but ESPN Radio 1000 reported that the deal is worth $11.2 million and could escalate to $15 million if certain incentives are met.

It is a homecoming of sorts for Hawkins, who grew up in nearby Gary, Indiana.

A righthander who turns 31 later this month, Hawkins emerged as one of baseball's best relievers the last two seasons. In 2003, he was 9-3 with two saves and a 1.86 ERA in 74 appearances. Last year, the converted closer went 6-0 with a 2.13 ERA in 65 games.

Hawkins could close or set up at Wrigley Field, where Joe Borowski was 2-2 with 33 saves and a 2.63 ERA in 68 games in his first season as closer.

Hawkins owns a career record of 44-57 with a 5.05 ERA and 44 saves in 366 career games. He has appeared in at least 62 games in each of the last four seasons.

The signing of Hawkins is be the second major offseason move for the Cubs, who acquired first baseman Derrek Lee from Florida since losing to the Marlins in seven games in the National League Championship Series.

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The Giants enjoy a small windfall as a result Twins' salary purge

As confirmed by the team, the San Francisco Giants have acquired 26-year-old catcher, A.J. Pierzynksi for pitchers Joe Nathan , minor leaguer Boof Bonser and a minor league player to be named player later.

The move was necessary for each team in order to attempt to fill what could be huge holes in the batting order and on the field. The Giants' 38-year-old catcher Benito Santiago is a free agent and saw his power numbers diminish in 2003 (not to mention his postseason magic). In addition to his 2003 .312 avg., 11 homers and 74 RBI, Pierzynski's exuberance is what GM Brian Sabean looks to catapult the team back into the Fall Classic.

Despite a 12-4 record with a 2.96 ERA in 78 relief appearances, Joe Nathan lost the confidence of his manager for all eyes to see in Games 2 and 3 of the NLDS. With today's trade, he was obviously the expendable carrot that Sabean dangled in front the eyes of Twins' GM, Terry Ryan. With free agent departures possibly looming - such as left fielder Shannon Stewart, closer Eddie Guardado and middle reliever LaTroy Hawkins - Ryan relieved some of the team's budgetary restraints by trading the arbitration-eligible Pierzynksi (hoping the extra cash would help ensure their signatures on new contracts). Should one of them depart, Manager Ron Gardenhire can either insert Nathan into the starting rotation or assume the role of either Guardado/Hawkins should they depart. Bonser gives the Twins an eye toward the future, if not an immediate impact in either the rotation or bullpen.

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