WEDNESDAY: Vogelsong has passed his physical, and his deal is complete, John Shea of the San Francisco Chronicle tweets.

FRIDAY, 3:50pm: Vogelsong gets a $5MM guarantee, which means the Giants saved about $1.5MM by declining his option, according to Hank Schulman of the San Francisco Chronicle (on Twitter).

2:25pm: The Giants and Ryan Vogelsong have reached agreement on a one-year deal, according to Jon Heyman of CBSSports.com (on Twitter). It was reported yesterday that the Giants were nearing agreement on a deal with Vogelsong that would guarantee him north of $3MM and possibly take him into the $7-8MM range with incentives.

The Dave Meier client was a minor league deal reclamation project for San Fran who turned in two outstanding seasons over 2011-12. However, injuries slowed him down last year, however, leading him to a 5.73 ERA in 103 2/3 innings. Vogelsong registered a notably lower 5.8 K/9 rate in 2013 and saw his HR/FB leap to 13.4%. While advanced metrics put a better light on his campaign, his 4.91 FIP and 4.50 xFIP were hardly promising.

The Giants recently turned down a $6.5MM club option on the right-hander but have now decided to bring him back on a deal that protects them in the event of another down/injured year. In his last three seasons with the Giants, the 36-year-old has a 3.63 ERA with 6.9 K/9 and 3.1 BB/9 in 78 starts and two relief appearances.

With Vogelsong back in the fold, the Giants will likely steer their attention away from signing a starter to a multi-year pact and zero in on left field, according to Hank Schulman of the San Francisco Chronicle.