SAN FRANCISCO — The Giants have to rebuild just about their entire bullpen, but they’ll at least have one veteran left-hander back.

Tony Watson exercised the player option on the third year of an incentive-filled deal he signed in 2018. Watson will make about $7 million in 2020 and should again serve a key role at the back end of the bullpen.

Watson had a 4.17 ERA in 60 appearances before a wrist fracture ended his season in early September. He had a strong first half but was hit hard in a dozen August appearances, skewing his numbers for the year.

Watson has been a reliable reliever for most of his two years in San Francisco. He had a 2.59 ERA in 2018 in a setup role.

Watson should again pitch in the eighth for the Giants, and there’s a chance he enters 2020 with a shot to close some games. Will Smith, the other lefty at the back end of the bullpen, is now a free agent.

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The Giants also announced Saturday that Fernando Abad’s club option was declined and Kyle Barraclough cleared waivers. Both are now free agents.