SAN FRANCISCO (CBSDFW.COM/AP) — There had been talk swirling around this winter about the possibility of left-handed pitcher Derek Holland returning to the Texas Rangers, but it’s not happening.

Holland is staying with the San Francisco Giants, agreeing to a one-year contract that guarantees $7 million.

Holland has a $6.5 million salary as part of the deal announced Monday, and the Giants have a $7 million option for 2020 with a $500,000 buyout. The option price can escalate based on starts this year, by $500,000 each for 24 and 28, and by $1 million for 32.

Derek Holland #45 of the San Francisco Giants pitches during the first inning of a baseball game against the San Diego Padres at PETCO Park on September 18, 2018 in San Diego, California. (Photo by Denis Poroy/Getty Images)

The 32-year-old was 7-9 with a 3.57 ERA in 30 starts and six relief appearances over 171 1/3 innings in his first season for San Francisco. He dropped his ERA from 6.20 with the White Sox the previous year, the second best improvement by major league pitchers, according to STATS.

Holland, who spent the first eight of his 10 big league seasons with Texas, helped fill a void in the rotation when the Giants dealt with injuries Madison Bumgarner, Johnny Cueto and Jeff Samardzija.

“From our standpoint going back to the winter meetings, it’s been a priority to add some starting pitchers, partly to take some of the pressure off the younger guys,” president of baseball operations Farhan Zaidi said. “It was really encouraging to see that he made those 30 starts but also got better and stronger as the season went along. That’s always an encouraging sign when you’re looking at the free agent market of pitchers, guys who finished strong. Derek had a terrific second half.”

Holland dropped his ERA from 6.20 with the White Sox the previous year, the second best improvement by major league pitchers, according to STATS. San Francisco considers Holland a starter but appreciates his ability to come out of the bullpen as well.

“The way I look at it, I’m always competing for a spot,” Holland said.

(© Copyright 2019 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)