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Quick Hits: Giambi, Young, Hairston, Wakefield

While a couple more arbitration hearings were averted Thursday, here's a few tidbits of note:

• The Rockies have a uniquely structured minor-league deal with Jason Giambi, blogs Troy Renck of the Denver Post. Giambi will earn a salary of $850,000 this season or a $250,000 buyout if he's cut during Spring Training (which is unlikely, according to Renck). There's also a mutual option for 2012 worth $1MM with a $150,000 buyout. Finally, Giambi can request that he be released on two separate dates (March 31 and June 1) if he's not on the 25-man roster at those times.
• The Mets' incentive-laden, one-year deal with Chris Young is structured such that the right-hander will earn bonuses for a variety of benchmarks, writes Adam Rubin of ESPNNewYork.com. On top of his $1.5MM base salary, Young can earn as much as $1,525,000 for starts Nos. 10-31 and $1,875,000 for innings 70-180.
• The Mets' one-year pact with Scott Hairston is a Major League deal, contrary to some earlier reports, tweets Ken Rosenthal of FOX Sports, and is worth $1.1MM in base salary and $400,000 in incentives.
• Tim Wakefield, the Red Sox's 44-year-old knuckleballer, says he hasn't ruled out the possibility of pitching beyond 2011, writes Ian Browne of MLB.com. Wakefield, entering his 16th season with Boston, is in the final year of a two-year deal he signed prior to the 2010 campaign. It's far too soon to guess whether Wakefield would pitch for another team or if one would be interested in him after 2011, but because the knuckleball is relatively easy on the arm, it stands to reason someone might take a flier on him to eat innings in a swing role.

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