The Red Sox made it official Thursday, signing pitcher Joel Pineiro to a one-year contract with a mutual option for 2008.

Terms were not released, but the Globe’s Nick Cafardo reported in today’s Boston Globe it was a $4 million deal. The Associated Press reported the deal included $2 million in incentives based on games finished, which basically means he’d gain that extra cash should he become the Sox closer, a job he figures to compete for in spring training.

Read more about Pineiro in Cafardo’s article in Today’s Globe.