Axford (30 years old) throws a fastball, a slider, and a curve, and was one of the best closers in baseball in 2011 (with the Brewers), before struggling in 2012 and again at the start of 2013. He was eventually traded to the Cardinals, where he did better in 13 regular season appearances and another 6 in the postseason.
Terms of the deal have not yet been released, but it will likely be a 1-year deal.
The contract is for 1-year, $4.5 million, with another $1.75 million in incentives, based on the number of games he finishes. Axford is also still arbitration-eligible for another two seasons beyond 2014, so the team would retain his rights, giving them something like two team options for 2015 and 2016.
More on the signing as details come out, along with further analysis of the move.