Watson agreed to a one-year, $3.45 million contract with the Pirates on Friday, Bill Brink of the Pittsburgh Post-Gazette reports.

EDGE Analysis

Watson posted another phenomenal campaign in 2015, finishing with a sub-2.00 ERA for the second straight year while working in a setup role for closer Mark Melancon. With contract negotiations now behind him, the 30-year-old reliever can now turn his focuses to 2016, and he could be in line to take over the closer role should Melancon falter or suffer an injury of some kind.

Despite diminished velocity, Watson retired the Brewers in order Sunday for a scoreless inning of work.

EDGE Analysis

Watson's fastball was sitting 89-91 mph, significantly down from his season average (93.9 mph). The team hasn't shown any concern with the lefty, but it's worth keeping an eye on. Watson leads the major leagues with 36 holds.

Watson picked up his second win of the year Tuesday, hurling a scoreless eighth inning against the Padres. He permitted a pair of hits and threw a wild pitch but recorded two strikeouts to shut San Diego's rally. Watson has appeared in 40 of Pittsburgh's first 83 contests, something the team will undoubtedly keep an eye on in the second half. He's averaged 71 appearances over the last three seasons.

Watson could be in a line for a save opportunity Monday if the Pirates make Mark Melancon unavailable due to a heavy workload. Melancon has appeared in three of Pittsburgh's last four games while Watson has thrown twice since June 25. The lefty leads the Bucs with 19 holds and features a 2.09 ERA and 0.91 WHIP in 38.2 IP.

Watson was tagged with his first blown save of the season Tuesday, serving up a game-tying two-run homer to J.D. Martinez. Watson has been golden for most of 2015. He holds a 2.11 ERA and 0.93 WHIP in 38.1 innings. The lefty also ranks second in the NL with 18 holds.

Watson will not be available out of the bullpen Thursday, Tom Singer of MLB.com reports. After pitching the past two days, Watson will get a day of rest Thursday. Coming off this rest day, he should be available when the Pirates face the Nationals on Friday.

Watson is not available out of the bullpen Wednesday, the Pittsburgh Tribune's Rob Biertempfel reports. He has been used in two straight games so this is simply a matter of rest. Watson should be available after Wednesday's game.

Watson struck out two batters in a scoreless eighth inning Wednesday. He's limited opponents to one run in 25 innings since Opening Day, collecting 10 holds and a save along the way. The Pirates seem satisfied with Mark Melancon closing, but with Melancon making $5.4 million, it's doubtful the team will keep him around next season. At that point, Watson would likely take over closing duties.

Watson will likely receive any save opportunity the Bucs might get Tuesday, with Mark Melancon sitting after throwing four times in five days. Watson threw four times in five days prior to getting Monday off. Since giving up three runs in one inning Opening Day, the southpaw has limited opponents to one earned run in his last 17 appearances (18 innings).

Watson might be in line to serve as Pittsburgh's closer Saturday, considering Mark Melancon pitched in back-to-back games Thursday and Friday. The team has rested Watson since the southpaw threw 30 pitches Wednesday. He should be good-to-go Saturday in Arizona. The lefty has four holds, one save and a 3.27 ERA in 10 games (11 IP) thus far in 2015.