Just released from the Red Sox, the Giants and a couple other teams might be interested in Brad Penny. It's hard to say what role the Gyros might use him in with Joe Martinez holding down the 5 spot fairly well right now. Also, as this ESPN article details, Penny has a number of innings-based performance bonuses due once he hits 160 innings and beyond.
Buster Olney seems to think the Rockies are the best place for him. All the better reasoning for the Giants to sign him.
I doubt he'd want to work out of the bullpen, so I'm not sure how this would work. Moving Martinez back to the pen would be the obvious move, because he started out the year very well in that role. I guess we'll see.
From Fox Sports' Ken Rosenthal via MLB Trade Rumors:
"He would make sense as a starter for the Giants, who are using left- hander Joe Martinez as the replacement for the injured Randy Johnson. And he would make sense as a reliever or bullpen for the Marlins, for whom he played from 2000 to '04.
The Rockies, Marlins and Giants all had interest in Penny last off- season before Penny signed a one-year, $5 million contract with the Red Sox. His deal also includes separate $500,000 bonuses for reaching 160, 170, 180 and 190 innings, but those will be voided once he is released."
I wouldn't be surprised if the Giants tried to snag Penny just to keep him away from the Rocks and the Blue Bitches. A preemptive strike if you will.