The Giants went with the cheap closer:

They have reached an agreement with free-agent closer Mark Melancon. The deal is pending medical review, but Buster Olney reports Melancon’s contract will be for four years and $62 million. The largest free-agent contact ever given to a closer (for now anyway, until Aroldis Chapman and/or Kenley Jansen sign somewhere), it’s money well spent for a Giants team that blew more leads than Inspector Gadget.

If one is going to sign a closer, why waste money on Chapman and Jansen when you can get most of what they give you for $30 million less. Both Jansen and Melancon recorded 47 saves last season. Jansen is worth more due to his much higher strike out rate. Melancon, however, didn’t have many problems getting the other outs. In terms of seasonal age, Melancon is three years older, than Jansen which will also hurt his value. Closers pitch so little that any one season is a small sample size. Even three seasons is a small sample size, which means there is plenty of risk. In this case, the Giants are spending less on the risk than the teams that sign Chapman and Jansen.