Barry Bonds and the San Francisco Giants reached agreement on a US$16-million, one-year contract Thursday night that will keep the controversial slugger in the Bay Area to take aim at baseball's home run record.

The deal includes four performance bonuses that could make the pact worth a total of $20 million, according to a source.

While Oakland, San Diego, St. Louis and other teams showed interest in signing the 42-year-old free agent, the Giants had been considered the front-runners to re-sign their star.

Bonds has 734 home runs and is 22 from breaking Hank Aaron's career record. He has played 14 seasons for the Giants and is coming off a $90-million, five-year contract.

Bonds missed nearly the entire 2005 season after three operations on his right knee, prompting speculation on whether he was almost done. But the left fielder bounced back this year to play 130 games, hitting .270 with 26 homers and 77 runs-batted in.

Shadowed by allegations of steroid use and a target of boo-birds in many opposing parks, Bonds has remained a fan favourite in the Bay Area. He has been tied to the Giants by family and history _ his dad, Bobby, was a popular player with the team; his godfather, Willie Mays, is regarded as the greatest Giant of them all.

The Giants will host the all-star game next year, and can certainly build the event around Bonds as he nears Aaron's mark.

© The Canadian Press, 2007