Phillies sign Chad Billingsley to 1-year contract

The Philadelphia Phillies have signed right-hander Chad Billingsley to a one-year contract, the team announced Thursday.

The veteran will make $1.5 million in 2015, but can earn more with performance bonuses.

Billingsley, who boasts an 81-61 career record with a 3.65 ERA, is coming off elbow surgery to repair a torn flexor tendon, and became a free agent after the Los Angeles Dodgers declined his 2015 option.

The 30-year-old should provide depth in the Phillies' rotation should the club decide to deal Cole Hamels and/or Cliff Lee at some point.