ST. PETERSBURG -- The Tampa Bay Rays have finalized a two-year, $12.5 million contract with free agent catcher Wilson Ramos.

The signing announced Monday provides the 29-year-old, who's recovering a torn anterior cruciate ligament in his right knee, an opportunity to earn an additional $5.75 million in incentives.

Ramos was a NL all-star last season with the Washington Nationals, batting .307 with 22 homers and 80 RBIs in 131 games. He's expected to return from his knee injury at some point next season.

Senior vice president of baseball operations Chaim Bloom said the team is excited about what Ramos potentially adds on both offense and defense, adding that when healthy "Ramos is one of the best all-around catchers in baseball."

The Rays cleared room on the 40-man roster by designating catcher Justin O'Conner for assignment.

Ramos made his major league debut with Minnesota in 2010. He was dealt to the Nationals at the trade deadline that season and has batted .269 with 83 homers and 321 RBIs over portions of seven major league seasons.