Flaherty would get a $1.9 million, one-year contract if added to the 40-man roster under terms of the deal announced Friday.
He has a .215 batting average with 35 homers and 128 RBIs in six seasons with the Baltimore Orioles. He hit .211 with four RBIs in 48 at-bats over 23 games last year.
Cowgill has a career .234 average with 12 homers and 57 RBIs in six seasons with five teams. He last played in the majors in 2016 with Cleveland.
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