The San Francisco Giants have agreed to a five-year, $112.5 million extension with star pitcher Matt Cain, according to several reports, including this one from the San Jose Mercury News.
On its face, the deal is actually worth $100 million and a $5 million signing bonus, but other buyout options based on team decision raise the total value of the deal to $112.5 million.
Matt Cain will stay in San Francisco through the 2017 season under the terms of the deal, with a mutual team/player option to be decided upon at that time for the 2018 season given another extension is not signed in the interim.
The Giants have made a smart move here by locking up their two top pitchers, Cain, and No. 1 starter Tim Lincecum to long-term deals prior to the first pitch, to avoid any negotiations during the season or concerns to linger.
Matt Cain had a solid season by his standards, but should improve in 2012. During the 2011 campaign, Cain posted a 2.88 earned runs average while striking out 173 and only walking 63.
His 7.27 K/9 and 2.56 BB/9 was the best combination of the year, and the fact he only won 12 games in 33 starts had much more to do with the Giants’ overall lack of run production in comparison to their World Championship summer in 2010.
With Tim Lincecum and Matt Cain facing opposing teams on consecutive days for the upcoming summer– injuries notwithstanding– the Giants have a luxury few teams can either afford, or are lucky enough to assemble.
Other stories on Matt Cain’s contract extension:
Giants sign Matt Cain to 5-year, $112.5 million extension: http://cbsprt.co/HFjDUd
Matt Cain Agrees to Five-Year Extension: http://sbn.to/HEUyHL
Sources: Matt Cain, Giants Agree: http://es.pn/H4KiJa