Feb 12, 2010, 11:10 AM EST
The Giants and Tim Lincecum have agreed to a two-year $23 million contract today, avoiding arbitration. The exact split of the dollars across those two years has still not been confirmed. My source is telling me that the first year of the deal will be between $9.5-$10 million. Jon Heyman, in contrast, is reporting that it’s $8 million in 2010, $13 million in 2011 with a $2 million signing bonus, paid out at a million a year. (UPDATE: I’m told that, for whatever reason, the union values signing bonuses as all applying to the first year of the deal, while MLB prorates it over the life of the deal. Accordingly, both my number and Heyman’s is right. To the union, Lincecum is making $10 million in 2010. To MLB, he’s making $8 million in salary + $1 million in signing bonus).
Either way, this deal has me puzzled, because it sounds less appealing in most respects than the three year, $37 million offer Lincecum reportedly rejected. I understand why the Giants and Major League Baseball would want this — they consider it extremely important that Ryan Howard’s record $10 million first year arbitration award not be exceeded — but I’m not sure what’s in it for Lincecum. Security, sure, but it comes at a pretty hefty cost.
Whatever the case, the Giants have their ace, Tim Lincecum is a very rich man, and we won’t have to go through this again with Timmy — a man who is arbitration eligible for four years due to his super two status — until 2012.
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- Justin Upton traded to the Padres for three prospects 79
- Bud Selig will get a $6 million a year pension. Which is obscene. 141
- Jake Peavy agrees to a two-year, $24 million deal to stay with the San Francisco Giants 24
- Matt Kemp has officially been traded to the Padres 29
- Padres acquire catcher Derek Norris from Athletics 37
- St. Petersburg City Council votes down deal to allow Rays to look for new stadium site 90
- The United States will seek to normalize relations with Cuba (144)
- Bud Selig will get a $6 million a year pension. Which is obscene. (141)
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- Rays, Padres, Nationals agree to 11-player trade (97)
- Chase Headley signs a four-year deal with the Yankees worth at least $52 million. (95)