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Lincecum settles with the Giants on a two-year deal

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.

  1. ecp - Feb 12, 2010 at 11:17 AM

    “Source?”

  2. Matt - Feb 12, 2010 at 11:50 AM

    So the only reason why he’d accept this deal over the rumored 3/$37m from yesterday is that he figures he’ll get even more in his final arb year?
    I guess I don’t fully understand these things, but congrats to him for getting more money than I’ll ever see in 3 lifetimes.

  3. YX - Feb 12, 2010 at 12:04 PM

    I was starting to work up the injustice (for Tim), then I remembered what I make and started sulking.

  4. moreflagsmorefun - Feb 12, 2010 at 12:59 PM

    can you pitch like him?

  5. Jonny5 - Feb 12, 2010 at 1:21 PM

    I love it!! And he loves to par-tay!!! I love this site. It shows all of our beloved sports stars in their most glorious of moments..
    http://drunkathlete.com/2009/07/07/tim-lincecum-cy-young-shuffle/

  6. Ryan - Feb 12, 2010 at 1:42 PM

    if tim pitches like he has the past 2.5 years, he could potentially bring in over 20mil in arbitration…much more than the $15 mil in that 3 yr contract

  7. Ernie - Feb 12, 2010 at 2:57 PM

    As a Giants fan for my nearly 59 years,I’m glad to see we did not give him a reason to want to move on when the time comes.

  8. formerSF dude - Feb 13, 2010 at 4:17 PM

    why is the writer of the post perplexed at the numbers? Does a million more buy that much a better yacht? I’m a Cubs fan and Lincecum is my Mark Prior, lol. The dude is a joy to behold. The Giants are my second favorite team and I’m glad they’ve locked him down for a couple years.

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