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UPDATE: Tim Lincecum signs a two-year, $40.5 million deal with the Giants

Jan 24, 2012, 2:31 PM EDT

Tim Lincecum

UPDATE: It’s now confirmed by multiple sources that the deal is done: two-years, $40.5 million.

2:14 PMJon Heyman just tweeted that the Giants and Tim Lincecum are “very, very” close to sealing a two-year deal for “a little over $40 million.”

The existence of such an offer was first reported by Tim Brown of Yahoo! on Saturday. As D.J. noted then, a two-year deal like this would cover Lincecum’s remaining arbitration seasons and allow him to test free agency after 2013. It would also avoid a long term deal which Lincecum is reported not to really want right now.

For the Giants, it avoided the specter of going through arbitration with Lincecum over the next two seasons and, barring some sort of cratering of his performance, being on the hook for more than $45 million, I’d wager.

  1. phukyouk - Jan 24, 2012 at 2:35 PM

    Just in time for that Salary Cap thing….. whatever new contract he gets in 2014 will be backloaded a bit

  2. 1943mrmojorisin1971 - Jan 24, 2012 at 2:37 PM

    Good deal. Other than his K’s declining each year he’s been pretty consistent.

    • WhenMattStairsIsKing - Jan 24, 2012 at 3:54 PM

      And WAR since 2009, and his xFIP and walk numbers are going up. I think he’ll regress into a #2 starter at best.

      • ftbramwell - Jan 24, 2012 at 9:29 PM

        WAR is not a real stat! And why do we care about FIP? It’s just not a better statistic than E.R.A., which determines how many earned runs a pitcher actually gives up! (Although to tell you the truth, WHIP is just as effective.)

  3. - Jan 24, 2012 at 2:41 PM

    He’s kind of good at baseball

  4. randygnyc - Jan 24, 2012 at 2:42 PM

    Well, he turned down 5yrs 100 million yesterday. I figured that’s 80-100 million less than he wants. He’ll slum it for the next 2 years until he he hits FA and gets his 10 year deal.

    • bloodysock - Jan 24, 2012 at 2:59 PM

      A 10 year deal for a pitcher that will turn 30 during the season following free agency? I don’t see it happening.

  5. sonoco - Jan 24, 2012 at 2:45 PM

    So his deal and Zito’s deal expire after 2013. Which one will they try to extend?

  6. test2402 - Jan 24, 2012 at 2:52 PM

    That’s a lot of sticky icky.

  7. dcfan4life - Jan 24, 2012 at 2:58 PM

    I dont get it, 2 years. I know he wanted at least an 8 year deal but 2. At least take the 5 year deal, and when that expires he is only what, 32? Pujols just got an insane deal at that age. Now you risk injury and if its a bad injury your stuck doing another 2 year deal at best. And you lose potentially $100 million. Is this another Scott Boras client, please say yes so he looks worse and worse with every player signed, or not signed, this offseason.

    • bloodysock - Jan 24, 2012 at 3:05 PM

      Lincecum’s agent is Rick Thurman of Beverly Hills Sports Council

    • jwbiii - Jan 24, 2012 at 3:08 PM

      Lincecum is with Beverly Hills/Rick Thurman. Thurman’s other big name client is Hunter Pence.

    • SOBEIT - Jan 24, 2012 at 3:49 PM

      Lincecum and his agent made it pretty clear they are looking for only 2 types of contract deals: a 1 or 2 year deal…like we see today. Or a 7-8yr deal…which we can guess would range between $150-$190M. The Giants offered a 5/100 package and his agent rejected the offer. So the next best thing is a 2 year deal. After the Zito debacle in both years and contract value, you can understand how the Giants might be a little hesitant to offer another mega deal. A large deal taking Lincecum to his late 30’s is just too risky.

      I think the Giants close this deal…then watch to see when to pull the trigger and trade him. Then they trade him and keep Cain. The numbers just don’t add up to keep both Cain and Lincecum even after Zito, Rowand and Huff come off the books, the ballpark mortgage is paid off (2015 I believe) and any number of other factors the Giants create to increase annual revenues.

  8. buffalomafia - Jan 24, 2012 at 3:19 PM

    Why would he want to stay with a team that doesn’t get more help?

    • WhenMattStairsIsKing - Jan 24, 2012 at 3:56 PM

      Great town, great fans – though yeah, they sort of kind of need offense.

  9. APBA Guy - Jan 24, 2012 at 4:17 PM

    Smiles all over town today upon this news being released. Amazing how soon the 49’ers loss has been internalized as a “great year” and this news about Timmy is so well received.

  10. rap49er - Jan 24, 2012 at 8:44 PM

    If he could only run back punts!!!

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