Apr 2, 2012, 3:15 PM EDT
Said to be working hard on contract negotiations over the weekend, the Giants just made things official with Cain by announcing a five-year, $112.5 million extension with a sixth-year vesting option.
Cain was already set to earn $15 million this season in the final year of a three-year, $27 million extension signed in March of 2010. That deal covered Cain’s final two arbitration eligible seasons and his first year of free agency. This five-year extension will keep him in San Francisco through his age-32 season in 2017 and the 2018 option includes a $7.5 million buyout.
Obviously any $100 million-plus investment in a pitcher is extremely risky and $22 million per season is a ton, especially for a team that learned (and is still learning) the hard way with Barry Zito, but limiting the commitment to five years and avoiding Cain’s mid-30s lessens the Giants’ risk somewhat and he’s been remarkably consistent with a 3.35 career ERA and at least 190 innings in each of his six full seasons.
On a related note, the Phillies would no doubt be thrilled if Cole Hamels accepted a five-year, $112.5 million deal. Hamels has better secondary numbers than Cain and has pitched in a hitter-friendly ballpark, but their raw numbers are very similar: 3.39 ERA in 1,161 innings for Hamels. 3.35 ERA in 1,317 innings for Cain.
- Shoeless Joe Jackson is not being reinstated 27
- And That Happened: Monday’s scores and highlights 57
- Cubs acquire Austin Jackson from Mariners 22
- Unknown Cuban ballplayer sleeps outside of Dodger Stadium, hoping for a tryout 32
- And That Happened: Sunday’s scores and highlights 74
- Jake Arrieta no-hits the Dodgers with 12 strikeouts 32
- Blue Jays will name Mark Shapiro as the new team president 31
- Lance Lynn expects to make next scheduled start despite suffering ankle injury Saturday 2
- Sarah Palin sticks up for Curt Schilling, tells ESPN to “stick to sports” (266)
- Dan Patrick: When does ESPN cut ties with Curt Schilling? (201)
- Curt Schilling taken off of Little League World Series duty for making a really bad tweet (170)
- Curt Schilling taken off of ESPN’s Sunday Night Baseball telecast this week (134)
- Phillies announcer calls Mets fans “obnoxious” (124)