[h2]Contracts extended for Cain, 2 others[/h2]
Henry Schulman, Chronicle Staff Writer
Sunday, March 28, 2010
(03-2
04:00 PDT SCOTTSDALE -- , Ariz. - With three pen strokes Sunday, the Giants made a significant statement to their fans while fattening the bank statements of three of their most important pitchers.
The Giants formally announced new contracts totaling $51.75 million for starter Matt Cain, closer Brian Wilson and left-handed setup man Jeremy Affeldt. The largest of the contracts goes to Cain and ensures the team can preserve its core starting quartet of Cain, Tim Lincecum, Barry Zito and Jonathan Sanchez at least three more years.
"It's our window," general manager Brian Sabean said in announcing deals that were discussed internally long before spring training. "We had a position-player window with (Barry) Bonds and have these guys through '12 now.
"We have cost certainty and the fans have the comfort of knowing these guys are going to be in Giants uniforms helping us win games."
The Giants reworked Cain's current four-year deal and signed him to a new three-year, $27.25 million contract that maintains his $4.25 million salary for this season. It also replaces his 2011 option with a guaranteed $7 million and gives him $15 million for 2012, which would have been his first free-agency year. Cain also gets a $1 million signing bonus payable next year.
The Giants gave Wilson a two-year, $15 million extension that guarantees him $6.5 million in 2011 and $8.5 million in 2012, buying out the middle two of his four arbitration years.
Affeldt was due to earn $4 million in 2010 in the final year of his contract. Instead, he will get $4.5 million this year and next with a $5 million club option for 2012 and a $500,000 buyout.
"Great news for all of them," manager Bruce Bochy said after a dispiriting 7-0 loss to the Padres. "I think this sends a great message from the organization."
In all, ownership agreed to shell out an $43.5 million above its previous commitments to Cain, Affeldt and Wilson. The team gains cost certainty while risking guaranteed money to pitchers who might get hurt. The pitchers enjoy that guaranteed money against the risk of leaving more dollars on the table in arbitration and free agency.
The deals were announced shortly after Cain pitched seven innings and allowed three runs in a minor-league intrasquad game. The longest-tenured Giant took a no-hitter into the sixth. Imagine how big his new contract would have been had he finished the no-no.
Cain said his extension "just shows the appreciation for some of the things I've done with the Giants. It just shows the way they run the organization. I think it's a great situation that we can do something for both sides. Me and (wife) Chelsea are more than ecstatic about doing this."
Cain also said he and his teammates want to be together well into the future.
"We really feed off each other," he said. "We feel we've got great chemistry with everybody. We love this, the fact that we'll be able to play with Wilson the next couple of years, Zito, Timmy, all these guys."
Cain compared the continuity of the Giants' rotation now to the Braves' trio of Greg Maddux, John Smoltz and Tom Glavine, and the A's big three of Zito, Tim Hudson and Mark Mulder.
Wilson, whose 79 saves the last two seasons rank fourth in the majors, said, "Oh, sweet," when told all the deals were done. He pledged to work harder than ever so he can earn another contract "and try to be a Giant for the rest of my career."
