Matt Cain, San Francisco Giants Finally Agree to 5-Year Extension: Fan’s Reaction

After weeks of wondering whether the San Francisco Giants would accomplish their No. 1 priority of the offseason, the two sides have come to an agreement and accomplished their goal before the self-imposed deadline of April 4, otherwise known as the start of the Giants season.

After extended contract negotiations over the weekend, right-hander Matt Cain and the Giants have agreed on a five-year extension as first reported by John Shea of the San Francisco Chronicle. Worth $100 million over five seasons, Cain will also receive a $5 million signing bonus and his contract has a $7.5 million buyout on the club/vesting player option for 2018.

Although both parties were willing and interested in having a deal done before the start of the season, Giants fans will no longer have to fear seeing Cain in a Los Angeles Dodgers or New York Yankees uniform. Under team control until at least 2017, the Giants gave the pitcher a sizeable paycheck increase. Set to earn about $15 million in the last year of a three-year, $27 million extension he signed in March 2010, Cain will now earn about $22 million annually.

With this signing, the Giants now have their top two starting pitchers (Tim Lincecum and Cain) for at least two more seasons in San Francisco. Pairing them up with rising star Madison Bumgarner, 2011 breakout pitcher Ryan Vogelsong, and former Cy-Young award winner Barry Zito, the Giants not only have one of the most expensive rotation in baseball but also one of the most talented groups of starting pitchers in the major leagues. Seeing how maintaining his pitching has always been a priority of general manager Brian Sabean, the Giants will continue to rely on one of the best pitching staffs in the majors for production every game.

While there was no question whether the Giants should re-sign Cain to an extension (either before the start of the regular season or during free agency), Cain's new deal makes him the highest-paid right-handed pitcher in baseball history. Breaking the former record set by the Dodgers and Kevin Brown ($105 million contract) in 1998, Cain could eventually earn up to $141 million by the end of the 2018 season.

One of the most consistent and reliable starting pitchers in all of baseball, Cain definitely deserves top dollar for his 2.88 ERA and All-Star selection last season. While his new contract and future contract extensions with other star players will continue to make the Giants payroll rise, this expensive contract was necessary to retain the team's longest-tenured player.

Sources:

@JohnSheaHey, Twitter

Matt Cain, Giants agree to five-year, $100 million contract, Bay Area News Group

Matt Cain and the Giants agree to $112.5 million extension, HardballTalk, NBC Sports

Sources: Matt Cain, Giants agree, ESPN

More from this contributor:

Former San Francisco Giants Catcher Bengie Molina Retires After 13 Seasons: Fan's Reaction

San Francisco Giants SP Tim Lincecum's Two-Year Contract Not Big Deal: Fan's Take

Giants Offer Highest Salary in Arbitration History to Tim Lincecum: Fan's Take

Giants Agree to Four Deals Headlined by Sandoval's Three-Year, $17.15 Million Contract: Fan's Take

Giants Give Ryan Vogelsong Two-Year, $8.3 Million Contract: Fan's Take

Austin Chang is a lifelong San Francisco Bay Area native, baseball fan, and supporter of the San Francisco Giants. Follow this contributor on Twitter @_austinchang.

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