UPDATE: Giants hand Cain three-year extension

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cain headshot.JPGUPDATE:  Baggarly hears that Cain’s salary will remain at $4.5 million this season, but jumps to around $8 million in 2011 and north of $15 million for 2012.  All things considered, it’s a great deal for the Giants.

3:38pm:  The San Francisco Chronicle’s Henry Schulman reports that it’s a three-year deal. Cain is getting a restructured sum this year and a raise on his $6.25 million option in 2011. Financial terms aren’t yet available, though it’s safe to guess that he will also be making big bucks in 2012.

3:20pm:  Andrew Baggarly of the San Jose Mercury News hears that the Giants will announce an extension for right-hander Matt Cain on Sunday afternoon.

It has been a busy few days in Giants camp, with left-handed setup man Jeremy Affeldt landing a two-year, $9.5 million contract extension on Wednesday and 28-year-old closer Brian Wilson agreeing to a new deal just a few days later.

It’s not clear what kind of money Cain will receive.  He’s just 25 years of age and went 14-8 last season with a 2.89 ERA and 1.18 WHIP, so we’d have to think his asking price was fairly high in negotiations.  The righty is entering the final season of a four-year, $9 million extension signed back in 2007.  That deal included a $6.25 million club option for 2011.

Report: Arquimedes Caminero likely to sign with Yomiuri Giants

SEATTLE, WA - AUGUST 21: Arquimedes Caminero #48 of the Seattle Mariners delivers a pitch during a game against the Milwaukee Brewers at Safeco Field on August 21, 2016 in Seattle, Washington. The Brewers won the game 7-6. (Photo by Stephen Brashear/Getty Images)
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Mariners’ right-hander Arquimedes Caminero is nearing a deal with the Yomiuri Giants of Nippon Professional Baseball, according to Bob Dutton of the Tacoma News Tribune. The club has reportedly agreed to sell the 29-year-old’s contract, Dutton writes, though no official move has been announced by either team yet. Caminero is under club control through 2020 and currently ineligible for arbitration.

The right-hander began the 2016 season with the Pirates but was sent to the Mariners in a trade for Seattle minor leaguers Jake Brentz and Pedro Vasquez in order to clear space in the Bucs’ bullpen. With the Mariners, Caminero produced a 3.66 ERA and 8.2 K/9 through 19 2/3 innings in the second half of the year. Although he boasts an electric fastball, one which consistently averaged 98.7 m.p.h. in 2016, his success rate has been tempered by poor control throughout his major league career. According to Dutton, the Mariners’ willingness to sell Caminero’s contract was a strong indication that they did not see him as a viable contender for their 2017 bullpen or as a potential trade chip further down the line.

Should the deal go through, the right-hander will be the second former Mariner to sign with a Japanese club for the 2017 season. Per Dutton’s report, outfielder Stefen Romero also picked up a contract with the Orix Buffaloes of NPB in late November.

Gerrit Cole set to begin throwing program

PITTSBURGH, PA - AUGUST 24:  Gerrit Cole #45 of the Pittsburgh Pirates sits in the dugout in the second inning during the game against the Houston Astros at PNC Park on August 24, 2016 in Pittsburgh, Pennsylvania. (Photo by Justin Berl/Getty Images)
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During the Pirates’ FanFest on Saturday, right-hander Gerrit Cole announced that he is back up to full health after being shut down with elbow inflammation in September. Per Rob Biertempfel of the Pittsburgh Tribune-Review, Cole said he’ll start a throwing program on Monday as he works on regaining his form for the 2017 season.

The 26-year-old pitched through 116 innings for the Pirates in 2016, delivering a 3.88 ERA and 2.5 WARP before landing on the disabled list in June with a triceps strain and again in August with elbow inflammation. It was a steep drop for the right-hander, who saw a considerable spike in his ERA and BB/9 rate and struggled to strike out batters at the 8.7 mark he managed in 2015.

The upside? Inflammation was the worst of Cole’s issues in 2016, and while the newfound health issues didn’t help his case for an extension, a more serious injury doesn’t appear to be on the horizon.