Trevor Cahill agrees to long-term contract extension with A’s

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Trevor Cahill and the A’s were said to be on the verge of a long-term contract extension last week and today the two sides made everything official, announcing a deal that’s essentially identical to the extension Clay Buchholz just signed with the Red Sox.

Cahill, like Buchholz, would have been arbitration eligible for the first time next season and could have become a free agent following 2014.

Cahill’s contract is technically being phrased as a five-year, $30.5 million deal with team options for 2016 and 2017, but because his in-progress 2011 is being included in that accounting the new upfront money is really $30.1 million for four years.

Cahill gets $30.1 million for 2012-2015, with the A’s holding a $13 million option or $300,000 buyout for 2016 and a $13.5 million option or $500,000 buyout for 2017.

Buchholz got $30.5 million for 2012-2015, with the Red Sox holding a $13 million option or $250,000 buyout for 2016 and a $13.5 million option or $500,000 buyout for 2017.

And it makes sense that their extensions would be nearly identical. Cahill is a couple years younger than Buchholz, but they have identical service time and extremely similar career numbers. Cahill has a 3.69 ERA in 388 innings. Buchholz has a 3.77 ERA in 374 innings.

Good deals for both teams, as the risk is relatively minimal compared to the potential reward of controlling each pitcher’s first three seasons of free agency at what will no doubt be below-market prices by 2015.

Giants sign Austin Jackson to two-year, $6 million contract

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The Giants announced on Monday night the signing of outfielder Austin Jackson. According to Jon Heyman of FanRag Sports, it’s a two-year, $6 million deal with performance incentives that allow Jackson to earn up to an additional $2.5 million for a total of $8.5 million.

Jackson, who soon turns 31 years old, spent last season with the Indians. In 318 plate appearances, he hit .318/.387/.482 with seven home runs, 35 RBI, and 46 runs scored.

The Giants have been on the hunt for a center fielder and Jackson addresses that need relatively cheaply. Jackson will join Hunter Pence and newcomer Andrew McCutchen in the outfield.