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.

Shawn Tolleson retires from baseball

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Evan Grant of the Dallas Morning News reports that reliever Shawn Tolleson is retiring from baseball. The right-hander experienced a setback in his recovery from Tommy John surgery last week.

Tolleson, who turns 31 years old on Saturday, last pitched in the majors in 2016. He had two very good years out of the bullpen for the Rangers in 2014-15, posting an aggregate 2.88 ERA with 145 strikeouts and 45 walks across 144 innings.

Tolleson signed a one-year deal with the Rays in January 2017 before undergoing Tommy John surgery several months later. The Rangers inked him to a minor league contract in December 2017, but he wasn’t able to work his way back.