UPDATE: Tim Lincecum signs a two-year, $40.5 million deal with the Giants

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UPDATE: It’s now confirmed by multiple sources that the deal is done: two-years, $40.5 million.

2:14 PMJon Heyman just tweeted that the Giants and Tim Lincecum are “very, very” close to sealing a two-year deal for “a little over $40 million.”

The existence of such an offer was first reported by Tim Brown of Yahoo! on Saturday. As D.J. noted then, a two-year deal like this would cover Lincecum’s remaining arbitration seasons and allow him to test free agency after 2013. It would also avoid a long term deal which Lincecum is reported not to really want right now.

For the Giants, it avoided the specter of going through arbitration with Lincecum over the next two seasons and, barring some sort of cratering of his performance, being on the hook for more than $45 million, I’d wager.

Yankees promote Justus Sheffield

Justus Sheffield
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The Red Sox-Yankees game scheduled for this afternoon has been moved to this evening because of weather, but there are still happenings in the Bronx: the Yankees have called up top pitching prospect Justus Sheffield.

Sheffield, 22, is the Yankees’ highest-ranked prospect, per MLB Pipeline. The lefty was acquired in the Andrew Miller deal back in 2016. In 2018 he made the jump from Double-A Trenton to Triple-A Scranton/Wilkes-Barre with a cumulative 7-6 record in 20 starts and a 2.87 ERA, 3.9 BB/9 and 9.5 SO/9 through 116 innings.

The Yankees reportedly plan is to keep Sheffield in the bullpen for the time being, with his late season shift to a relief role at Scranton designed to get him used to helping out for the Yankees stretch run and, possibly, a playoff run. He’ll likely have a shot at the Yankees’ rotation next spring.