Matt Cain and the Giants agree to $112.5 million extension

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First Joey Votto and now Matt Cain.

Said to be working hard on contract negotiations over the weekend, the Giants just made things official with Cain by announcing a five-year, $112.5 million extension with a sixth-year vesting option.

Cain was already set to earn $15 million this season in the final year of a three-year, $27 million extension signed in March of 2010. That deal covered Cain’s final two arbitration eligible seasons and his first year of free agency. This five-year extension will keep him in San Francisco through his age-32 season in 2017 and the 2018 option includes a $7.5 million buyout.

Obviously any $100 million-plus investment in a pitcher is extremely risky and $22 million per season is a ton, especially for a team that learned (and is still learning) the hard way with Barry Zito, but limiting the commitment to five years and avoiding Cain’s mid-30s lessens the Giants’ risk somewhat and he’s been remarkably consistent with a 3.35 career ERA and at least 190 innings in each of his six full seasons.

On a related note, the Phillies would no doubt be thrilled if Cole Hamels accepted a five-year, $112.5 million deal. Hamels has better secondary numbers than Cain and has pitched in a hitter-friendly ballpark, but their raw numbers are very similar: 3.39 ERA in 1,161 innings for Hamels. 3.35 ERA in 1,317 innings for Cain.

Rangers don’t plan to make qualifying offer to Adrián Beltré

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Rangers GM Jon Daniels said he doesn’t expect the club to make a $17.9 million qualifying offer to free agent third baseman Adrián Beltré, MLB.com’s T.R. Sullivan reports. Daniels has been in touch with the 39-year-old, who may retire.

Beltré battled hip and hamstring issues throughout the past season, limiting him to 119 games. He hit .273/.328/.434 with 15 home runs and 65 RBI in 481 plate appearances. Going by adjusted OPS, his mark of 98 — 100 is average — was his lowest in a season since 2009 with the Mariners. Beltré’s career average is 116 and he put up a 132 in 2017 and 128 in ’16.

Beltré appears to have some stuff left in the tank. He may not be an All-Star-caliber player anymore, but he can still hit at an average level and he is still an above-average defender. It’s just a matter of his body holding up to allow him to do what he needs to do. If Beltré does decide to re-up with the Rangers for 2019, the club will be prepared to move Isiah Kiner-Falefa or Jurickson Profar over to the hot corner as they did in 2018 in the event Beltré gets bitten by the injury bug.