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.

David Price has opted out of the 2020 season

David Price opts out of season
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David Price has opted out of the 2020 season. he’s the biggest star to do so to date. He said the that he will not play the 2020 season, citing health concerns because of the coronavirus pandemic.

Price joins Ryan Zimmerman and Joe Ross of the Washington Nationals, Ian Desmond of the Colorado Rockies, Mike Leake of the Arizona Diamondbacks, and free agent Tyson Ross on the list of players who have chosen not to take part in the season.

Price, who was traded from the Boston Red Sox to the Dodgers in a five-player deal in February, previously agreed to pay more than 200 Dodgers minor leaguers $1,000 each to make up for lost wages. He was poised to enter the fifth season of a seven-year, $217 million contract he signed with the Red Sox in December of 2015. Per the terms of the agreement between the MLBPA and MLB, Price will not be paid for the 2020 season.