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.

Brewers to give Mike Moustakas a look at second base

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The Brewers reportedly signed third baseman Mike Moustakas to a one-year, $10 million contract on Sunday. While the deal is not yet official, MLB.com’s Adam McCalvy reports that the Brewers plan to give Moustakas a look at second base during spring training. If all goes well, he will be the primary second baseman and Travis Shaw will stay at third base.

The initial thought was that Moustakas would simply take over at third base for the more versatile Shaw. Moustakas has spent 8,035 of his career defensive innings at third base, 35 innings at first base, and none at second. In fact, he has never played second base as a pro player. Shaw, meanwhile, has spent 268 of his 4,073 1/3 defensive innings in the majors at second base and played there as recently as October.

This is certainly an interesting wrinkle to signing Moustakas, who is a decent third baseman. He was victimized by another slow free agent market, not signing until March last year on a $6.5 million deal with a $15 million mutual option for this season. That option was declined, obviously, and he ended up signing for $5 million cheaper here in February as the Brewers waited him out. Notably, Moustakas did not have qualifying offer compensation attached to him this time around.

Last season, between the Royals and Brewers, the 30-year-old Moustakas hit .251/.315/.459 with 28 home runs and 95 RBI in 635 plate appearances.