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.

Zach Davies replaces Gio Gonzalez on the Brewers roster

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Major League Baseball just announced that it has approved a roster substitution for the Milwaukee Brewers due to the ankle injury sustained by Gio Gonzalez: right-handed pitcher Zach Davies will take his place. In accordance with league rules, Gonzalez will be ineligible to return if the Brewers make it to the World Series.

That rule is designed to prevent roster gamesmanship such as having a pitcher fake an injury after he’s done being used in an effort to give a team a fresh arm in a short series. A second layer on that is an independent consult with the league, which may approve or disapprove the request based on the specific facts and circumstances of the case. In this case, Dr. Gary Green, MLB’s Medical Director, confirmed Gonzalez’s injury after communicating with the Brewers’ evaluating physician. Not that anyone can really suggest that Gonzalez was faking. The dude’s ankle went sideways.

That being said, this is a benefit to the Brewers at least for the short term. Davies did not have a fantastic season, going 2-7 with a 4.77 ERA in 13 starts and failing to make the Brewers’ initial postseason roster, but he is fresh — he hasn’t pitched since September 28 — which could prove very useful for Craig Counsell and the Brewers after last night’s 13-inning game.