Several outlets are reporting that Lincecum has agreed to a two-year contract worth about $40 million. Henry Schulman of the San Francisco Chronicle reports the deal will net Lincecum $18 million in 2012, $22 million in 2013 and includes a $500,000 bonus for a total of $40.5 million.
Speculation has swirled that Lincecum may opt for a long-term deal to secure his future, but Lincecum has maintained his interest in shorter deals to keep him motivated. There has also been concern among the Giants fan base that the team's light-hitting offense would turn off Lincecum, who could conceivably win more games with a more potent lineup.
But in the end, Lincecum will return to the city by the bay where he has become the face of the team and a hero to the fans.
Only 27, Lincecum has established himself as one of the best pitchers in the game. With his unique delivery and wicked changeup, Lincecum has won two Cy Young Awards through his first five seasons. His resume also includes four All-Star appearances, three seasons as the NL's strikeout king and a slick 2.98 ERA over 156 games pitched.
In 2010, the Giants won the World Series, and Lincecum was again at the forefront, dominating down the stretch and into the postseason. The pitcher went 4-1 in the 2010 postseason with a 2.43 ERA and 43 strikeouts in 37 innings. Two wins came against the Texas Rangers in the World Series, including a Game 5 victory to clinch the championship.
San Francisco has tried to address its offensive deficiencies this offseason after missing the playoffs last season. Outfielders Melky Cabrera and Angel Pagan were added via trade, while the Giants are banking on bounce back efforts from slugger Buster Posey and Freddy Sanchez, who missed most of last year with injuries.
The Giants next order of business may be working out an extension for Lincecum's rotation sidekick, Matt Cain. Cain will make $15 million in 2012 in the last year of his deal and will likely command a contract close to Lincecum's in yearly salary.
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