The San Francisco Giants have agreed to terms with right-hander Tim Lincecum on a two-year contract that'll keep him in the Bay Area through the 2015 season, the team has announced. As always, the official seal of approval won't be handed out until he passes a physical.
The deal is believed to be for $35 million in total, per Jon Heyman of CBS Sports, and also includes a full no-trade clause. If the dollars are meted out evenly over both years, Timmy stands to make $17.5 million per season. The deal also includes performance bonuses per his agency, Beverly Hills Sports Council.
Until the moment the announcement was made, it was largely assumed that the Giants would at least let Lincecum hit the open market on Nov. 1 so that they could make him a qualifying offer, which would have been a one-year, $14.1 million deal. Lincecum's actual deal blows the qualifying offer out of the water, which may explain why the club didn't wait to lock him down.
The right-hander made $22 million in 2013, but wasn't expected to reach anywhere near that figure in free agency after falling on hard times the last two seasons. After amassing a 2.98 ERA over his first five seasons with the Giants, the two-time Cy Young winner imploded in 2012 and hasn't been able to regain his form since then.
While his July no-hitter gave fans a glimpse of the old Lincecum, his 4.76 ERA in 65 starts over the last two seasons is indication that the old, dominant Timmy may not be coming back.