The Giants re-signed starting pitcher Tim Lincecum on Wednesday, agreeing to a 2 year deal worth $35 million. Lincecum's decision to re-sign with the team before free agency is a bit surprising, given the fact that he received only a 2 year deal (albeit worth $17.5 million per year) rather than an extended contract.
What it means for Lincecum: Lincecum now has two more years to try and rebuild his market value before he hits free agency after the 2015 season. Staying in San Francisco means he has the chance to do so without the distractions of a new city, team, fan base, etc., all while competing for another World Series Championship.
While Lincecum had a chance to get a contract within the 3-5 year range from another team on the free agent market, the contract here is still rather impressive for the 29 year old former Cy Young winner.
His average annual salary dips from $20 million in his last contract (a number that would have probably dipped no matter which contract he signed) to $17.5 million, meaning his sub-par 2013 season theoretically cost him $2.5 million a year.
He also receives a full no-trade clause, meaning he just signed on for the full two years, unless he approves a trade to go somewhere else during that time.
From Lincecum's perspective he made out fairly well with this deal despite forgoing the free agent market for it. He hits free agency again after his age 31 season, where he can still garner another solid contract, as long as he doesn't completely burn out in the next two years.
[caption id="attachment_555" align="aligncenter" width="540" caption="Fans got their wish, as Lincecum stays through 2015"]
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What it means for the Giants: San Francisco now has Matt Cain, Madison Bumgarner, and Lincecum under contract before the hot stove season begins. With Barry Zito unlikely to return, and Ryan Vogelsong at the hands of a 2014 club option, the Giants at least know the front three of the rotation is set.
While they will do their due diligence in scouting the pitching market, the re-signing of Lincecum diminishes the chances of the team signing another veteran starter. If Yusmeiro Petit is legit (he showed flashes in 2013), the Giants conceivably have their starting rotation set depending on their decision with Vogelsong.
The Giants' biggest off-season need now becomes finding a competent starting left fielder.
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