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Giants Sign Cain Long-Term

UPDATE: Cain did indeed settle for Lowry money.  I guess he places a large price on security and certainty.

The Giants will announce later today that they have signed Matt Cain to a four-year contract with a fifth-year option.

We don't know the details quite yet, but MLB.com's Chris Haft theorizes that the contract will resemble Noah Lowry's - four years, $9.25MM with a $6.25MM option year.  El Lefty Malo, a fine Giants blog, disagrees.  They argue that Cain's contract should be between that of Lowry's and the projected earnings of Dontrelle Willis, who is not on a long-term deal.  Throwing in some inflation, they arrive at a total package of five years and $26MM.  We should know soon enough.

In 2006, Cain had five one-hit starts.  One of them was a complete game gem.  It's got to be only a matter of time before this guy tosses a no-hitter. That'd be a cool Bill James stat - % likelihood of throwing a no-hitter. 

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