The Giants agreed to sign Tim Lincecum to a two-year $23MM contract today, avoiding arbitration with the right-hander and giving themselves cost certainty for two of Lincecum's four arbitration years. The deal, which is pending a physical, came together after the Giants delayed their arbitration hearing with the two-time Cy Young Award winner. Lincecum, who was arbitration-eligible for the first time as a Super Two player, filed for $13MM. The Giants countered with $8MM.
Lincecum will make $8MM this year and $13MM next year. He'll also receive a $2MM signing bonus spread over the course of two seasons.
The Giants offered a three-year $37MM deal in advance of Friday's expected hearing, but Lincecum and agent Rick Thurman rejected it. The club had offered Lincecum a two-year $21MM deal before, only to see his representatives counter with $25MM for the same period.
Craig Calcaterra of NBC Sports first reported that the sides had reached a two-year deal. Ken Rosenthal of FOX Sports explained previous negotiations and tweeted the total value of the deal. Jon Heyman of SI.com added the yearly breakdown via Twitter. Yahoo's Tim Brown first reported that the sides had delayed their hearing and were making progress on a deal.