Bob Nightengale of USA Today is reporting that the Giants and reliever Jeremy Affeldt have agreed to a two-year contract extension worth $9.5MM. Nightengale tweets that the deal should be announced tomorrow.
Affeldt was due to earn $4MM from San Francisco this season, which would have been the final year of the two-year, $8MM pact he signed after the 2008 season. Under the new contract, Affeldt will make a guaranteed $4.5MM in both 2010 and 2011. For the 2011 season, the Giants can either pick up an option on Affeldt that would pay the left-hander $5MM for the year, or the club can buy him out for $500K.
The 30-year-old enjoyed the best season of his eight-year career in 2009. He posted a career-low 1.73 ERA in 74 appearances with San Francisco, and tied Minnesota's Matt Guerrier for the major league lead in holds with 33.