The Giants and representatives for Matt Cain failed to make progress towards a contract extension during talks today according to Ken Rosenthal of FOX Sports. No further discussions are planned, and although Cain has not set a deadline for a new deal, neither he nor the team wants to be distracted by talks during the regular season.
The 27-year-old right-hander is seeking a contract that reflects his standing as one the best pitchers in baeball, but the Giants are hesitant to pay Cain free agent money a full year before he's scheduled to hit the open market. Rosenthal opines that he could receive a six-year contract worth $20MM annually as a free agent, which would make him the seventh pitcher in baseball history to secure a nine-figure deal.
Earlier this month we heard that the two sides had positive momentum towards a new pact. Cain, a CAA Sports client, has signed extensions twice before, with the second contract buying out one free agent year and giving him a $15MM salary in 2012. He's pitched to a 3.35 ERA in his seven big league seasons, topping the 200 IP plateau in each of the last five years.