5:31pm: Henry Schulman of The San Francisco Chronicle reports that the contract is worth $6MM a year, so $12MM total. Sanchez takes a $2.1MM pay cut in 2010, but ends up with more guaranteed money in the long run.
5:17pm: The Giants have re-signed second baseman Freddy Sanchez to a two-year deal, according to CSNBayArea.com. The terms of the contract have not been released.
The 31-year-old Sanchez hit .284/.295/.324 in just 107 plate appearances for the Giants after coming over from the Pirates at the trade deadline, missing time with a strained shoulder and a torn meniscus in his left knee. His $8.1MM option for 2010 did not vest, and the team decided that instead of picking it up or buying Sanchez out for $600K, they're better off renegotiating a new deal.
