The Giants offered a three-year, $37MM deal to Tim Lincecum, reports John Shea and Susan Slusser of the San Francisco Chronicle. Specifically it'd pay $9.5MM in '10, $12.5MM in '11, and $15MM in '12, buying out three of Lincecum's four arbitration years. Shea says Lincecum's agent Rick Thurman "countered with a proposal north of $40 million." Plus, Thurman wants the first-year salary within a multiyear deal to be close to the $13MM figure they submitted. You have to imagine he'd at least want to top Ryan Howard's first-year arbitration figure of $10MM.
Giants assistant GM Bobby Evans told Shea talks are ongoing, though the sides have not spoken in 72 hours. Shea says "such a lapse in negotiations isn't unusual." If no deal is reached prior, a hearing will be held tomorrow where Lincecum's 2010 salary will be decided at $8MM or $13MM by a three-person panel.
As you know, there's no comparable for Lincecum whether we're talking about his first arbitration year or a multiyear deal. Felix Hernandez and Justin Verlander are not Super Two players and signed extensions after their first arbitration years. But both received about $20-23MM for their first three arbitration years.