According to the San Francisco Chronicle's John Shea on Twitter, the San Francisco Giants and right handed pitcher Matt Cain have come to terms on a new long-term contract, effectively keeping him with the Black and Orange through the next five years and a large chunk of his free agency as well.
Shea notes that the deal comes with a $5 million signing bonus, as well as a $7.5 million club/vesting option in 2018. All in all that brings the deal to around $107.5 million for Cain, dishing out about $22 million to the seventh year veteran. CSN Bay Area's Andrew Baggarly notes that Cain has no-trade protection throughout his contract as well.
This is a much more team friendly deal than the two-year $40.5 million deal taken by Tim Lincecum back in January, though it will keep their one-two punch intact for at least two more seasons in San Francisco.
Cain owns a 69-73 career record along with 3.35 ERA, 1085 strikeouts, and a 1.20 WHIP.
For more on Cain's new deal and the Giants in general, please check out McCovey Chronicles.