More: The urgency of the Matt Cain deal
Matt Cain is sticking around the Bay Area for a few more seasons after signing his new five-year deal on Monday with the San Francisco Giants. CBSSports.com had some extra details on the deal, as well as some interesting information on the contract historically speaking.
Cain was already set to earn $15 million in 2012 before he began his free agency after the season, so his contract is actually worth around six years, $127.5 million. The player option for $21 million for the 2018 season can be actuated by Cain if he remains a "healthy, full-time starter" in 2017. If he doesn't it becomes a club option. Approximately $108 million of the deal is guaranteed.
Looking at the $127.5 million figure, this contract makes Cain the highest-paid right-handed pitcher in history. Only CC Sabathia and Johan Santana, both lefties, have ever had more guaranteed money than Cain.
In a statement from the team, Giants President & CEO Larry Baer noted the importance of bringing their workhorse back:
"The success of our franchise depends on developing and retaining homegrown talent like Matt Cain," said president and CEO Larry Baer in a statement. "I want to commend Brian Sabean, Bobby Evans, Matt and his representatives for their hard work to keep Matt in the Orange and Black. This is an exciting day for Giants fans everywhere and a fantastic way to kick off the 2012 season."
Cain becomes the 11th player in MLB history to reach the $125 million mark, joining Albert Pujols, Prince Fielder, Joe Mauer, Matt Kemp, Troy Tulowitzki, Adrian Gonzalez, Alex Rodriguez, Ryan Braun, Ryan Howard and Ryan Zimmerman.
With all this guaranteed money flying around it's got some to thinking, like National Football Post's Andrew Brandt, who had quite the intriguing tweet earlier about the deal:
Matt Cain receives an extension worth $108M guaranteed, per @Buster_ESPN.$10M more than Brady/Manning/Rodger/Brees combined.— Andrew Brandt (@adbrandt) April 2, 2012
Some very tasty food for thought indeed.
Was Matt Cain worth this much? Was he worth more? For more discussion and analysis, make sure you head over to McCovey Chronicles to get in ont he action.