Tim Lincecum and the San Francisco Giants agreed to terms on a two-year deal Friday, a source confirmed to FanHouse’s Ed Price.
The deal is worth $23 million over two years, according to FoxSports.com. Just a week ago, an arbitration hearing seemed almost certain, but since then, progress had been made on a deal and after news leaked out this morning that the hearing, scheduled for Friday, had been postponed because talks were moving forward, it became clear a deal was imminent.
Because Lincecum is a “Super Two,” this deal buys out two of his four arbitration seasons. When the two sides exchanged figures last month, Lincecum asked for $13 million while the Giants offered $8 million.
NBCSports.com is reporting that the first year is for $9.5-10 million, which would make the second year worth closer to the $13 million Lincecum wanted for the upcoming season (SI.com is now reporting that the deal is for $8 million in 2010, $13 million in 2011, and with a $1 million signing bonus for each year).
