After extended contract negotiations over the weekend, right-hander Matt Cain and the Giants have agreed on a five-year extension as first reported by John Shea of the San Francisco Chronicle. Worth $100 million over five seasons, Cain will also receive a $5 million signing bonus and his contract has a $7.5 million buyout on the club/vesting player option for 2018.
Although both parties were willing and interested in having a deal done before the start of the season, Giants fans will no longer have to fear seeing Cain in a Los Angeles Dodgers or New York Yankees uniform. Under team control until at least 2017, the Giants gave the pitcher a sizeable paycheck increase. Set to earn about $15 million in the last year of a three-year, $27 million extension he signed in March 2010, Cain will now earn about $22 million annually.
http://sports.yahoo.com/mlb/news?slug=ycn-11181476
