Matt Cain Signs for $127.5 million and Other Fun Facts
As reported by Ken Rosenthal of FOX Sports and Henry Schulman of the San Francisco Chronicle, the Giants just inked starting pitcher Matt Cain to a $127.5 million contract extension through 2017. Cain's contract set an all time record for right-handed pitchers signing a multi-year deal; he will average $21.25 million a year throughout the term of the contract.
Matt Cain was scheduled to finish a three year $27.25m contract extension in 2012, earning $15m this season. Both sides agreed to drop the final year on that contract so that a $5m signing bonus could be added to the $15m base salary, which actually makes this a six year deal from 2012-2017. Matt Cain will get a $15m salary in 2012 plus the $5m signing bonus, and then receive $20m a year from 2013 through 2017. There is a club option in 2018 for $21m if specific inning numbers are met in 2016-17, or a $7.5m contract buyout.
As noted in a number of news stories on Cain's signing he has put up excellent, workman-like numbers in his seven year career as a Giant starter. Cain sports a 1.196 career WHIP and posted five consecutive 200 inning seasons from 2007 through 2011. Since 2005, his first year in the big leagues, opposing hitters have averaged .227 with a .660 OPS in Cain's starts and his ERA stands at 3.35.
During the Giants World Championship run in 2010, Matt Cain had three starts, pitched 21.1 innings, gave up no earned runs (1 unearned run) and posted a victory over the Phillies in the NLCS and a win over the Texas Rangers in the World Series.
What is less universally highlighted is that Cain has a sub-.500 career win-loss record: 69 wins and 73 losses. Credit the Giants' lack of offense for that anomaly. As recently as ten years ago, before advanced statistical analysis of actual player performance was recognized by the MLB establishment, a losing record alone would have likely been a disqualifier for any pitcher seeking a multi-year high end contract.
Matt Cain's performance numbers would have made him a prime free agent target after the 2012 season for teams like the New York Yankees, the LA Dodgers, and the Chicago Cubs.
Two comparisons: 1) Contract structures-- Matt Cain vs. Barry Zito; and, 2) Matt Cain's numbers compared to Cole Hamels of the Philadelphia Phillies. Cain's high loss total is a direct result of the poor offensive support he has received throughout his Giants' career.
Hamels received a one year contract extension in 2012 for $15 and is expecting a multi-year contract offer similar to Cain's from Philadelphia. If the Phillies don't sign him, Hamels becomes a free agent at the end of this season. No doubt the Yankees, Dodgers, and Cubs are hoping that deal will not get done.
| Contract term | Total salary | Highest salary year |
Extension/buy out year | Career win-loss at signing | |
| Barry Zito | 7 years 2007-2013 |
$126m | 2013 $20m | 2014 $18m or $7m buyout |
102-63 |
| Matt Cain | 6 years 2012-2017 |
$127.5m | 2013-17 $20m | 2018 $21m or $7.5m buyout |
69-73 |
| Career W/L | Career WHIP | Career IP | Career SO/BB | Post season win-loss WHIP |
|
| Cole Hamels | 74-54 | 1.141 | 1,161.1 | 1,091 / 292 | 7-4 1.053 |
| Matt Cain | 69-73 | 1.196 | 1,317.1 | 1,085 / 473 | 2-0 .938 |






It is no secret that the Philadelphia Phillies' infield situation has dramatically deteriorated with chronic injuries sidelining second baseman Chase Utley, first baseman Ryan Howard and third baseman Placido Polanco. Fontenot and/or Theriot could be valuable placeholders for Philadelphia through the first month of the season as they attempt to sort out, and maybe rebuild, their crumbling infield.
The Giants could concentrate on pitching because they had locked up an elite offensive chip no other baseball team could match: Barry Bonds. For years the idea was to construct a series of teams with a viable supporting cast of hitters around Bonds. Jeff Kent (1997), Ellis Burks (2000), Reggie Sanders (2002), Marquis Grissom and Jose Cruz (2003) were among the many veteran players General Manager Brian Sabean cherry picked in support of the Bonds offense.
In the middle of a parade of elderly shortstops and minor league hitters who couldn't, very positive things started to happen: GM Brian Sabean's pitching-centric draft strategy began producing picks like Matt Cain, Tim Lincecum, and Madison Bumgarner who developed and bloomed into top of the line starters. It all came together in 2010 with the addition of just enough hitting to propel the Giants to the post season and a World Championship.
Beyond the obligatory interviews and the endless "one big question looms for the San Francisco Giants in 2012" stories is Buster Posey, a young baseball player in his third year in the Big Leagues after missing four months of his second year. And we can't really know what a talented Major League player goes through trying to rehab from major injuries and significant time away from the playing field.
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Why celebrate Fielder's mega-signing with a difficult commitment to better health and renewed recognition of the fires of hell? Because apparently the Los Angeles Dodgers offered Fielder everything but Tommy Lasorda's Diners Club card to try and get the massive first baseman to sign a multiple year contract to wear an 8XL size Dodger-blue uniform. But it didn't happen.
On the Oakland A's relocation front, the Giants brain trust will have to make a final decision on whether to, a) lock horns with about 90% of all Major League Baseball owners and fight to keep their territorial rights in San Jose and the Silicon Valley; or, b) appease their Mercedes driving/50 year old scotch drinking/leather chair sitting brethren and settle for what must ultimately be a modest buyout in the name of family peace.