Feb. 12, 2010
By Janie McCauley
SAN FRANCISCO - Former Husky baseball star Tim Lincecum and the San Francisco Giants reached a preliminary agreement on a $23 million, two-year contract ahead of the scheduled start of an arbitration hearing.
The two-time reigning NL Cy Young Award winner had been set to ask for an arbitration-record $13 million salary for 2010 during a hearing Friday in St. Petersburg, Fla.
Lincecum, who won the 2006 Golden Spikes Award as a junior at the UW, gets a $2 million signing bonus, $8 million this year, $13 million in 2011 and the chance to earn performance and award bonuses. The agreement is subject to a physical.
The tiny guy his teammates call "Franchise" and "Freak" is getting his nice raise from his $650,000 salary last year.
This has to be a big relief for both sides heading into the start of spring training next week in Scottsdale, Ariz. The Giants offered their ace $8 million when the parties exchanged numbers last month, and there was thought they might have lost and had to pay him even more come 2011. Lincecum, who is eligible for free agency after the 2013 season, said he realized through the process there's a tough business side to all this.
Lincecum, already a two-time All-Star, owns a 40-17 record and 2.90 ERA with 676 strikeouts in three big league seasons. He won 18 games in his first Cy Young season of 2008, then 15 to win again last season after leading the league with 261 strikeouts and tying for top marks in the NL with four complete games and two shutouts.