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Snell, Giants agree to two-year, $62M contract with opt-out

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After throwing a complete game against the San Diego Padres late last season, Giants ace Logan Webb shied away from Cy Young Award talk, saying Blake Snell certainly would win the award.

Five months later, the two will resume that competition as teammates.

The Giants are in agreement on a two-year, $62 million deal with Snell, the team announced Tuesday.

The deal, first reported by Jon Heyman of the New York Post on Monday and then confirmed by NBC Sports Bay Area, contains an opt-out after the first season.

Per the Giants, Snell will earn a $15 million salary in 2024 while also receiving a $17 million signing bonus, payable on January 15, 2026. Snell will earn $30 million in 2025, of which $15 million will be deferred and paid on July 1, 2027. Snell also will make an annual donation to the Giants Community Fund, which includes $160,000 in 2024 and $150,000 in 2025. 

Snell posted a jersey swap of himself in a Giants uniform on his Instagram shortly after news of the agreement broke.

The deal gives the Giants the most accomplished starter on the market this offseason, and pairs Webb with a 31-year-old who is a two-time Cy Young winner and is coming off a season in which he led MLB with a 2.25 ERA.

The Giants were patient all offseason long and found themselves being the best home for Snell, who chased a much bigger deal earlier in the offseason but ultimately settled for a chance to get back on the open market. For the Giants, who have shied away from long-term deals for free-agent starters, it's a no-brainer.

In Snell, they're adding one of the most dominant starters in the big leagues, one who made 32 starts last season for the San Diego Padres and got to that 2.25 ERA in an odd way. Snell walked 99 batters in 180 innings, but he allowed just 115 hits and struck out 234 batters. He allowed just 19 runs over his final 23 starts, a run that led to Snell locking up 28 of 30 first-place Cy Young votes.

Command always has been an issue for the longtime Tampa Bay Ray, but he might have the best four-pitch repertoire in the game. Snell's fastball averaged 95.5 mph last season, and opponents hit under .200 against his curveball, changeup and slider.

Snell now will slide in alongside Webb in a rotation that desperately needed the early season boost and should be one of the NL's best if all goes according to plan. The Giants expect Alex Cobb back soon and Robbie Ray, another former Cy Young Award winner, back around the middle of the season. They're also confident that Kyle Harrison, who had been lined up as their No. 2, is poised for a breakout.

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