Blake Snell’s Contract Details With San Francisco Giants Unveiled

On Monday night, Blake Snell and the San Francisco Giants agreed to a two-year contract worth $62 million that includes an opt-out after the first season.

The deal was confirmed by Susan Slusser of the San Francisco Chronicle who wrote, “The contract includes a $17 million signing bonus payable in January 2026 and will pay him $15 million in 2024, sources told the Chronicle.”

Slusser also added that Snell is expected to undergo a physical with the team on Tuesday and a news conference is likely to be scheduled for Wednesday and he could pitch for the Giants in Spring Training this week.

Daniel Epstein of Forbes reported Monday that by devoting $31 million to Snell this season, the Giants have now surpassed the $237 million luxury tax threshold, which means as a first-time payor, they owe an additional 20% on every dollar above the limit, which is a tax penalty of almost $3 million.

The Houston Astros and the Giants were in attendance at Snell’s four simulated innings on Friday in Seattle. However, per Bob Nightengale of USA Today, the Giants emerged as favorites on Sunday after the Houston Astros and New York Yankees declined to pay Snell more than $30 million a year.

By Snell joining the Giants, he is reunited with manager Bob Melvin who was with him and the San Diego Padres in 2022-23. He also joins former Tampa Bay Rays teammate Alex Cobb.

The 31-year-old immediately bolsters a starting rotation that features Logan Webb, who finished runner-up to Snell in Cy Young voting last year. Top pitching prospect Kyle Harrison, Keaton Winn, and reliever-turned-starter Jordan Hicks are expected to join them. Cobb is on track to join the Giants in early May after having hip surgery. The Giants’ other Cy Young Award winner Robbie Ray, who had Tommy John, should return after the All-Star Break.

Snell became the seventh pitcher in baseball history to win a Cy Young Award in the American League (Tampa Bay Rays, 2018) and the National League (San Diego Padres, 2023). He led the NL with a 2.25 ERA, 5.8 hits per nine innings, and struck out 234 batters in 180 innings.

The free agent market has been interesting this offseason but maybe Snell didn’t get the deal he wanted because he also led the league with 99 walks and has had command issues in his past. His four seasons between Cy Young years were average with a 3.85 ERA.

Nevertheless, the Giants emerged as Wild Card favorites on Monday night and will give the rest of the National League West a fight until the very end. They don’t have the same power as the division-favorite and rival Los Angeles Dodgers but they have surpassed the Padres and maybe the reigning NL Pennant winners Arizona Diamondbacks.