Giants, Lincecum Reach Verbal Agreement on Two-Year Deal

From AP:

Two-time NL Cy Young Award winner Tim Lincecum and the San Francisco Giants have reached a verbal agreement on a two-year contract worth about $40 million.Giants executive Bobby Evans announced the deal Tuesday. It is subject to a physical and avoids an arbitration hearing.

Lincecum had asked for a near-record $21.5 million in salary arbitration and had been offered $17 million by the club.

The 27-year-old, the winning pitcher in the Game 5 World Series clincher at Texas in 2010, earned $13.1 million last season when he completed a two-year deal worth $23.2 million.

More from the San Jose Mercury News:

The Giants and Lincecum reached an agreement on a contract this morning, but it won't guarantee that the beloved, two-time Cy Young Award winner will remain a Giant upon hitting free agency when he's eligible after the 2013 season. Lincecum will receive $40.5 million over two years. The contract only takes him through his final two seasons of arbitration eligibility.

McCovey Chronicles points out this tweet as a reminder that a future salary showdown has merely been delayed :

Finally, from the Merc, this bitter nugget:

"Lincecum won't be the highest-paid Giant this season. Barry Zito still holds that 'honor' with a $19 million salary."

Related:

• SF Giants 2011 Salary Info (ESPN)
• Baseball Player Salaries: Tim Lincecum- analysis of Lincecum's value to the team in 2011 in relation to his salary
• Tim Lincecum career stats(Baseball-Reference.com)
• The Case for Tim Lincecum's Big Pay Day (MLB Daily Dish)