The San Francisco Giants have made Matt Cain the highest paid right handed pitcher in Major League Baseball history today with a 6-year $127 million dollar contract.
The deal adds $112.5 million and five years to the $15 million Cain is going to be paid for 2012 under his old deal. He gets a $5 million signing bonus from the new deal and a raise to $20 million per year for the next four seasons. The final year of the deal, 2018, includes a team option $21 million season or a $7.5 million buyout for Cain.
Both Johan Santana and C.C. Sabathia were paid more on their last contracts, but both are lefties. Kevin Brown's seven-year $105 million dollar deal in 1998 was the previous record for right-handed pitchers.
Ensuring that Matt remained a Giant beyond this season was a top priority for the organization. Matt is an integral part of the team whose performance on the mound will be one of the keys to our success for years to come, Giants General Manager Brian Sabean said.
Cain has undoubtedly been a productive pitcher over his seven seasons compiling a 69-73 record with a 3.35 ERA and a 1.20 WHIP. He has struck out 1085 batters in 1317 and a third innings of work. His under.500 record is more a product playing on some anemic offensive teams than it is a reflection of his skills.
He has the 12th best ERA+ among active pitchers and ranks in the top 20 of most other peripheral metrics.
Cain is also a fan favorite in San Francisco who was set to be a free agent at the end of the year. Giant's fans undoubtedly remember his 2010 post season when he pitched 21.1 innings without allowing an earned run, so this deal will keep the fan-base happy.