Source — Blake Snell agrees to 2-year, $62M deal with Giants،
Blake Snell's extended free agency has ended.
The reigning National League Cy Young Award winner agreed to a two-year, $62 million contract with the San Francisco Giants on Monday, 10 days before his new team opens its regular season against his old one, the San Diego Padres, a source confirmed to ESPN's Jeff Passan. The deal includes an opt-out after the first season.
Snell's deal – like those of fellow Scott Boras clients Cody Bellinger and Matt Chapman, both of whom signed after the start of spring training – gives him a higher average annual value in exchange for longer lesser part of his contract, but also allows him to re-enter free agency with the hope of experiencing a more robust market during the next offseason.
Snell is wrapping up what has been a busy offseason for the Giants, who have made the playoffs just once in the past seven years and have struggled to acquire more star power for a team now led by three-time Manager of the Year Bob Melvin.
The Giants added a new center fielder and leadoff hitter in Korean Jung Hoo Lee, who signed a six-year, $113 million contract in December, and a new middle-order bat in Jorge Soler, who received a three-year, $42 million deal in February. They also traded for former Cy Young Award winner Robbie Ray, who won't return until the second half as he recovers from Tommy John surgery, and signed Jordan Hicks, who will convert to pitcher starting full time.
But their biggest decisions came late, when they landed Chapman on March 1 with a three-year, $54 million contract that included two opt-outs, 18 days before agreeing to bring in Snell.
Snell, 31, spent the last three years with the Padres and will now return to a division that saw the Los Angeles Dodgers spend more than $1.2 billion during an offseason led by Shohei Ohtani, Yoshinobu Yamamoto and Tyler Glasnow.
Snell pitched a four-inning simulated game Friday from his hometown of Seattle. The Houston Astros, Los Angeles Angels and New York Yankees were among the teams most frequently linked to Snell, but the Giants' short-term offer ultimately won out.
Snell is one of seven pitchers who have won the Cy Young Award in the American League and National League, winning the trophy in 2023 after going 14-9 with an MLB-best 2.25 ERA for San Diego . He received 28 of 30 first place votes.
In 2018, Snell received 17 of 30 first-place votes after posting a 1.89 ERA in 31 starts for the Tampa Bay Rays over Justin Verlander.
Snell has long been renowned for having some of the nastiest stuff of any lefty in the game, with a vicious, ball-breaking fastball combination. When the Rays made him available for a trade after the 2020 World Series, San Diego jumped at the opportunity, trading four players for the left-hander. He allowed the fewest hits per nine innings (5.8) among all ERA-qualified pitchers last season, allowing just 115 hits in his 180 innings.
Some teams, however, were wary of betting big on him in free agency because of his past command issues and inconsistency. The year after winning his first Cy Young Award, Snell's ERA rose to 4.29. Last season, Snell led the major leagues with 99 walks.
Snell's deal with the Giants was first reported by the New York Post.
ESPN's Buster Olney contributed to this report.
