2-time Cy Young Award winner Blake Snell and Giants finalize $62M, 2-year contract

Updated Mar. 19, 2024 10:10 p.m. ET

Associated Press

SCOTTSDALE, Ariz. (AP) — The San Francisco Giants and left-hander Blake Snell have finalized their $62 million, two-year contract ahead of the two-time Cy Young Award winner being introduced at a news conference on Wednesday.

Snell gets a $17 million signing bonus payable on Jan. 15, 2026, and a $15 million salary this year. He would get $30 million if he keeps the contract for 2025, of which $15 million would be deferred and payable on July 1, 2027.

The 30-year-old Snell is 71-55 with a 3.20 ERA in 191 starts over eight major league seasons, winning Cy Youngs in 2018 with Tampa Bay and last year with San Diego.

Snell completed the deal Tuesday, nine days before the opener at the Padres, setting up the possibility of Snell making his Giants debut against his former club. He joins a rotation that includes right-handers Logan Webb and Jordan Hicks and left-hander Kyle Harrison.

Right-hander Alex Cobb is working his way back from left hip surgery on Oct. 31.

The addition of Snell is another big move for a San Francisco team that gave South Korean outfielder Jung Hoo Lee a $113 million, six-year contract, signed Hicks to a $44 million, four-year deal and outfielder Jorge Soler to a $42 million, three-year contract, and then gave third baseman Matt Chapman a $54 million, three-year deal.

Snell was taken by Tampa Bay with the 52nd pick in the 2011 amateur draft and reached the major leagues in 2016. He won his first Cy Young in 2018, beating out Justin Verlander after going 21-5 and 1.89 ERA.

In March 2019, He signed a $50 million, five-year deal, the largest at the time for a pitcher not yet arbitration-eligible. He was 6-8 with a 4.29 ERA that season, in which he was hampered by injuries.

Snell received some unwanted attention before the 2020 pandemic-shortened season when he stated “I’m not playing unless I get mine,” referring to his salary. Snell later admitted that the statement could be seen as selfish.

Snell helped the Rays reach the 2020 World Series, where they lost to the Los Angeles Dodgers in six games. He was removed from Game 6 after 5 1/3 innings despite giving up just two hits and the Rays lost 3-1.

Tampa Bay traded Snell to San Diego for prospects. He went 15-16 in his first two seasons with the Padres, then went 14-9 and had an NL-leading 2.25 ERA and won his second Cy Young. He was 8-2 with a 1.54 ERA in the second half.

San Diego will receive an extra draft pick after the fourth round as compensation after making Snell a $20,325,000 qualifying offer that he turned down. The Giants will give up their third-round pick and $500,000 in international signing bonus allocation after losing their second-round selection and $500,000 in allocation for signing Chapman.

Snell will make donations to the Giants Community Fund of $160,000 in 2024 and, if the contract includes 2025, an additional $150,000 in that year.

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