SCOTTSDALE, Ariz. — Blake Snell passed his physical Tuesday and moments before first pitch of their Cactus League nightcap against the Kansas City Royals, the San Francisco Giants announced their deal with the two-time Cy Young award winner.
The 31-year-old left-hander can earn up to $62 million over the next two seasons but also has the ability to opt out and return to the free-agent market next winter. He will earn a $15 million salary in 2024 with an additional $17 million signing bonus payable on January 15, 2026. If he opts in for 2025, he would earn a $30 million salary, with half of it deferred until July 1, 2027.
Related Articles
SF Giants’ split with announcer Brooks-Moon sparks outrage from Bay Area observers
SF Giants’ offseason comes into focus with late signings of Snell, Chapman: ‘Everybody’s just got a shot of adrenaline’
Kurtenbach: Blake Snell is coming to San Francisco and suddenly the Giants make a whole lot more sense
SF Giants reportedly make another late splash, add two-time Cy Young winner Blake Snell
SF Giants catcher Patrick Bailey expected to return to action soon
By adding Snell, the Giants’ estimated payroll now exceeds the first threshold of the Competitive Balance Tax. While the official figure is calculated at the end of the season, Snell’s salary brings the Giants’ payroll obligations to $252 million, according to Cot’s Contracts, which would make them a tax-payor for the first time since 2017.
They would required to pay a 20% fee for any dollar spent over $237 million.
With the additions of Snell and Matt Chapman, who were both extended qualifying offers, the Giants have also sacrificed their second- and third-round picks in this summer’s amateur draft, as well as $1 million of their international bonus pool allotment.
Snell is set to be introduced Wednesday at 10 a.m. alongside president of baseball operations Farhan Zaidi, manager Bob Melvin and his agent, Scott Boras.