S.F. keeps Cain for $112.5m

SAN FRANCISCO (AP) ― When Matt Cain pondered his future, staying put in San Francisco where his career took off became the top option.

He emerged as an All-Star and front-line starter with the Giants, and helped lead them to an improbable championship two years ago.

Now, Cain has that hefty new contract he hoped for before opening day ― awarded for what he has done and what San Francisco’s brass is confident he will continue to do in a star-studded rotation.

Cain and the Giants agreed Monday to a $127.5 million, six-year contract, the largest deal for a right-handed pitcher in baseball history.

“This is a decision that was made pretty simple for us. It was a process and it was a negotiation. It was good for my family and I to go through all of that,” Cain said, his wife Chelsea in the back of the room for his news conference. “To be able to know this is probably going to be our lifetime as a Giant, that’s pretty cool for us.”

The agreement adds $112.5 million over five years to the $15 million salary for 2012 that remained on the All-Star’s previous deal. Cain gets a $5 million signing bonus as part of the new contract and $20 million annually from 2013-17. The deal includes a $21 million option for 2018 with a $7.5 million buyout that, if exercised, would raise the total to $141 million over seven seasons.

Cain’s option would become guaranteed if he pitches 200 innings in 2017 or 400 innings combined in 2016-17 and isn’t on the disabled list at the end of the 2017 season for a right elbow or right shoulder injury. If it doesn’t become guaranteed, it would be a team option.

One of general manager Brian Sabean’s top priorities this offseason had been to keep his talented pitching staff intact ― and president and CEO Larry Baer has been onboard all along. Two-time NL Cy Young Award winner Tim Lincecum agreed to a $40.5 million, two-year contract in late January.