Snell can earn up to $62 million or can opt out after 2024 and return to the free-agent market.
San Diego Padres starting pitcher Blake Snell works against a Tampa Bay Rays batter during the first inning of a baseball game Saturday, June 17, 2023, in San Diego. 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.
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.
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.Dear Abby: If your house is on fire, you get a pass. Everyone else should be at the party.
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