Tim Lincecum won't get a huge megadeal, but he's not going broke, either
Fast forward to two years later, and things are a lot different. He has had a couple below average seasons in 2012 and 2013, with an ERA+ of 68 and 76, respectively. That's a stark contrast to his ERA+ of 137 over his first 5 seasons.
The result is a contract extension far smaller than most people would have imagined, and it still seems like the Giants might be overpaying for him.
Lincecum just signed a 2-year deal with the Giants for $35 million. That's actually less than his contract from the past two years, in which he made $40.5 million.
Some reactions on Twitter when the news of the deal broke were hilarious. Some compared him to a guy like Phil Hughes, who would never even be offered a contract even remotely close to that.
Lincecum had a negative WAR (wins against replacement) in both 2012 and 2013, meaning he pitched worse than a replacement-level player. With his new deal, he's going to be paid much like a top-tier starting pitcher, despite the fact that he clearly hasn't been one lately.
If he returns to his 2007-10 form, this could be a huge bargain for the Giants. But will he?