Blake Snell was one of the last remaining major free agents in Major League Baseball. Then the San Francisco Giants decided to swoop in and pick up the reigning National League Cy Young Award winner. The talented southpaw will stay in the National League West Division, but moves from sunny San Diego to lovely San Francisco.
On Wednesday, we learned the details of Snell’s brand-new contract with the Giants. It’s safe to say that the 31-year-old left-hander caught a strong deal, but not nearly the one many likely expected.
Ken Rosenthal, MLB’s most prominent insider, shared the details on X, the website formerly known as Twitter.
Rosenthal detailed that he’ll make $15 million in 2024 and a $17 million signing bonus, payable on January 15, 2026. According to Rosenthal, “If Snell does not opt-out, $30M in 2025 with $15M deferred without interest.”
In short: The deal is $62 million for two seasons.
Blake Snell contract, per source:
$17M signing bonus, payable 1/15/2026
$15M in 2024
If Snell does not opt out…
$30M in 2025, with $15M deferred without interest
Deal is two years, $62M. Factoring in deferrals, union values present day value at $59,396,694
— Ken Rosenthal (@Ken_Rosenthal) March 20, 2024
Some probably expected Snell to get somewhere around nine figures. But the long lull between the offseason and Spring Training likely solidified that Snell, and other free agents, wouldn’t get the contracts that they desired. It’s perhaps a bit dispiriting and aggravating, but this is the situation MLB has constructed for itself.
Nevertheless, Snell will be paid and will be ready to rock and roll with the Giants when Opening Day comes around.
The MLB world had much to say about this update.
Smart move by Snell getting a $17M signing bonus. He won’t pay any state tax on the bonus. https://t.co/RBcrAGevz9
— Robert Raiola, CPA (@SportsTaxMan) March 20, 2024
Mariners could have absolutely gotten Snellzilla, would have been so fun https://t.co/KHMHcMjZJw
— evil Justin (@dntStartTheFire) March 20, 2024
*very* tradeable contract https://t.co/ABFdqN6z6N
— Rob Hanna (@RobHanna85) March 20, 2024
Deferrals. LOL. Funny how often Boras does deferral deals even on a short-term deal. https://t.co/NGgqFqgCc9
— Talk Nats (@TalkNats) March 20, 2024
https://twitter.com/TalkinTwins/status/1770551639633699148
