The best news of the 2023 season broke on Friday morning: the San Francisco Giants have agreed to an extension with homegrown ace Logan Webb.
Webb and the Giants agreed to an extension that will pay him $90 million over five years, keeping him in the black and orange (barring a trade) through the 2028 season. That is good news. That is very good news.
While the deal is billed as a five-year extension worth $90 million, in reality it’s more like a three-year deal worth $70 million, as Webb is under team control through 2025. The contract buys out his final two years of arbitration at $8 and $12 million, respectively, then will pay him $23 million in 2026 and 2027, and $24 million in 2028.
It’s not hard to see why both sides wanted the deal done. From the Giants perspective, they get to lock in part of their core at a great rate. If Webb is still pitching like he has for the last two years when the post-arbitration years kick in starting in 2026, then this deal will be an absolute steal for the Giants.
But it’s also easy to see why Webb was willing to agree to a contract that, on the surface, looks incredibly team friendly. In a sport and at a position where both injuries and performance can take good things away very quickly, Webb is able to lock in a ton of money. He’s currently in his first year of arbitration eligibility, and will make $4.6 million this season ... but prior to this year, the most he had made was last season, when his salary was $730,000.
If he stays healthy and good, he’ll be leaving quite a bit of dough on the table. But now he can know that he’ll be wealthy for the rest of his life, even if his performance drops off or his elbow blows out. And that’s a great thing.
Webb’s contract also includes generous donations to the Giants Community Fund: $40,000 next year, $60,000 in 2025, $115,000 in 2026 and 2027, and $120,000 in 2028.
A great day for Giants fans.