Snell had been linked to the New York Yankees, Los Angeles Angels, Seattle Mariners, and other teams in MLB free agency. He was most recently connected to the Houston Astros, who were rumored to be seriously pursuing him.

San Francisco reportedly emerged as the favorite after the Astros and Yankees both opted not to pay him more than $30 million per season, according to Bob Nightengale of USA Today. The contract includes an opt out following the first year, per Jeff Passan of ESPN.

Susan Slusser of the San Francisco Chronicle reports that the contract interestingly includes a $17 million signing bonus, which will be payable in January of 2026. That means Snell will make $15 million in 2024, and can opt in to receive the rest of the money in 2025.

So is this a win for Snell? Is it a good deal for the Giants?

Blake Snell finally gets paid

Snell was expected to draw no shortage of interest after winning the 2023 National League Cy Young award with the San Diego Padres. Teams were seemingly hesitant to pay Snell what he wanted for a long-term deal, though. With famous MLB agent Scott Boras on his side, however, Snell was not going to back down.

Snell pitched to a league-leading 2.25 ERA in 2023. He added 234 strikeouts, which was a career-high. Snell has battled control on the mound throughout his career, and that was evident in 2023 as well. Despite all of his success, he still led the league in walks with 99.

Regardless, Snell was the definition of effectively wild. He did a tremendous job of stranding base runners. Still, teams were probably hesitant due to his inconsistency over the years combined with his inability to find the strike zone at times.

The contract is quite interesting. The signing bonus, which was discussed earlier, gives the Giants some payroll flexibility in 2024. For Snell, he might have wanted a long-term contract this offseason. Since it did not come to fruition, he can opt out after the 2024 campaign and pursue a long-term deal next offseason.

The second year is still something to monitor. If 2024 doesn’t go according to plan for Blake Snell, the second year offers insurance. He can opt in for 2025 if necessary.

Sure, this contract likely was not what Snell was thinking he would end up signing once the offseason began. But considering how long it took for anything to come to fruition, it wasn’t a bad deal to end up with.

Giants land a true superstar in MLB free agency

Aaron Judge and Carlos Correa were almost Giants for the 2023 season. Both deals ended up not becoming official for different reasons, and San Francisco’s offseason was considered underwhelming to say the least.

They made some intriguing moves this past offseason, but still did not sign a true superstar. Sure, Matt Chapman is a good player. Signing him is going to help the offense and the Giants’ overall defense.

But now the Giants are set to add a legitimate ace to a rotation that has dealt with injury concerns and question marks. Snell and Logan Webb will team up to make one of the better front-end pitching duos in the sport.

Snell is also familiar with the National League West after previously pitching for the San Diego Padres. He knows what it takes to pitch against the talented Los Angeles Dodgers, something that will be especially crucial in 2024.

So can the Giants compete in 2024 after missing the playoffs a season ago?

They still probably will not win the NL West unless the Dodgers massively underperform. With that being said, San Francisco has given themselves an opportunity to compete for an NL Wild Card spot.

Snell and Webb will lead the rotation, while Kyle Harrison is a potential breakout starting pitcher. The bullpen has enough talent to record respectable results. San Francisco’s offense could take a step forward with Jorge Soler, Jung Hoo Lee, and Matt Chapman in the lineup.

Grading the Snell-Giants contract

MLB free agency didn’t go according to plan for Blake Snell. Overall, it ended up being a pretty good offseason for the Giants, though.

In the end, it could have been worse for Snell. At the very least, he will get $62 million if he completes his two years with the team while pitching in a huge ballpark for a ball club with potential. That’s not a bad deal by any means.

The possible opt out after the first year is important. Snell can re-enter free agency next offseason if he wants to.

So between the details of the deal and the addition of a star pitcher for the Giants, it’s difficult to give this contract anything less than a B.

Final grade: B