(SAN FRANCISCO) — The San Francisco Giants and Matt Cain have agreed to a new contract that will make the 27-year-old the highest-paid righthanded pitcher in history.
The new deal will tack on five years and a guaranteed $112.5 million to his previous contract, according to ESPN. Cain is entering the final year of his original contract, under which he will earn nearly $15 million.
“Ensuring that Matt remained a Giant beyond this season was a top priority for the organization,” Giants general manager Brian Sabean said in a statement Monday. “Matt is an integral part of the team whose performance on the mound will be one of the keys to our success for years to come.”
Cain’s new extension includes a full no-trade clause.
Copyright 2012 ABC News Radio
Jill Martin, CNN