Tim Lincecum signs 2-year, $40.5 million contract to stay with SF Giants

SAN FRANCISCO — Giants ace Tim Lincecum’s new $40.5 million, two-year deal includes a series of bonuses for winning the Cy Young and other awards. Lincecum and San Francisco reached verbal agreement on a new contract Tuesday pending a physical, which likely will happen early next week before a formal announcement is made by the club.

Lincecum, a two-time NL Cy Young Award winner, gets a $500,000 signing bonus and salaries of $18 million this year and $22 million in 2013.

Lincecum — the 10th overall draft pick out of Washington in 2006 — has been an All-Star in each of the past four seasons. He went 13-14 with a 2.74 ERA last year for his first losing record. The Giants scored no runs while he was in the game in seven of 33 starts, had one run six times and two runs five times, according to STATS LLC.

During a San Francisco press conference last year, Lincecum acknowledged the huge Filipino following that he enjoys. In fact, because of Lincecum, there is a Filipino Heritage Night every season at AT&T Park. According to Lincecum, whose mother Rebecca Asis is the daughter of Filipino immigrants, “You know, I’m a Filipino. I have Filipino heritage in me. As far as the diversity of the city goes, it’s up there. It’s just great. I think the game is just getting followed more and more worldwide. To find that in your own city, to find that same kind of following it’s good.”, referring to the Filipino fans.

via Tim Lincecum has bonuses in $40.5 million, 2-year deal for Cy Young and other honors – The Washington Post.