SAN FRANCISCO (AP) — Left-hander Alex Wood is staying with the San Francisco Giants, reaching agreement Wednesday on a $25 million, two-year contract.
He gives manager Gabe Kapler two starters named Alex in the rotation after Tuesday's addition of right-hander Alex Cobb on a $20 million, two-year contract with a club option for 2024. The two pitchers even worked out together briefly during the coronavirus shutdown last year.
“Wood has electric stuff, funky delivery,” Cobb said during a video call.
San Francisco President of Baseball Operations Farhan Zaidi needed to address the rotation after losing right-hander Kevin Gausman to the Blue Jays earlier this week on a $110 million, five-year contract.
Last week, right-hander Anthony DeSclafani received a $36 million, three-year deal to remain with the club.
“It's not a strategy, we talked about how we could imagine our rotation being filled up with a mix of guys on one-year deals or multi-year deals, and this is just how it's played out so far,” Zaidi said.
Wood returned from a bout with COVID-19 to contribute during the key stretch run, when 107-win San Francisco edged the rival, 106-win Dodgers on the final day of the regular season before losing to Los Angeles in a thrilling, five-game NL Division Series.
“My wife and I are ecstatic to be back. We have such a special group. The culture they've started to build there and to be a part of that last year and see it culminated into 107 wins and a playoff berth and winning the division, I just had a blast,” Wood said. “It's such a great group of people, top to bottom.”
He will earn a $12.5 million salary in both 2022 and 2023 and his contract includes a $62,500 annual donation to the Giants Community Fund. He can make a potential $5 million in performance bonuses over the two years for games when he records nine or more outs: a possible $2.5 million in each season — $250,000 each for 20 and 22 games doing so and $500,000 each for 24, 26, 28 and 30.
The 30-year-old Wood was 10-4 with a 3.83 ERA and 152 strikeouts over 26 starts.
Both Cobb and Wood expressed their gratitude that the Giants showed them they were wanted quickly once the season ended.
In fact, Cobb appreciated the Giants' aggressiveness to make something happen before a potential lockout, calling it a “no-brainer, we didn't need to wait around for anybody else.”
“There's a long list of things that kind of go on that appealing side of coming and joining the Giants organization,” Cobb said. “Watching from afar, just seeing what they did last year, a 107-win team.”
The 34-year-old Cobb went 8-3 with a 3.76 ERA in 18 starts for the Los Angeles Angels last season. He will earn $9 million in 2022 and ’23, and the club option is for $10 million with a $2 million buyout. Similar to Wood's deal, he will make a $45,000 annual donation to the Giants Community Fund in each of his first two seasons and a $50,000 donation in 2024 if the option is exercised.
Cobb also has some familiarity with the Giants having played with third baseman Evan Longoria and catcher Curt Casali.
“The one constant thing you always hear is how much everybody loves playing there,” Cobb said.
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