SAN FRANCISCO -- Farhan Zaidi is not the type to make grand statements or chase headlines, but at the GM Meetings last month in Las Vegas, Zaidi did toss out some red meat for a large pack of reporters.
"From a financial standpoint, there's nobody that would be out of our capability," he said.
Correct.
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Zaidi and the Giants went big Tuesday, agreeing to a 13-year, $350 million deal with Carlos Correa that is staggering in scale compared to how the Giants have historically spent and built. The Correa deal is not just the largest in franchise history, it's much more than the Giants have ever committed to an entire class of players in a single offseason.
The previous high for spending came after a disappointing 2015 season. The Giants responded by committing to Johnny Cueto for $130 million and Jeff Samardzija for $90 million. With Denard Span's $31 million deal, the Giants went over $250 million in total commitments that year.
Correa's deal puts the Giants about $200 million above that spree this time around, and they still have two months left in their offseason. With Correa, Joc Pederson, Mitch Haniger, Sean Manaea and Ross Stripling, the Giants have committed $463.15 million to five veteran free agents. While their big shopping is done, they still expect to add to their bullpen and potentially find one more outfielder.
The Giants have spent years clearing their books for this day and they didn't shy away from high expectations as the offseason approached. Chairman Greg Johnson said in September that the organization was well aware of Aaron Judge and the four shortstops that led this year's free agent class, and the first weeks of the offseason were spent chasing Judge.
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The Giants offered him $360 million over nine years, easily eclipsing the $310 million they offered Bryce Harper in 2019. After Judge went back to New York, the front office pivoted.
Under Zaidi and a revamped front office, the Giants had not committed more than $50 million to a player until Tuesday, even with the earlier additions this offseason. At $350 million, Correa is guaranteed nearly three times the previous franchise record for a free agent (Cueto) and $260 million more than the previous high for a position player (Barry Bonds).
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Because the contract is stretched out over 13 years, though, the average annual value is not as high as most similar contracts. Correa is due $26.92 million per year, which brings him in under other shortstops like Corey Seager and Trea Turner. He did set a record for biggest overall contract for a shortstop, though, eclipsing the $341 million that Francisco Lindor got from the Mets.
For a moment on Tuesday, the Mets were rumored to be after Correa. He wasn't a need for them, but under Steve Cohen, the Mets have spent freely in an effort to build a contender for 2023 and beyond. With their latest splash, the Giants have finally joined that party.