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Breaking down Logan Webb’s contract extension

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Chris Mezzavilla | KNBR

The Giants have been publicly interested in extending homegrown ace Logan Webb since at least the end of last season. Webb, the Rocklin native, has said “it’d be incredible to be a Giant for life” and has taken pride in being a clubhouse leader.

An extension felt like a foregone conclusion. And Friday, the two sides consummated a deal.

“I was born in the Bay Area, I grew up in Sacramento,” Webb said in February. “I’d love to be in Northern California for my entire career. It’s definitely important to me. Not only the security part but because I like being here and I love being a Giant. I love being a part of this team and this organization.”

The Giants announced the long-term extension on Friday morning, just over two weeks into the 2023 season.

Here’s what you need to know about the deal.

How Webb Earned The Bag

Selected in the fourth round of the 2014 draft, Webb emerged as the Giants’ ace in 2021. That year, he helped the Giants win a franchise record 107 games, posting a 3.03 ERA. He hit a dramatic home run in the team’s regular season finale then allowed one run in 14.2 innings against the Dodgers in the NLDS.

Since the start of 2021, only Astros starter Framber Valdez has a better ground ball rate than Webb. In that same span, Webb leads MLB in home run prevention, allowing 0.60 homers per nine innings.

After he broke out, Webb posted career-bests in wins (15), ERA (2.90), innings (192.1) and starts (32) last season. He finished 11th in National League Cy Young voting.

Even after his phenomenal 2022 campaign, the competitive Webb has repeatedly said that he isn’t satisfied with his performance.

“I hope and I expect expectations to be very high for Logan,” Giants manager Gabe Kapler said in February. “I believe he should be a perennial Cy Young Award contender and one of the best pitchers in baseball on a year-to-year basis. I think that because of his pitch quality. I think that because of his leadership characteristics. I think that because of his preparation and his pedigree…He sets the bar pretty high for himself, and we set the bar pretty high for him.” 

The Details

The contract extension buys out Webb’s remaining two years of arbitration and three free agent years. It takes Webb through the 2028 season, when he’ll be 31 years old.

Barring a trade, Webb will have spent 10 seasons with the Giants before his contract expires.

Webb will earn $8 million next year, $12 million in 2025, $23 million in 2026 and 2027 and $24 million in 2028. He’ll donate $450,000 to the Giants Community Fund over the course of the deal.

The next two seasons represent raises for Webb, who likely would make less in arbitration. Then he gets the added security of three years at an average of $23.3 million — roughly what perennial Cy Young candidate Zack Wheeler makes.

Context

Webb’s $90 million extension is the largest single financial commitment the Giants’ front office under president of baseball operations Farhan Zaidi has made. Mitch Haniger’s three-year, $43.5 million deal was previously the biggest swing.

It’s also the largest extension the Giants have handed out to a homegrown player since the back-to-back extensions to Matt Cain and Buster Posey in 2013.

Zaidi’s front office has shown hesitancy to spending on starting pitchers long-term. San Francisco allowed Kevin Gausman to depart in free agency after 2021 and also let Carlos Rodón go after 2022. The main difference between those examples is age; Gausman was entering his age-31 season and Rodón is 30.

Webb, meanwhile, is 26-years-old and should be in his athletic prime for the duration of the deal. He proved his ability to be durable in 2022. Although he underwent Tommy John surgery in 2016, Webb doesn’t have significant injury risks.

Webb’s deal is the only money on the Giants’ books for 2026, 2027 and 2028.

Comparables

Every contract extension is different because teams sign players at varying stages of their arbitration eligibility. But Webb’s extension holds up as market value for a star pitcher remaining with his team.

Padres ace Joe Musgrove, who’s three years older than Webb, signed a five-year, $100 million extension during last season. That $20 million average annual value is a touch higher than Webb’s $18 million AAV.

Other recent starting pitcher extensions include Braves wunderkind Spencer Strider (six years, $75 million), reigning NL Cy Young winner Sandy Alcántara (five years, $56 million), Rockies starter Kyle Freeland (five years, $64.5 million) and Blue Jays veteran José Berríos (seven years, $131 million).

If Webb continues to pitch the way he has the past two seasons, his contract could look like a relative bargain. Starters making roughly $18 million this year include Taijuan Walker, Adam Wainwright, Lance Lynn and Nathan Eovaldi.