The San Francisco Giants agreed on a one year contract with 24 year old Cy Young winner, Tim Lincecum, reportedly worth $650,000.

For an idea of how big a bargain Lincecum is, one need only look further down the Giant rotation to fellow former Cy Young award winner Barry Zito who made $14.5 million last year and posted an ERA over 5.

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“I definitely would be very surprised if he’s not a Dodger”

Los Angeles Dodgers manager Joe Torre made headlines yesterday proclaiming he’d be surprised if Manny Ramirez did not resign with the Dodgers. While he quickly assured reporters that he had no inside knowledge of negotiations, it reignited Manny fever in the LA sports world.

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Update: True to his word, Giants GM Brian Sabean appears to have landed his target shortstop, Edgar Renteria. The San Francisco Chronicle reports that Renteria underwent a physical on Wednesday and the deal should be announced today (Thursday). Hat tip to Tim over at MLBTradeRumors.com for finding this one.

The San Francisco Giants are reportedly still deep in talks with free agent short stop Edgar Renteria and the AP is reporting that the team could have a new short stop “by the end of the week.”

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Now that the Phillies have declined to offer free agent Pat Burrell arbitration, several teams have picked up their pursuit of the slugger, including the Seattle Mariners, Los Angeles Angels, and San Francisco Giants according to MLB.com’s Ken Mandel. Mandel also mentions that Burrell grew up in the Bay Area and implies that the Giants may be the favorites to land the outfielder.

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The San Francisco Giants have reportedly inked reliever Bob Howry to a one year deal worth $2.75 million. The 35 year old righty had put up 4 solid years of sub 3.4 ERA relief before last year’s 5.35 effort for the Chicago Cubs. I’m guessing Howry is hoping to re-establish himself and ink a multi-year deal next winter, and the Giants for their part could be getting a very good reliever at a bargain price if Howry can regain is previous form.

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Teams have until midnight eastern time tonight to extend offers of arbitration to their free agents and I’ll be updating this page as often as news becomes available about teams’ arbitration actions.

Update

The offers are all in, and according to the AP only 24 players were offered arbitration. The list is as follows:

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According to FoxSports, the two Bay area teams, the San Francisco Giants and the Oakland A’s are the favorites in the Rafael Furcal sweepstakes. Furcal, a familiar fixture in California, having spent the last three years in Los Angeles with the Dodgers, is reportedly seeking a four year deal worth $40 million.
The Braves, Dodgers, Cubs, [...]

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The San Francisco Giants have traded veteran second baseman Ray Durham to the Milwaukee Brewers for two minor leaguers.
Durham, who will be a free agent at the end of the season, has been rumored to be on the move for weeks and with current starter Rickie Weeks batting just .218, the Brewers were desperate [...]

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Various media including the Mercury News are reporting that the Giants are interested outfielder Hideki Matsui. The Yankees would likely want pitching in return and therein lies the rub. The Giants seem willing to trade reliever Jonathan Sanchez but the sticking point is who else they are willing to give up to make the deal [...]

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According to the Toronto Sun, the Blue Jays have offered the San Francisco Giants prized young outfielder Alex Rios for rising star Matt Caine or Tim Lincecum. The Giants had been discussing several different deals for a power hitting outfielder and Rios certainly fits the bill with 24 home runs, 85 RBI (4 more than [...]

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