The San Francisco Giants reached an agreement today with right-handed starter Matt Cain that will keep Cain in orange and black at least through the 2017 season. Cain was entering the last year of his contract and had set an Opening Day-deadline for a contract extension with the Giants. That deal is now official.

The Giants will pay Cain $15 million for 2012 (the salary under his old contract), and $100 million for next five seasons (2013-2017). San Francisco has a club option for 2018 for $21 million but that becomes a player option if Cain reaches a certain number of innings pitched. If the Giants decline the option, Cain is guaranteed $7.5 million. If it becomes a player option, Cain can decline and still receive the $7.5 million. There is also a $5 million signing bonus. The contract includes a full no-trade clause.

With the signing bonus, and assuming the Giants pick up the option for 2018, the total price for the extension is $126 million over six years for an AAV of $21 million. If the Giants don’t pick up the extension, and buy out the option for $7.5 million, then the AAV goes up to $22.4 million.

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Episode 159
After a week’s hiatus, FanGraphs Audio returns with managing editor Dave Cameron reacting to the news from the internet that Cincinnati first baseman Joey Votto is coming to terms on an extension with the Reds. Also discussed: Juan Francisco, Carlos Zambrano, the FanGraphs organizational rankings.

Don’t hesitate to direct pod-related correspondence to @cistulli on Twitter.

You can subscribe to the podcast via iTunes or other feeder things.

Audio after the jump. (Approximately 32 min. play time.)

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It looks like Tim Lincecum is going to put his slider in his ‘back pocket,’ at least to start the season. Manager Bruce Bochy speculated that the reasoning behind the move was that the pitch “probably puts a little more stress on his arm” and that his star pitcher was saving his bullets for the long season.

This will be a decision that will surely be revisited no matter which way the season unfolds, but it’s not as if the slider has been one of his best two pitches recently. Fastballs and changeups make up almost 80% of his repertoire, and it’s the changeup that has helped him remain dominant as his fastball speed has dipped in recent years.

But the implications of the decision — for both the pitcher and the sport — are important.

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Read the methodology behind the ratings here. Remember that the grading scale is 20-80, with 50 representing league average.

2012 Organizational Rankings

#30 – Baltimore
#29 – Houston
#28 – Oakland
#27 – Pittsburgh
#26 – San Diego
#25 – Minnesota
#24 – Chicago AL
#23 – Seattle
#22 – Kansas City
#21 – Cleveland
#20 – New York Mets
#19 – Los Angeles Dodgers
#18 – Colorado
#17 — Miami
#16 — Diamondbacks
#15 — Reds
#14 — Cubs 

Milwaukee’s 2011 Ranking: 22nd

2012 Outlook: 57

Six months after clinching the organization’s first division pennant since 1982, the Brewers appear poised for a chance at a repeat performance. The overall pitching staff should rank among the National League elite, as the entire starting rotation and the back-end of the bullpen — which features shutdown relievers John Axford and Francisco Rodriguez — all return for another season in Milwaukee after compiling a team 3.59 FIP in 2011. That ranked fourth-best in all of baseball a season ago.

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Remember back in the 2009-2010 off-season, when some people weren’t sure who was better between big-time free agent outfielders Jason Bay and Matt Holliday? That was awesome. The Bay contract may not have been the nail in the coffin of Omar Minaya’s tenure as general manager of the Mets, but it was pretty close.

It is unlikely that even the biggest critics of the Bay contract at the time (and I was not a fan) thought things would get this bad this quickly. Bay was paid to be a star, but he has not even been an average player in either of his seasons so far with the Mets. Perhaps he was about average overall when he played in 2010, but he missed more than a third of the 2010 season. In 2011 he played more, but went from overpaid average player to just a bad player. He has looked so poor in spring training that there is talk (understandably dismissed by the Mets) that Bay could be platooned if he starts slow this year. The talk may be baseless, but that it is even out there is a bad sign for the Mets given that Bay still has two years and $35 million guaranteed (including the $3 million buyout on the 2014 club option) on his contract, which also includes a full no-trade clause.

But for the sake of speculation, if the Mets did decide to platoon Bay, would it really accomplish anything?

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One year after having to trade away impending free agent Adrian Gonzalez, the Padres have started to sign their top young players long-term. Cameron Maybin got a five-year contract earlier this month, and Cory Luebke landed a big payday of his own over the weekend. The left-hander agreed to a four-year deal worth at least $12 million on Friday, and two club options could put another $15.75 million in his pocket down the road. Tom Krasovic and Corey Brock both deserve credit for breaking the news.

Luebke, 27, enjoyed tremendous success in 2011, his first full season as a big leaguer. He opened the year with 29 excellent relief appearances before shifting to the rotation in late-June and finishing the season with 17 equally excellent starts…

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According to MLBTradeRumors, Joey Votto is nearing an agreement with the Reds on a long term contract. Votto is currently under team control through 2013, and he’s due $26 million over the next two years as part of the deal he signed last winter.

It will be interesting to see what kind of deal Votto ended up getting. Ryan Zimmerman, another quality player with the same level of service time, signed a six year, $100 million extension a little over a month ago, but Zimmerman is coming off a down year and has a lot of value tied up in his defense, which doesn’t generally pay as well as just hitting the ball really hard. Matt Kemp got $160 million over eight years, but he was also only under team control for one more season, so he had more leverage in negotiations than Votto did. Kemp is also coming off a monster season and plays an up-the-middle position, so you’d think his deal would be some kind of ceiling for Votto.

However, with the timing of the report coming so close to the massive sale price of the Dodgers, you have to wonder if the Reds got inspired to kick things into high gear after they saw what the new owners were willing to invest in Los Angeles. Votto almost certainly would have been a target acquisition for LA’s group, and Reds may have decided to get something done now before they have to deal with competition from rich new owners out west.

Read the methodology behind the ratings here. Remember that the grading scale is 20-80 (50 representing league average) with extra weight given to 2012 and Revenue rankings.

2012 Organizational Rankings

#30 – Baltimore
#29 – Houston
#28 – Oakland
#27 – Pittsburgh
#26 – San Diego
#25 – Minnesota
#24 – Chicago AL
#23 – Seattle
#22 – Kansas City
#21 – Cleveland
#20 – New York NL
#19 – Los Angeles
#18 – Colorado
#17 – Miami
#16 — Arizona
#15 — Cincinnati

Chicago’s 2011 Ranking: #19
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Custom Leagues are now available for FanGraphs: The Game!

If you and a group of your friends would like to have any easy way to see how you players stack up against each other on the leaderboards, just create a Custom League:

When you create a Custom League, anyone you add to the league will then see that league show up on their FanGraphs: The Game dashboard for easy access.

If you are added to a league that you don’t want to be a part of, you can go to the Custom League page and hide the league from your dashboard:

Custom Leagues use your already existing players and don’t impact the way the game is played at all. You can join as many or as few Custom Leagues as you like.

Read the methodology behind the ratings here. Remember that the grading scale is 20-80 (50 representing league average) with extra weight given to 2012 and Revenue rankings.

2012 Organizational Rankings

#30 – Baltimore
#29 – Houston
#28 – Oakland
#27 – Pittsburgh
#26 – San Diego
#25 – Minnesota
#24 – Chicago AL
#23 – Seattle
#22 – Kansas City
#21 – Cleveland
#20 – New York NL
#19 – Los Angeles
#18 – Colorado
#17 – Miami
#16 — Arizona

Cincinnati’s 2011 Ranking: #9

2012 Outlook: 57 (t-9th)

Coming off a disappointing 79-83 finish, Walt Jocketty decided to bring in some reinforcements in order to make sure his team could regain their status as legitimate contenders in the National League. It cost him a good chunk of his farm system, but he was able to bring in two dynamic arms in Mat Latos and Sean Marshall, both of whom will be critical to the Reds success this year. The team ended up skimping on upgrades for position players, though, and settled on an unorthodox right-right platoon of Ryan Ludwick and Chris Heisey in left field, and are vulnerable to injuries – they don’t have any real in-house alternatives if a guy like Joey Votto, Brandon Phillips, or Jay Bruce get hurt. They exchanged depth for pitching improvements, which was a wise choice, but has also left them thin behind their core starters.

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