Another one of the top free-agent starting pitchers has found a home as the Giants have signed right-hander Johnny Cueto to a six-year year deal, the team announced.
Multiple reports say the contract is worth $130 million with an opt-out after the 2017 season, pending a physical. Cueto turned down a six-year, $120 million offer from the Diamondbacks earlier this winter to seek a higher-paying contract.
After signing Jeff Samardzija to a $90 million deal, the Giants picked up Cueto to join Madison Bumgarner on a San Francisco team that is looking to keep pace with the offseason moves of the D-backs in the NL West.
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Cueto, who turns 30 in February, compiled a 3.44 ERA with a 176:46 K:BB ratio in 212 innings between the Reds and the Royals this past season. Most of his regular-season success, however, came with the Reds from 2011-14, as he complied a 2.48 ERA and 53 wins in that span.
A year removed from leading the NL in strikeouts during an All-Star season, Cueto regressed in 2015 with a poor second half (4.34 ERA) and meltdown in Game 3 of the ALCS. The slump may have been caused by inflammation in his pitching elbow which caused him to miss time in May.
Jake Peavy, Matt Cain and Chris Heston will battle it out for the final two rotation spots for the Giants, who are vying for their third consecutive championship in even-year seasons.