Reports: Lincecum and Giants Reach Two-Year Deal

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Updated: January 24, 2012
Tim Lincecum

Two-time NL Cy Young Award winner Tim Lincecum and the San Francisco Giants have avoided arbitration by reaching a verbal agreement Tuesday on a two-year contract worth $40.5 million.

The deal includes a $500,000 signing bonus and salaries of $18 million this year and $22 million in 2013, according to sources close to the negotiations.

Lincecum had asked for a near-record $21.5 million in salary arbitration and had been offered $17 million by the club. He remains eligible for free agency following the two-year deal.