The San Francisco Giants have agreed to a six-year, $151 million contract extension with All-Star third baseman Matt Chapman, the club announced shortly after their 6-4 loss to the Arizona Diamondbacks on Wednesday evening.
Chapman, 31, signed a one-year, $18 million deal that included two player options and one mutual option this past spring. This new deal, which kicks in for the 2025 season, overrides those options. Chapman will receive $25 million per season through 2030 along with a $1 million signing bonus, the Giants announced.
OFFICIAL: The #SFGiants and IF Matt Chapman have agreed to terms on a six-year contract extension pic.twitter.com/1AUUzapfEi
— SFGiants (@SFGiants) September 5, 2024
Through 136 games this season, Chapman has hit .247/.333/.445 (121 OPS+) with 33 doubles, a triple, 22 home runs, 69 RBI, 90 runs, 13 stolen bases and 6.0 WAR, the latter due in large part to his superb defense at third base. He's in the midst of his best all-around season since finishing in the top seven of AL MVP voting in back-to-back seasons with the Oakland Athletics in 2018 and 2019, respectively.
Chapman's extension comes after the third baseman and agent Scott Boras had difficulty drumming up a market last offseason. They originally sought a long-term deal, but had to settle for a one-year contract with player options in early March. The extension was worth the wait though. All told, the Giants will pay Chapman $169 million from 2024-30. He ultimately did receive a lucrative long-term contract, albeit a little later than hoped.
Chapman was one member of the "Boras Four" along with Cody Bellinger, Jordan Montgomery, and Blake Snell. All four had to settle for one-year contracts with player options late in the offseason or even during spring training. San Francisco could look to sign Snell to an extension next. The Chicago Cubs may try to do the same with Bellinger. The D-backs won't seek a new extension with Montgomery given his tough season.
The extension takes our No. 6 free agent off the market this coming offseason. It's a strong class, particularly with Juan Soto at the top. Boras represents our No. 1 (Soto), No. 2 (Corbin Burnes), No. 3 (Alex Bregman), No. 5 (Snell), and No. 9 (Pete Alonso) free agents.
The Giants fell to 68-72 after the loss on Wednesday, putting them 8 1/2 games out of a playoff spot with 22 games left to play, so they are essentially out of contention.
Still, there was some good news for the Giants coming from Oracle Park on Wednesday evening: Chapman won't be hitting free agency this coming offseason or any offseason, for that matter, for quite a while.
