Scottsdale, Ariz. – The Giants and reigning National League Cy Young Award winner LHP Blake Snell agreed to terms on a two-year Major League contract worth $62 million, which includes an opt-out following the 2024 season. Snell will earn a $15 million salary in 2024 while also receiving a $17 million signing bonus, payable on January 15, 2026. Snell will earn $30 million in 2025, of which $15 million will be deferred and paid on July 1, 2027. Snell will also make an annual donation to the Giants Community Fund, which includes $160,000 in 2024 and $150,000 in 2025.

Snell, 31, posted a 14-9 record with a 2.25 ERA over 32 starts last season en route to his second Cy Young Award (first in the NL). Snell, who previously won the award in the American League with Tampa Bay in 2018, joined Roger Clemens, Randy Johnson, Pedro Martinez, Max Scherzer, Gaylord Perry, and Roy Halladay as the only players in MLB history to win the Cy Young Award in both leagues.

In addition to winning his second Cy Young, Snell also led the Majors in ERA for the first time in his career with his 2.25 figure in 2023 (he led the AL with his 1.89 ERA in his other Cy Young year in 2018). He also led the Majors last season in opposing batting average (.181), opponent slugging percentage (.286), opponent OPS (.579), and hits allowed per 9.0 innings (5.75). His 234 strikeouts were tied for third-most in the Majors behind ATL’s Spencer Strider (281) and TOR’s Kevin Gausman (237).

Named The Sporting News 2023 National League Starter of the Year, Snell last year posted career-bests in starts, strikeouts, and opponents slugging percentage and came just two outs shy of matching a career-high in innings pitched (180.0). He also had the best bWAR among pitchers (6.0) in the NL.

Snell was selected by Tampa Bay in the supplemental first round (52nd overall) of the 2011 Draft out of Shorewood High School in Shoreline, WA. The lefty made his MLB debut in 2016 and had a breakout season in 2018, when he earned his first Cy Young award after going 21-5 with a 1.89 ERA across 31 starts. He finished ninth in the MVP voting that season and was named an American League All-Star.

In 191 career starts, Snell has gone 71-55 with a 3.20 ERA and 1,223 strikeouts across his eight seasons with the Rays (2016-2020) and Padres (2021-2023). In 12 career Postseason games (10 starts), Snell is 4-3 with a 3.33 ERA with 61 strikeouts in 48.2 innings.

With the addition of Snell, the Giants’ 40-man roster is currently at 40 players.