When the Giants handed Matt Cain a 5 year $112,500,000 contract in 2012, the team thought it was locking down a perennial Cy Young award contender who would likely add to his three All-Star appearances over the length of the contract. Instead Cain has been limited by injuries and inconsistency with four consecutive losing seasons and a new career-low WAR in each of those seasons.
While Cain certainly has not lived up to his massive contract the past few years, he has had a strong start to his 2017 season. Through eight starts Cain has a 3-1 record with a 4.03 ERA, bloated by nine runs through three innings against the Reds on May 5 (his ERA was 2.30 before that game).
If Cain keeps pitching at this high level, he could possibly have his best season in five years.
Despite that glimmer of hope, Cain’s $21 million team option for next season looms like a dark cloud over the front-office. If the Giants did exercise Cain’s option, he would become the second-highest paid player on the team, behind only former MVP Buster Posey.
This isn’t the only tough decision facing the Giants in upcoming months, as Brandon Belt, Brandon Crawford and Mark Melancon will all get significant salary increases in 2018. Johnny Cueto can also opt into another year on his deal at $21 million. This would push the Giants’ payroll to at least $179 million for just 11 active players.
With huge amounts of salary being put towards arguably more important and productive players, Cain’s $21 million may start to look less attractive.
Another factor against Cain is the impressive pitching of Ty Blach. After a slow start to the season the 26-year-old has combined for three earned runs over 14 innings in his last two starts including a win over the Dodgers Tuesday.
If Blach continues to impress, it may render Cain obsolete as the 5th man in the rotation, especially at a $21 million price tag compared to just over $500,000 for Blach. Blach was initially called up to provide depth in the bullpen bought if he continues to prove himself as a starter, he could be a cheap option that would reduce the desirability of retaining Cain for next season.