According to multiple published reports, free-agent pitcher Johnny Cueto has reached a contract agreement with the San Francisco Giants, pending a physical examination.
Jon Heyman of CBS Sports is reporting that the deal is for six years and $130 million, with an opt-out clause after two years.
Cueto, who will turn 30 just before spring training, struggled with the Kansas City Royals after being acquired at the trading deadline, posting a 4.76 ERA in 13 starts, but redeemed himself with a two-hit shutout in Game 2 of the World Series. Before being traded, he went 92-63 in eight seasons with the Cincinnati Reds, posting a 3.21 ERA and 1.165 WHIP in 213 starts.
The Giants had made a serious run at Zack Greinke, only to lose him at the last minute to the Arizona Diamondbacks. They quickly signed Jeff Samardzija, but were still looking for a top-tier pitcher, and aggressively pursued Cueto.
As the Chicago Cubs did with Jason Heyward, the Giants were able to sign Cueto at a discount by offering the opt-out clause. He has averaged 4.5 WAR over the last five seasons, which would have given him a market value around $30 per season, but took significantly less because of the chance to become a free agent after the 2017 season.