The Giants reach a huge deal with Matt Cain:

Matt Cain and the San Francisco Giants have agreed to a $127.5 million, six-year contract, the largest deal for a right-handed pitcher in baseball history.

The agreement, announced Monday, adds $112.5 million over five years to the $15 million salary for 2012 that was remaining in his previous deal. Cain gets a $5 million signing bonus as part of the new contract and $20 million annually from 2013-17. The deal includes a $21 million option for 2018 with a $7.5 million buyout that, if exercised, would raise the total to $141 million over seven seasons.

Well, he’s no Barry Zito. Congratulations to Matt! He’s an unusual pitcher, giving up fly balls without giving up a lot of home runs. The question now turns to Tim Lincecum, who can become a free agent after the 2013 season. Of course, that’s when Zito’s contract expires, so San Francisco can just move that money to Tim.