The Giants bought out Pablo Sandoval‘s three arbitration years for $17 million and change.

After the World Series ended in November 2010, the Giants threatened a badly overweight Sandoval with a demotion to the minors the following year if he did not get into shape.

He lost nearly 40 pounds, had a solid 2011 season and now gets the first three-year contract for a Giant since Peter Magowan’s departure as managing general partner after the 2008 season.

In Pablo’s two great seasons, he generated WAR in excess of five wins. That’s extremely valuable, so the Giants have a chance to come out way ahead on the contract. Just one more great season from Sandoval pays for the three years.

There’s no word in the article on an option, but I would assume one or two of those would be included. Otherwise, Pablo hits free agency still in his prime.