The San Francisco Giants were one of the most proactive teams in baseball last offseason, investing over $100 million in three key players. As the 2024 season nears its end, however, the Giants now face the possibility of losing two of their top players.
San Francisco’s 2024 season has been a disappointment. The Giants, who had hoped to end a two-year playoff drought, are now struggling to stay at .500. Despite having one of the highest payrolls in Major League Baseball this year, the team has underperformed, which could prompt significant changes during the offseason.
According to Bob Nightengale of USA Today, starting pitcher Blake Snell plans to opt out of the final year of his contract, and he’s expected to attract significant attention in MLB free agency. Similarly, All-Star third baseman Matt Chapman is anticipated to decline his 2025 option and test the free agent market.
Snell had a tough start to the season with San Francisco, struggling with a 9.51 ERA, 1.94 WHIP, and allowing a .308 batting average in his first six starts, which included two stints on the injured list. However, since his return from the IL in July, he has excelled, posting a 1.03 ERA, allowing a .117 batting average, and recording a 0.69 WHIP over eight starts and 52.1 innings.
As long as he remains healthy, Snell has strong motivation to decline the second-year option on his contract and enter free agency as one of the top available players. Although he will likely continue to be represented by Scott Boras, Snell is anticipated to sign a new deal much earlier than he did in the previous offseason.
San Francisco faces a genuine risk of losing Snell to teams like the San Diego Padres or New York Yankees in free agency. However, the Giants might still have a chance with Chapman. According to Nightengale, although Chapman plans to become a free agent, there is mutual interest between him and San Francisco, and the Giants will actively pursue an extension.
Chapman faces a decision between entering MLB free agency or accepting the remaining $56.3 million on his contract for the next three seasons. Given his strong performance this season, he could leverage his value to secure a multi-year deal from San Francisco worth over $20 million annually for a similar duration.
The silver lining for the Giants is that if both Chapman and Snell decline their contract options, it would free up significant payroll space. This increased flexibility could allow San Francisco to pursue top free-agent hitters like Juan Soto or other high-profile targets this winter.
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