On Wednesday night, the San Francisco Giants and third baseman Matt Chapman reached a significant agreement on a six-year contract extension worth $151 million. This new deal, which will commence in 2025, replaces the final two years of Chapman’s current three-year, $54 million contract. The extension includes no deferred money and a full no-trade clause, ensuring Chapman’s security with the Giants until 2030, when he will be 37 years old.
Chapman, 31, has had a stellar season, combining impressive offensive production with elite defensive skills at third base. This standout performance comes after a challenging free agency period last winter, which saw Chapman settling in San Francisco under a shorter-term deal. The new extension reflects the confidence the Giants have in his continued excellence.
In 2024, Chapman has demonstrated his value with a .247/.333/.445 batting line and an adjusted OPS 21% above the league average. His 22 home runs and 56 extra-base hits lead the Giants, and his defensive prowess, evidenced by his four Gold Gloves, could earn him a Platinum Glove this season. Chapman’s current 6.0 Baseball-Reference WAR ranks ninth in baseball, and his 4.5 FanGraphs WAR places him 13th among position players, showcasing his all-around contributions.
Chapman’s journey from a power-hitting minor leaguer to a key player in the majors has been marked by his ability to consistently hit the ball hard. His impressive metrics in bat speed and exit velocity have maintained his status as one of the game’s premier hitters, which has influenced the Giants’ decision to commit to him well into his 30s.
The Giants, currently struggling with a 68-72 record, have had a disappointing few seasons since their 107-win campaign in 2021. The extension for Chapman, negotiated by president of baseball operations Farhan Zaidi and agent Scott Boras, is part of the team’s effort to stabilize and improve their roster. Zaidi’s strategy also includes securing other notable players, such as left-hander Blake Snell, who is expected to opt out of his current deal and seek a more lucrative contract.
Chapman’s extension signifies a commitment to a core group that includes right-hander Logan Webb (signed through 2028), center fielder Jung Hoo Lee (2029), and several promising young players like Heliot Ramos, Patrick Bailey, Tyler Fitzgerald, and Kyle Harrison. With Chapman’s future secured, the Giants can focus on building around these key figures.
Chapman’s new deal also impacts the upcoming free agent market, particularly for third basemen. With Chapman off the market, attention will shift to other high-profile free agents, including Alex Bregman, another Boras client, who may be sought after by teams in need of a third baseman. The Houston Astros, New York Mets, New York Yankees, Seattle Mariners, and Toronto Blue Jays could all be potential suitors for Bregman.
In addition to Bregman, other top free agents include New York Yankees outfielder Juan Soto, Milwaukee shortstop Willy Adames, Baltimore outfielder Anthony Santander, Arizona first baseman Christian Walker, and Los Angeles Dodgers outfielder Teoscar Hernandez. With Chapman’s extension finalized, the landscape of the free agent market is set to shift as teams reassess their priorities and targets.
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