The Giants announced on Tuesday night the contract includes an opt-out after the 2024 season. He will earn $15 million in 2024 with a $17 million signing bonus, payable on January 15, 2026, and $30 million in 2025, of which $15 million will be deferred and paid on July 1, 2027.

Snell will now join Chapman, Jung Hoo Lee, Jorge Soler, and Jordan Hicks as the Giants’ big-ticket free agents. He will be coming to the team with less than a week left in Spring Training, putting a bow on a busy offseason for the Giants.

Snell, posted 71-55 with a 3.20 ERA in 191 starts over eight major league seasons, winning Cy Youngs in 2018 with Tampa Bay and last year with San Diego.

Last season, right before hitting the free-agency market, he enjoyed one of the most successful seasons by a pitcher. Leading the Majors with a 2.25 ERA and the NL with 6.0 bWAR in 180 innings. From a sheer run-prevention standpoint, the best inning-per-inning starting pitcher in 2023.

The Giants will now sport the top two finishers in the 2023 NL Cy Young voting, Snell and Logan Webb leading their rotation. With the blockbuster late-spring signing, led the Giants to form a superb one-two rotation punch, Snell combines with ace right-hander Webb.

The Giants have now spent more than $300 million on free agents this winter, with $100 million-plus being spent during spring training alone.

The latest signing, Snell, 31, has been one of the best left-handed starters in baseball over the past eight seasons. He’s one of seven pitchers in MLB history with a Cy Young in both leagues.