Tim Lincecum and the San Francisco Giants have agreed to a two-year deal that will pay him $23 million. Apparently, the agreement came just before arbitration was to begin today, when the two camps' representatives stepped out of the hearing room in Florida to try to reach a deal.

The arbitration panel would have decided between the$13 million figure that Lincecum submitted or the $8 million figure submitted by the Giants.

Apparently, the two sides were sitting down in the hearing room in Florida this morning when they agreed to step outside for more negotiations. After a little more than an hour, they agreed to terms.

The 25-year-old, two-time Cy Young Award winner will receive $8 million in salary and a $1 million bonus this year and $13 million in salary and a $1 million next year.

As the news begins to trickle out, the interesting thing we find out here is that on Wednesday that the Giants had made a three-year, $37 million offer with annual salaries of $9.5 million, $12.5 million and $15 million, and that the Lincecum camp countered with a proposal north of $40 million.

Lincecum has taken a gamble here that he will unquestionably make more than $14 million in a contract three years from now. I'm not so sure that this was a wise decision.  In fact, his gamble could turn out to be a grave mistake. To leave $14 million guaranteed on the table gambling that he will both be healthy and be performing at the same level three years from now seems like quite a gamble to me.

The concerns that scouts have had about him all along are legitimate. In fact, it's why Seattle passed up on him and didn't take him first in the draft. I think the Giants made out like bandits on this one. In my eyes this agreement entered into by the Giants only lends further credence to what I said on February 3rd. The San Francisco Giants intentions are to trade Lincecum just before his arbitration eligibility expires a few years from now. - Michael Cruise

Mike's family has had SF Giants season tickets since 1958, the Giants inaugural season in San Francisco. Mike is "the biggest SF Giants fan in the nation"

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