Report: Two-time Cy Young winner Blake Snell agrees to $62 million deal with Giants after 3 seasons with Padres

Blake Snell is leaving San Diego for San Francisco.

The two-time Cy Young winner has reportedly agreed to a two-year $62 million deal with the Giants, ending a three-season stint with the Padres and a long, uncertain offseason. MLB Network’s Jon Heyman first reported the news on Monday. Per multiple reports, Snell has an option to opt out after one season.

The deal arrives just 10 days from the start of the regular season after Snell embarked on an arduous free agency with agent Scott Boras. Snell was the No. 4 free agent on Yahoo Sports’ top-25 list and is the last high-profile free agent to secure a deal this offseason. Per multiple reports, the Houston Astros, New York Yankees and Los Angeles Angels were also linked to interest in Snell, but he ultimately landed in San Francisco.

Will Snell maintain his Cy Young form?

Snell, 31, is coming off a resurgent campaign that saw him secure his second career Cy Young Award. He posted an NL-best 2.25 ERA alongside a 1.189 WHIP with 234 strikeouts in 180 innings pitched in 2023. His 5.9 hits allowed per nine innings was best in the NL.

Snell owns a four-pitch arsenal anchored by a high-90s fastball used to set up strikeouts with a plus slider, curveball and changeup. His high strikeout rate allowed him to minimize damage last season despite allowing an NL-most 99 walks.

His ERA last season was his best since his previous Cy Young season with the Tampa Bay Rays in 2018. That year, he posted an AL-best 1.89 ERA.

Snell’s control, or lack thereof, can sometimes cause problems. He posted two seasons with a four-plus ERA in between his Cy Youngs — 4.29 in 2019 and 4.20 in 2021 — but at his best, he’s one of baseball’s most overwhelming pitchers.

After Shohei Ohtani and Japanese pitching phenom Yoshinobu Yamamoto, Snell was arguably the most coveted player on the free-agent market this offseason. He’ll provide significant upside to the top of San Francisco’s rotation.

New era begins for Padres

Snell’s exit from San Diego signals an effort to cut payroll after the Padres made multiple high-profile acquisitions in recent seasons under late owner Peter Seidler. Shortly after trading for Snell in 2020, the Padres struck a deal for fellow All-Star starter Yu Darvish. They traded for perennial MVP candidate Juan Soto at the 2022 trade deadline and signed All-Star infielder Xander Bogaerts to a $280 million free-agent contract the following winter.

Those players joined a roster that already featured rising star Fernando Tatis Jr. and All-Star Manny Machado and was designed to compete for San Diego’s first World Series championship. Indeed, the Padres advanced to the NLCS in 2022 before a disappointing 82-80 campaign in 2023 fell short of the postseason.

The Padres still project to field a competitive roster in 2024 that will be expected to contend for the postseason. But the free-wheeling spending days under Seidler — who died in November — appear to be in the past.