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Giants

Giants Reach Deal With Tim Lincecum

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Tim Lincecum #55 of the San Francisco Giants pitches against the Philadelphia Phillies in the eighth inning during an MLB baseball game at AT&T Park August 7, 2011 in San Francisco, California. The Giants won the game 3-1. (Photo by Thearon W. Henderson/Getty Images)

Tim Lincecum #55 of the San Francisco Giants pitches against the Philadelphia Phillies in the eighth inning during an MLB baseball game at AT&T Park August 7, 2011 in San Francisco, California. The Giants won the game 3-1. (Photo by Thearon W. Henderson/Getty Images)

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SAN FRANCISCO (AP) — Two-time NL Cy Young Award winner Tim Lincecum and the San Francisco Giants have reached a verbal agreement on a two-year contract worth about $40 million.

Giants executive Bobby Evans announced the deal Tuesday. It is subject to a physical and avoids an arbitration hearing.

Lincecum had asked for a near-record $21.5 million in salary arbitration and had been offered $17 million by the club.

The 27-year-old, the winning pitcher in the Game 5 World Series clincher at Texas in 2010, earned $13.1 million last season when he completed a two-year deal worth $23.2 million.

Copyright 2012 The Associated Press.

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