Former Blue Jay Matt Chapman finalizes $54 million deal with Giants

Toronto Blue Jays third baseman Matt Chapman (26) looks on during eighth inning American League MLB baseball action against the Boston Red Sox in Toronto, Sunday, Sept. 17, 2023. THE CANADIAN PRESS/Andrew Lahodynskyj

Third baseman Matt Chapman and the San Francisco Giants have finalized their contract that guarantees $54 million over three years.

Chapman gets a $2 million signing bonus and a $16 million salary this year under the deal announced Sunday, and his agreement includes a $17 million player option for 2025 with a $2 million buyout. If Chapman exercises that option, he has an $18 million player option for 2026 with a $3 million buyout. The deal includes a $20 million mutual option for 2027 with a $1 million buyout.

As a result, he could earn $20 million for one year, $38 million for two years, $54 million for three years or $73 million for four years.

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The 30-year-old won his fourth Gold Glove last year and turned down a $20,325,000 qualifying offer from Toronto. Because Chapman turned down the qualifying offer, the Giants lost their second-round draft pick and gave up $500,000 from their international signing bonus pool. Toronto gets an extra draft selection after the fourth round.

To open a roster spot, the Giants put right-hander Tristan Beck on the 60-day injured list with a vascular injury. Beck is to have surgery Monday to remove an aneurysm in the upper part of his pitching arm.

Chapman batted .240 with 17 home runs, 39 doubles, 54 RBIs and a .755 OPS in 140 games. Toronto finished third in the AL East at 89-73 and was swept by Minnesota in their best-of-three Wild Card Series.

Chapman got off to a huge start, hitting .384 with a 1.152 OPS and 21 RBIs through the end of April, but he slumped most of the rest of the way, tailing off to .205 with five homers, 15 RBIs and a .663 OPS in the second half.

The right-handed hitter set career highs with 36 homers and 91 RBIs for Oakland in 2019, when he made his only All-Star team and finished sixth in AL MVP voting.

His OPS dipped to .716 with 202 strikeouts in 2021 before a rebuilding Oakland team traded him to Toronto in March 2022 for a package of four players.

Chapman is a .240 career hitter with 155 homers and a .790 OPS in seven major league seasons. He was seventh in AL MVP balloting in 2018.

Chapman was selected 25th overall by the Athletics in the 2014 amateur draft out of Cal State Fullerton. He played the past two seasons under a $25 million, two-year contract, making a $12.5 million salary each season.

J.D. Davis is the incumbent at third base with the Giants, and he also can play first base and left field. Chapman batted .307 with an .890 OPS against left-handed pitchers last year while Davis hit .247 with a .728 OPS against lefties.

Chapman became the fourth free agent addition for the Giants after outfielder Jorge Soler reached a $43 million, three-year deal, reliever Jordan Hicks agreed to a $44 million, four-year contract and catcher Tom Murphy struck an $8.25 million, two-year agreement.

Chapman will make a $90,000 donation this year to Giants Community Fund and, if the options are exercised, $85,000 in 2025, $90,000 in 2026 and $100,000 in 2027.

His deal is similar to the $80 million, three-year agreement between the Chicago Cubs and outfielder Cody Bellinger, who can earn $30 million this year, $30 million in 2025 and $20 million in 2026. The former NL MVP also can opt out after each season.

Both deals were negotiated by agent Scott Boras, who also has pitchers Blake Snell and Jordan Montgomery along with designated hitter J.D. Martinez still remaining on the market.