Giants sign former Athletics All-Star third baseman

Former Athletics All-Star third baseman Matt Chapman is returning to the Bay Area, signing a three-year contract worth $54 million with the Giants late last night. Chapman's deal includes player opt-outs after each of the next two seasons, meaning he'll be able to test the free agent market again if he has another good year.

The deal is significantly less than what many thought Chapman would get in free agency. Chapman reportedly turned down a $100m+ extension with the Blue Jays in 2023 that would have kept him in Toronto for the next four or five years.

During this offseason, MLB Trade Rumors projected Chapman to earn north of 6 years and $150 million. That type of contract apparently wasn't out there for him, and he and agent Scott Boras had to settle for a pillow-type deal with the ability to hit the market again if he plays well.

Chapman will earn $20 million in 2024, followed by an $18 million player option for 2025, and a $16 million player option for 2026. It's likely that Chapman will elect free agency after 2024 unless he completely falls apart in San Francisco this year.

Entering his age-31 season, Chapman isn't quite the player he was at his peak but he's still an above average player and an elite defender. He won his fourth Gold Glove award for the Jays in 2023, coupled with a .240/.330/.424 slash line with 17 homers in 140 games.

Fangraphs tabbed him at 3.5 fWAR, below Chapman's career average but good for 58th among all hitters in MLB last year. For reference, there were 1,457 players who played in the majors last year, making Chapman a well above-average player.

Despite being in the latter half of his career Chapman will still be an asset for the Giants in 2024, and likely will be for whatever team he plays for in the following years. He still has good plate discipline and can hit for power, in addition to the world-class defense at the hot corner. He should provide plenty of value for the next few years and most teams would be lucky to have him.