Matt Chapman signed a three-year, $54 million contract with the San Francisco Giants just last offseason, but he could find himself on the open market again in just a few months. That's because he has an opt-out clause in his contract that he can exercise after the 2024 campaign, meaning that all eyes are going to be on Chapman over the coming weeks.
In his first season with the Giants, Chapman has put together a strong campaign (.245 BA, 19 HR, 61 RBI, 12 SB, .774 OPS) that has helped him restore some of the value he lost during his time with the Toronto Blue Jays. As a result, Chapman is expected to opt out of his deal this offseason, but he wants to stay in San Francisco, which is good news for the team.
“Giants third baseman Matt Chapman is expected to opt out of his contract after the season, knowing that he can earn more on the open market than $17 million in 2025, $18 million in 2026, with a mutual $20 million option in 2027. Chapman is having his best full season since 2019 and wants to stay in San Francisco, with the Giants expected to talk to him about an extension.” – Bob Nightengale, USA Today
Giants will be looking to keep Matt Chapman around for the foreseeable future
Chapman has come in and been arguably the Giants best player this season, as he's putting up strong numbers at the plate while also continuing to play stellar defense at third base. He technically cashed in last offseason in free agency, but considering the fact that he will be entering his age 32 season next year, it makes sense that he will be looking to maximize his earnings as much as possible while he still can.
While an opt-out seems like, the Giants still have the inside track to keep Chapman around on a long-term deal. They could technically begin extension talks with him whenever they want, and they already have familiarity with each other from last year's negotiations. A new deal that provides Chapman with a bit more security, rather than giving both sides several avenues to get out of the deal, makes a lot of sense.
For the time being, Chapman and the Giants will probably be more focused on finishing up the 2024 campaign, but they could begin extension talks before then. If no new deal comes to fruition, it looks like the star third baseman will be back on the open market, and he could end up being on the move for the second straight offseason, which is precisely what San Francisco doesn't want to have happen.
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