Matt Chapman, one of the "Boras Four" who could not get the deal he had hoped for in the off-season, bet on himself, and it paid off.
A little back story: The Toronto Blue Jays previously offered Chapman a six-year deal worth $125 million before he hit free agency. The third baseman, most likely under the advice of über agent Scott Boras, declined the offer and went to market. Unfortunately for Chapman, the market didn't bite.
After spring training had already started, Chapman landed with the San Francisco Giants on a three-year, $54 million deal, with opt outs after each season. With his $2 million signing bonus, $16 million salary, and $2 million buy-out, Chapman guaranteed himself at least $20 million for the 2024 season, which - after all the math is done - is $833,333 less than he would have made with the Blue Jays had he stayed in Canada.
If Chapman had elected to play for the Giants in 2025, he would have earned $18 million for 2024 (in this case he wouldn't be entitled to the buy-out), and would have earned $17 million for 2025, plus a potential $3 million buy-out. So, after two seasons by the Bay, Chapman would have earned $38 million rather than the $41.666 million he would have earned in Toronto. So far, not so good.
However, as Jeff Passan first reported last night for ESPN, Chapman and the Giants have come to terms on a new deal - 6 years, $151 million, which starts next season. Chapman will receive a $1 million signing bonus in 2025, and $25 million per season for the life of the contract.
Boras clients don't typically agree to extensions; they rarely agree to extensions mid-season; and they most certainly don't agree to extensions when they are having banner platform years that could catapult them into the financial stratosphere. However, by all accounts, Chapman is quite comfortable playing in Northern California (between the A's and the Giants, he has played six of his eight seasons in the 510 and 415 area codes) and has a special relationship with Giants' manager Bob Melvin, who he played for in Oakland as well. Further, according to The Athletic's Andrew Baggarly, Chapman told the club he wanted to stay and pushed the process forward.
The $151 million contract is second-largest in Giants' history, coming in behind only Buster Posey's 9-year, $167 million deal in 2013.
Chapman has proved himself worthy of the investment. He is currently slashing .247/.333/.445 with 22 home runs and 69 RBI, while playing Gold Glove-worthy third base. Chapman's 6.0 bWAR is third in the National League, behind only Shohei Ohtani and Francisco Lindor. And, potentially more important than the back of the baseball card statistics is the consistency and stability that Chapman brings to the team and the clubhouse. He is a steadying presence, having played in 136 of the Giants' 139 games this year.
Had Chapman taken the Blue Jays' offer, he would have earned $125 million from 2024 through 2029. With his two deals with the Giants, he will earn $144 million during that same timeframe, and will add another $25 million on top of that for the 2030 season. Boras may have whiffed the first time, but he certainly didn't miss twice.
This season Matt Chapman has performed well enough to finally get the contract that he previously deserved.