San Francisco Giants Payroll Shouldn’t Limit Free-Agent Pursuits, Insider Says

The belief that the San Francisco Giants may be looking to limit payroll this offseason may be overblown, according to an MLB insider.

Mar 20, 2023; Miami, Florida, USA; Japan starting pitcher Roki Sasaki (14) delivers a pitch during the first inning against Mexico at LoanDepot Park. / Sam Navarro-Imagn Images

Last month, The Athletic reported that the San Francisco Giants might have payroll limitations for the 2025 season.

The reason? The luxury tax. The Giants passed the first luxury tax threshold with a $206 million payroll, marking the first time since 2018 San Francisco passed the threshold.

At the time, it seemed the Giants might be looking to pare things back financially. When the Giants lost pitcher Blake Snell to a five-year deal with the Los Angeles Dodgers, it only reinforced that point.

Then, San Francisco signed shortstop Willy Adames to the largest deal in team history last week.

So, what’s up? Are the Giants trying to add payroll or trim it?

Susan Slusser, who covers Bay Area baseball for the San Francisco Chronicle, spoke to Foul Territory recently about where the Giants were heading payroll-wise. She doesn’t believe the Giants have any issue paying its players.

“I never got the impression that they were going to significantly cut payroll,” Slusser said. “I think, especially last year, they didn't have any problem going over the luxury tax threshold. They signed Jung Hoo Lee, they obviously signed Snell late, they added Chapman, Jorge Soler and they were fine with that.”

Per FanGraphs’ Roster Resource, the Giants have an expected 2025 payroll of $167 million, and that includes Adames’ $182 million deal, along with Chapman’s $151 million extension. The Giants have four players with deals with a total sum of more than $100 million.

That would leave more than enough room for the Giants to pay, say, free-agent pitcher Corbin Burnes to a long-term deal and even stay below the $206 million it paid in salary last season.

Slusser said the Giants are good for it, both now and in the future.

“This is a team with enormous resources,” she said. “They don't just own their own ballpark, they also own all of that development south of the ballpark, which is now starting to get some pretty big clients. Some of the residences are open, and it's kind of a money-making machine there and, of course like every team, they've appreciated in value.”

New president of baseball operations Buster Posey wants to win now. The Giants hired him to put this franchise in position to start winning now. It's been a decade since San Francisco won a World Series and Posey was behind the plate when the Giants won that final series.

From Slusser’s standpoint, between Posey’s competitiveness and a franchise that has the financial resources, everything is there to make it happen.

“To me, if that's your idea (winning), you've got to go out and get Corbin Burnes and if you don't, you sure as heck should be getting (Roki) Sasaki,” Slusser said.