According to a source who spoke with MLB.com’s Mark Feinsand on Friday night, Matt Chapman, one of the top remaining position players in the free-agent market, has secured a three-year contract worth $54 million with the Giants.
The Giants have yet to confirm the deal, but Feinsand’s report indicates that Chapman will earn $20 million in the first year, followed by $18 million and $16 million in the subsequent years. Additionally, the contract includes opt-out clauses after each of the first two years.
Matt Chapman has agreed to a three-year, $54 million contract with the Giants, per source. The deal includes opt outs after each of the first two seasons. Chapman will earn $20 million in 2024, $18 million in 2025, and $16 million in 2026. @JonHeyman was on it.
— Mark Feinsand (@Feinsand) March 2, 2024
The move would bring Chapman back together with manager Bob Melvin, with whom he spent five seasons in Oakland from 2017 to 2021.
Initially, the 2023 season appeared promising for Chapman. He earned the title of AL Player of the Month for April, leading all hitters with a 1.152 OPS and a 219 wRC+ during the season’s opening month. However, this would mark the peak of his performance for the year.
Following April 30, Chapman’s offensive production declined significantly, with a .205/.298/.361 slash line, an 84 wRC+, and a 29.8% strikeout rate. As a result, he was moved down the batting order for the Blue Jays, even batting eighth in their postseason games. With only 17 homers, it was his lowest output in a full season since his rookie year in 2017.
Despite his struggles, Chapman’s ability to make solid contact remained evident. His 56.2% hard-hit rate ranked second among qualified hitters, and his 17.1% barrel rate was among the top four in MLB, trailing only Aaron Judge, Shohei Ohtani, and Yordan Alvarez.
While Chapman’s defensive metrics have declined in his time with Toronto, he remains a reliable presence at third base. As a four-time Gold Glove winner and two-time Platinum Glove winner, he recorded five Outs Above Average at the hot corner last season, tying for ninth-most at the position.
Originally drafted by the A’s in the first round of the 2014 Draft, Chapman spent his first five MLB seasons with Oakland, boasting an average wRC+ of 120 during that time, which ranked 10th highest among qualified third basemen. He had a standout year in 2018 with 24 homers and an .864 OPS, followed by a career-high 36 home runs and an .848 OPS in 2019, the same year he earned his lone All-Star selection to date.