Matt Chapman, a former standout third baseman for the Athletics, has inked a three-year contract worth $54 million with the Giants, finalizing the deal late last night. Included in Chapman’s agreement are options for him to opt out after the upcoming two seasons, allowing him the opportunity to explore free agency again should he continue to perform well.

This contract falls notably short of the expectations for Chapman’s free agency earnings. Reports suggest that he declined a contract extension from the Blue Jays in 2023 worth over $100 million, opting instead for a shorter deal. Projections prior to this offseason estimated Chapman’s potential earnings to exceed $150 million over six years. However, such offers were apparently not on the table, leading Chapman and his agent, Scott Boras, to settle for a deal that allows for future free agency opportunities based on performance.

Under the terms of the contract, Chapman will receive $20 million in 2024, followed by player options of $18 million for 2025 and $16 million for 2026. It is likely that Chapman will pursue free agency after the 2024 season unless his performance drastically declines.

Now entering his age-31 season, Chapman may not be at the peak of his abilities but still remains an above-average player, particularly excelling in defensive skills. He earned his fourth Gold Glove award in 2023 while maintaining a batting line of .240/.330/.424 with 17 home runs in 140 games.

Despite a slight dip in performance compared to his career average, Chapman’s 3.5 fWAR, as assessed by Fangraphs, ranks him 58th among all MLB hitters in the previous year. Considering the vast number of players in the league, this places Chapman solidly above average.

Even as he progresses into the latter stages of his career, Chapman is expected to be a valuable asset for the Giants in 2024 and beyond. With strong plate discipline, power hitting, and exceptional defense, Chapman is poised to continue providing significant value to whichever team he represents in the coming years. Many teams would consider themselves fortunate to have him on their roster.