SAN FRANCISCO _ During the Giants' brief playoff run, someone asked CEO Larry Baer where he planned to put a Madison Bumgarner statue.
"We have a rule that you have to be retired for that to happen," Baer said with a laugh.
Bumgarner is nowhere near retirement age, and although he's under club control for three more seasons, the Giants would like to assure an animated version of their ace is with them well beyond 2019. GM Bobby Evans confirmed he has had preliminary talks with Bumgarner and his agent about a major restructuring of the left-hander's contract.
"When they're interested in talking, we want to make sure we're available," Evans said. "But we don't have a timeline. We want Madison to be here for a long time. At the right time, we'll address this when his camp is ready to talk."
Bumgarner, 27, should be a first-time free agent this winter, and considering his combination of age, accomplishments and a bare market for pitchers, he most assuredly would destroy the record salary for a pitcher both in terms of guaranteed money ($217 million to David Price) and average annual value ($34.417 million to Zack Greinke).
Instead, the Giants have him locked into an $11.5 million salary next year, and hold $12 million club options for the following two seasons. The contract he signed in 2012 has turned into baseball's biggest bargain.
Baer described Bumgarner's value to the Giants as "incalculable" but was vague when asked how much of a priority a restructured contract would be.
"I think that remains to be seen," Baer said. "It'll be the product of conversations going forward. ... He's been a tremendous asset for us. He's done historic things. But, look, obviously, we want to make Madison a Giant for a long, long time to come _ well-beyond his current contract."
Although Bumgarner has brushed off any questions about the fairness of his current contract, it's clear that he is thinking ahead. He changed agents twice during this past season, moving from Excel Sports to Relativity to The Legacy Group, headed by Greg Genske.
In 2009, Genske negotiated the $161 million contract between the Yankees and CC Sabathia that set records at the time for a pitcher.
A historic extension for Bumgarner would represent a significant investment for the Giants. Ideally, they would wait one more year to make such a huge commitment.
That's because right-hander Johnny Cueto can opt out of his six-year, $130 million contract after next season _ something he is likely to do if he follows up his stellar Giants debut year with another solid campaign.
But if Cueto were to sustain a significant injury next year, he almost certainly would not opt out, leaving the Giants with $84 million of dead money and much less financial flexibility as a result.
Extending Bumgarner on top of that would mean assuming a ton of risk.
Evans said Cueto's opt-out would not affect how the team makes moves this offseason, nor has he been in touch with the right-hander's agent about tweaking the deal.
"We're continuing to make sure that he loves the city and his teammates and other things to make sure that becomes a hard decision," Evans said.
