The Giants will sign right-hander Matt Cain to an extension "in the neighborhood of" five years and $110MM by Opening Day, two sources tell John Shea of the San Francisco Chronicle (on Twitter). Landon Williams and Rick Landrum of CAA Sports represent Cain, who had been scheduled to hit free agency following the 2012 season.

Cain has emerged as a frontline starter in recent years and the upcoming deal would establish a record for right-handed pitchers, as long as it's worth more than $105MM. The 27-year-old has completed 200 innings in five consecutive seasons, and has impressive career rate stats. He consistently outperforms his strong peripheral stats to post low ERAs. Most recently, he posted a 2.88 ERA with 7.3 K/9, 2.6 BB/9 and a 41.7% ground ball rate in 221 2/3 innings last year.

The deal figures to affect at least two other ace pitchers: Tim Lincecum and Cole Hamels. Lincecum is on track for free agency following the 2013 season and Hamels will be eligible for free agency this winter. Should Hamels reach a deal with the Phillies, it will presumably mirror Cain's contract. Zack Greinke could also use Cain's deal as a reference point in talks with the Brewers.

Cain will earn $15MM in 2012. Luke Adams of MLBTR anticipated the terms of the upcoming extension with considerable accuracy in December.

This post was originally published on April 2nd, 2012.