A sizable gap still exists between the Giants and arbitration eligible right-hander Tim Lincecum as the sides explore a possible extension, Jon Heyman of CBSSports.com reports. Negotiations have taken place this winter, but the sides appear to remain a couple of years and tens of millions of dollars apart.

The Giants are believed to have offered Lincecum four years and $80MM or so this past summer and appear to have enhanced the proposal in the past few weeks. Lincecum is “thought to be seeking an eight-year deal,” but Heyman hears that the sides are also presently considering one and two-year options.

Lincecum projects to earn a 2012 salary of $19.2MM through arbitration. The Giants control his rights through 2013, when his salary could approach or exceed $25MM through arbitration. The Giants’ ultimate goal has been to buy out some of Lincecum’s free agent years, according to Heyman.

Lincecum, 27, has a 2.98 ERA with 9.9 K/9, 3.3 BB/9 and a 47.1% ground ball rate in 1028 career innings. The Beverly Hills Sports Council client has two Cy Young Awards and four All-Star Game selections to his name. Only four pitchers — Roy Halladay, C.C. Sabathia, Justin Verlander and Dan Haren — have produced more wins above replacement since 2007, Lincecum's rookie season.