The Yankees have signed Blake Snell from the Giants to a three-year contract valued at…

Blake Snell signing two-year contract with Giants as renewed Yankees interest falls apart

Scottsdale, Arizona — Blake Snell, the reigning National League Cy Young winner, has agreed to a $62 million, two-year contract with the San Francisco Giants after late talks with the Yankees failed to produce an agreement, The Post has learned.

Snell’s contract with the Giants contains an opt-out after the first year. It is awaiting a physical.

With this huge late-spring deal, the Giants have a great one-two rotation punch, combining Snell with ace right-hander Logan Webb.

Snell, 30, is 71-55 with a 3.20 ERA in 191 starts across eight major league seasons, including Cy Young awards in 2018 with Tampa Bay and last year with San Diego.

In 2023, he went 14-9 with a 2.25 ERA, which led the National League. Webb finished second in the Cy Young voting later that year.

The Yankees and Snell’s agent, Scott Boras, resumed talks in recent days, but they were unable to reach an agreement after exploring multiple options to mitigate the 110 percent, fourth-tier tax the Yankees face as a team above the final $297 million barrier.

Snell’s preference is unknown, but a handful of former teammates speculated that he could have chosen to stay on the West Coast, and the Yankees wonder if that was also an option.

Boras and the Yankees were attempting to find inventive methods to reduce the tax, but he was going to be quite expensive for the Yankees, as they are one of three clubs over the fourth-tier tax, with no obvious option to cut salary.

The Yankees will continue to pursue starting pitching, but their options are limited, especially because they are even less confident. Jordan Montgomery, the top remaining free agent, is eager in returning to the Bronx.

Montgomery has been linked to his previous Rangers team, where he helped them win their first World Series in 2023 with a strong postseason performance, as well as the Red Sox and Cubs, although it’s unclear whether anything is imminent with him.

The Yankees have been unable to get traction in trade talks for Marlins star Jesus Luzardo or others, and the starters who remain available are more depth pieces, highlighted by 2023 All-Star Michael Lorenzen and Mike Clevinger.

Trevor Bauer, a former Cy Young winner, has offered to accept a deal for the minimum (plus incentives) to return to MLB after serving the game’s longest domestic violence ban.

However, the Yankees have shown no interest in Bauer, and he and Yankees ace Gerrit Cole were not on good terms during their time together on what must have been an incredible UCLA rotation.

Trevor Bauer will throw for the Diablos Rojos of the Mexican League against the Yankees on Sunday.
Trevor Bauer pitches for a Mexican League team against the Yankees as his search for a return to MLB continues.
Meanwhile, the Giants have committed more than $300 million to free agents this winter, with more than $100 million spent only in spring training.

Gold Glove third baseman Matt Chapman, former World Series MVP Jorge Soler, 104-mph pitcher Jordan Hicks, and reliable backup catcher Tom Murphy.

While their expenditure pales in comparison to the rival Dodgers, who spent more than $1 billion on just two-way phenom Shohei Ohtani and desired free-agent starter Yoshinobu Yamamoto, the Giants were the second most spenders this winter.

Though the Giants have been labeled as a team that struggles to attract free agents, they clearly did an excellent job assembling them this winter.

New Giants manager Bob Melvin endorsed both Chapman and Snell, whom he handled in Oakland and San Diego, respectively.

While there were some speculations about Snell’s personality influencing his free agency, those who knew him said that was an unjust criticism, and Melvin, who spent two years in San Diego, told The Post only Sunday, “I want Blake to go anywhere he’s happy. “He’s a great kid and a good pitcher.”

Apparently, he has done so now.