Giants add 2021 Cy Young winner Robbie Ray in trade with Mariners

Ray signed a nine-figure deal with the Mariners in free agency following the 2021 season. Ray had starred with the Toronto Blue Jays and won the 2021 American League Cy Young. Ray was effective in his first season with Seattle, posting a 3.71 ERA (4.16 FIP) with 212 strikeouts and 62 walks in 189 innings pitched (32 starts). However, injuries limited him to just one appearance in 2023. He underwent UCL surgery that will likely keep him out until after the All-Star break. Moreover, he has $73 million in guaranteed money left on his contract over the next three years.

Ray's contract does include an opt-out after the 2024 season. So it is conceivable that he could become a free agent next winter if he hits the ground running in his return. However, in that scenario, the Giants would still have cleared salary and roster flexibility in this deal alongside likely getting a couple of months of ace-level performance from Ray. Barring that, it's hard to envision him opting out of the remaining two years and $50 million in guarantees.

The Giants are willing to take on that risk for several reasons. Primarily that Haniger and DeSclafani have roughly $50 million in guaranteed money left on their contracts as well. Neither has shown Ray's upside. Both were seemingly eight-figure depth pieces at positions where San Francisco has several other options. This swap clears a roster spot and saves them money in the short run since Ray's contract will pay him less than Haniger and DeSclafani combined in 2024.

For Haniger, his rough first season in San Francisco after inking a three-year deal last offseason was hampered by injuries. During his first season with the club, Haniger slashed just .209/.266/.365 in 229 plate appearances with six homers and 28 runs batted in. The Mariners will hope he can bounce back in a reunion with them next season. With a backlog of DH/LF options already on the roster, the Giants decided to move on.

DeSclafani got off to a promising start this season, recording a 2.70 ERA with 27 strikeouts and just three walks across 30 innings pitched in his first five starts of the season. However, perhaps induced by a season-ending elbow injury, DeSclafani's performance fell off a cliff when the calendar turned to May. Ultimately, he finished the season with a 4.88 ERA (4.38 FIP), 79 strikeouts, and 20 walks in 99.2 innings pitched (19 appearances).

Set to turn 34 next April, the Mariners will hope DeSclafani can reestablish himself as a quality mid-rotation starter next season. 2024 will be DeSclafani's final season in his current three-year, $36 million contract. DeSclafani, of course, was a key contributor during the Giants 107-win campaign in 2021. In arguably the best season of his career, he posted a 3.17 ERA in 167.2 innings pitched across 32 starts with two complete game shutouts.

Over the past two years, though, DeSclafani has seen his on-field performance regress as he's dealt with several injuries. From 2022-2023, DeSclafani has appeared in just 24 games and struggled to a 5.16 ERA (4.43 FIP) in 118.2 innings pitched with 96 strikeouts, 24 walks, and 19 home runs allowed. With younger starters abound, DeSclafani was ruled expendable.