Team: Giants reach deal with Tim Lincecum

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SAN FRANCISCO (AP) -- Giants executive Bobby Evans says the team and ace Tim Lincecum have reached verbal agreement on a two-year contract worth about $40 million.

The deal, subject to a physical, avoids an arbitration hearing. Lincecum had asked for a near-record $21.5 million in salary arbitration and had been offered $17 million by the club.

The 27-year-old Lincecum, the winning pitcher in the Game 5 World Series clincher at Texas in 2010, earned $13.1 million last season when he completed a two-year deal worth $23.2 million.