Tim Lincecum and the San Francisco Giants avoided a potentially divisive salary arbitration hearing, reaching a preliminary agreement Friday on a $23 million, two-year contract that gives the two-time NL Cy Young Award winner a huge raise.

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The sides had been scheduled for a hearing Friday, and the lean right-hander with a high leg kick and stringy hair had asked for an arbitration-record $13 million. The Giants offered $8 million to the two-time All-Star, eligible for arbitration for the first time after making $650,000.
Lincecum gets a $2 million signing bonus, $8 million this year, $13 million in 2011 and the chance to earn performance and award bonuses. The agreement is subject to a physical.

Oddsmakers from online sports book Sports Interaction have made the Giants a 20/1 long shot to win the 2010 World Series. Oddsmakers also list San Fran as a 10/1 long shot to win the National League Championship in 2010.

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Posted: 2/13/10 2:35PM ET