SAN FRANCISCO -- Madison Bumgarner has received a $17.8 million qualifying offer from the San Francisco Giants, a move that likely will decrease demand for him in the free-agent market.
San Francisco's decision Monday means a team signing Bumgarner would lose at least one pick in next year's amateur draft as compensation unless a deal is struck after the draft starts in June. Compensation caused pitchers Dallas Keuchel and Craig Kimbrel to wait until after the draft to sign 2019 contracts.
San Francisco also made a qualifying offer to left-handed reliever Will Smith, who went 6-0 with a 2.76 ERA and 34 saves in 63 appearances.
Bumgarner, the 2014 World Series MVP, all but said his goodbye to San Francisco on the season's final day.
He didn't pitch Sept. 29 as originally planned in a 9-0 loss to the Dodgers on the last day of the regular season and manager Bruce Bochy's final game leading into retirement but drew a rousing standing ovation before lining out as a pinch-hitter with two outs in the fifth against Clayton Kershaw.
San Francisco's big lefty tipped and waved his batting helmet in every direction to acknowledge the fans in what might have been his last hurrah a Giants uniform. He went 9-9 with a 3.90 ERA over 34 starts this year after two injury-shortened seasons.
Bumgarner, 30, wrapped up a $35.56 million, six-year contract singed in April 2012 that included $12 million club options for both 2018 and '19. The Giants opted not to deal him at the trade deadline.
San Francisco still is searching for its next manager.