Yesterday afternoon, the Giants gave a six-year contract extension valued at $127.5 million to standout pitcher Matt Cain, 27, who would have been a highly sought-after free agent after this season.

Last night, the Reds went 10 years and $220 million with star first baseman Joey Votto, 28, who still had two years remaining on his current deal. The extension will keep him under Cincinnati’s control until he is 40.

With so many young, talented players in the process of being locked up long-term, soon the free agent market may be thinner than John Thune.

More here and here.