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Giants tender qualifying offers to Madison Bumgarner and Will Smith

With MLB free agency officially underway, the San Francisco Giants have tendered qualifying offers to their two big free agents, starting pitcher Madison Bumgarner and reliever Will Smith.

If you’re unfamiliar with the qualifying offer system, it’s fairly simple. The players have ten days to accept or reject the offer, which is a one-year deal based on the average price of the 125 richest contracts in MLB. This year, that figure is $17.8 million, which is down slightly from a year ago.

Madison Bumgarner and Will Smith both got the qualifying offer ($17.