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What qualifying offers mean for Giants, Madison Bumgarner and Will Smith

SAN FRANCISCO — From the moment the trade deadline passed, the Giants knew their only hope of receiving a return for losing Madison Bumgarner could come through extending the starter a qualifying offer during the offseason.

Five days after the World Series ended, the Giants made it official as the club announced a decision to give Bumgarner a one-year, $17.8 million offer to remain with San Francisco.

In the coming days, Bumgarner is expected to formally reject the qualifying offer and explore all of his options in free agency. Another pitcher who received the same offer from the Giants on Monday, closer Will Smith, may find the deal is too good to pass up.