According to Tim Brown of Yahoo Sports, the San Francisco Giants offered Tim Lincecum a two-year deal worth $40M, and his reps countered at two years/$44M. Several days ago, Lincecum and the Giants each filed record-breaking arbitration figures; Lincecum filed at $21.5M, while the Giants filed at $17M. Chris Haft of MLB.com wrote last night that talks between the two were progressing, as they edge closer to an agreement.

The 27-year-old right-hander is in his third year of arbitration eligibility. In 2011, he posted a 2.74 ERA with 220 strikeouts in 217 innings.

• Twitter / @TBrownYahoo: Sources: Giants offered Li ...
  "Sources: Giants offered Lincecum two-year, $40-million deal. Lincecum reps countered at two and $44 mil. Sounds like they can get it done."

• Tim Lincecum, Giants moving closer to deal | MLB.com: News
  Tim Lincecum and the Giants are edging closer to a contract agreement that would enable the parties to avoid a potentially divisive salary arbitration hearing.