SAN FRANCISCO -- Right-handed starter Jason Schmidt was offered arbitration by San Francisco, which declined to do the same with eight other players by Friday night's deadline, including slugger Barry Bonds.
Schmidt, 34, earned $10 million last year and is a much-sought-after free agent despite dwindling effectiveness the past two seasons. He's a Type-A free agent, meaning the Giants will receive two compensatory picks if another club signs him.
Asked if the Giants could afford Schmidt, general manager Brian Sabean replied, "We know what his wish list is."
Along with Bonds, those not offered arbitration were catcher Todd Greene, first baseman Shea Hillenbrand, outfielder Steve Finley, reliever Steve Kline, pitcher Jamey Wright and third baseman Pedro Feliz.
The Giants, however, are still negotiating with Bonds' and Feliz's agents.
The news comes soon after it was announced second baseman Ray Durham has been re-signed for two years.
With Greene out of the picture and Gold Glove backstop Mike Matheny still suffering from post-concussion syndrome, the club's newest target is Blue Jays free agent Bengie Molina, 32, who formerly starred for the Angels and is a solid .275 hitter with good power.
Hillenbrand, who made $5.8 million last season, could be replaced at first by Rich Aurilia, expected to ink a two-year pact on Saturday.
The Giants bought out Finley's 2007 option for $1 million and Wright's for $300,000.
Rich Draper is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.