The Phillies had several reasons for trading Hunter Pence to the Giants at last season's deadline.

They were going nowhere in 2012 and wanted to re-stock a farm system that traded away 14 prospects for Cliff Lee, Roy Halladay, Roy Oswalt and Pence in the previous four years.

They sought to get under the luxury tax threshold of $178 million, and did so by unloading the remaining portions of the 2012 salaries for Pence, Shane Victorino and Joe Blanton.

But a third part of the equation came into play Friday when the Giants and Pence avoided arbitration by agreeing to a one-year deal: Pence probably isn't worth the money he would make in 2013 or beyond.

The Giants will pay Pence $13.8 million next season. It was the largest salary paid to an arbitration-eligible player this offseason. And it could be a precursor to a deal next winter in between the one Nick Swisher received from the Indians (four years, $56 million) and what the Braves gave B.J. Upton (five years, $75 million).