According to the SF Chronicle's Henry Schulman, the Giants and Wilson are not seeing eye-to-eye on the mandatory $6.8 million that would have to come Wilson's way.
"Friday is the deadline for teams to tender contracts to all unsigned players. Under the Collective Bargaining Agreement, any contract offer must be at least 80 percent of what a player made the year before. Wilson earned $8.5 million, so any offer for 2013 would have to be at least $6.8 million."
"The Giants do not intend to offer Wilson a $6.8 million guarantee after he missed the 2012 season (save for two games in April) with an elbow injury that required his second Tommy John surgery. Wilson has done a lot for the organization, particularly his shutdown work in the 2010 regular season and postseason. He’s made them a lot of money in beard merchandising, too. But the Giants believe that’s a lot of money for a pitcher whose future is so clouded by health."
"If the Giants do not tender Wilson a contract by Friday he becomes a free agent. Again, that seems likely to happen. The Giants still could sign Wilson and want to sign Wilson. At that point the 80 percent rule does not apply anymore. The Giants even are willing to give Wilson a major-league contract, but at a low base salary — several million dollars below $6.8 million — with incentives that would pay him a much bigger check if he is able to pitch."
"But I’ve been told Wilson is not keen on that idea, partly because he has given so much to the organization, including the health of his arm in the pursuit of a championship, and feels he should be paid accordingly. That’s completely understandable."