SAN FRANCISCO -- Robb Nen agreed Friday to a $32.5 million, four-year contract extension with the San Francisco Giants that makes him baseball's highest-paid closer.

	Nen

Nen, 22nd on baseball's career saves list with 217, is 3-3 with 32 saves and 1.58 ERA in 54 appearances this season.

"I didn't care about the open market," Nen said before Friday's game against the Chicago Cubs. "I wanted to get it done so I could concentrate on this year and beyond."

Nen gets a $600,000 signing bonus, $6.3 million next season, $8 million in 2002, $8.6 million in 2003 and $9 million in 2004.

He can void the contract after the second or third years, receiving an extra $2 million payment. That means he could become a free agent if the Yankees' Mariano Rivera, eligible for free agency after the 2001 season, changes the market for closers.

If he opts out after 2002, Nen would have received $16.9 million for two seasons, and if he opts out after 2003, Nen would have received $25.5 million for three years.

Nen, acquired by the Giants from the Florida Marlins on Nov. 18, 1997, set a major league record with 14 saves in July.

"This is huge," Giants general manager Brian Sabaen said. "You can't consider yourself a playoff contender unless you have a dominant closer and Nen is certainly that."

Nen has 109 saves in the past three years. Only San Diego's Trevor Hoffman, with 128, has more over the same period.

"This shows we are not only committed to winning, but winning championships," Sabaen said.

Hoffman had been the highest-paid reliever, averaging $8 million in a four-year contract that began this year.