A breakdown of where Giants payroll will be spent in 2012

By our count, Giants have $5 million available to spend in 2012.

That’s based on the number of a $130 million budget that GM Brian Sabean said the Giants will operate at in 2012.

So we took a look a players currently under contract (source: Baseball reference), players eligible for arbitration (projected arbitration money is from mlbtraderumors.com) and non-arbitration eligible players (most of whom we just set at $500K for simplicity).

By doing that, we set the Giants’ current payroll at about $124.7 million. This figure also includes the $12 million the Giants will pay Aaron Rowand NOT to be on the roster in 2012.

There is some give-and-take in these numbers. The arbitration projections could be off. The Giants could sign arbitration-eligible players to multi-year deals that are back-loaded, which would save them some money in 2012.

But here’s how we broke it down:

STARTING PITCHERS

Barry Zito $19 million

Tim Lincecum $19.2 million (projected via arbitration)

Matt Cain $15 million

Madison Bumgarner $500,000

Ryan Vogelsong $2.5 million (projected via arbitration)

Total: $56.2 million

BULLPEN

Brian Wilson $8.5 million

Jeremy Affeldt $5 million

Javier Lopez $4.25 million

Sergio Romo $1.3 million (projected via arbitration)

Santiago Casilla $1.9 million (projected via arbitration)

Dan Runzler $500,000

Guillermo Mota $1 million (estimated)

Total: $22.7 million

STARTING 8

1B Aubrey Huff $10 million

2B Freddy Sanchez $6 million

SS Brandon Crawford $500,000

3B Pablo Sandoval $3.2 million (projected via arbitration)

C Buster Posey $650,000

OF Melky Cabrera $4.4 million (projected via arbitration)

OF Angel Pagan $4.7 million (projected via arbitration)

OF Nate Schierholtz $1.2 million (projected via arbitration)

Total: $30.65 million

BENCH

1B/OF Brandon Belt $500,000

C Chris Stewart $500,000

IF Mike Fontenot $1.3 million (projected via arbitration)

IF/OF Emmanuel Burriss $600,000 (projected via arbitration)

1B Brett Pill $500,000

Total: $3.4 million

NON-TENDERS: Jeff Keppinger, Eli Whiteside

MONEY NOT ON ROSTER: Aaron Rowand $12 million