SAN FRANCISCO – If he had to do it all over again, Brian Sabean insists he would sign Barry Zito to that highly scrutinized $126 million, seven-year contract.

“As crazy as this sounds, it might to you folks, if I had to do it over again, I would have done what we did to sign Barry Zito,” Sabean said Friday. “I think we learned a lot from his time here, and our pitching staff has. And, quite frankly when we needed him the most, he helped us win the World Series. I find great solace and satisfaction in that.”

Sabean all but finalized Zito’s long-expected departure following seven tough years, while saying two of his top priorities moving forward from a disappointing 2013 season are re-signing Tim Lincecum and Hunter Pence.

Yes, Lincecum might stay put in the comforts of the Bay Area where “The Freak” has spent his entire seven-year big league career. The pitcher said Thursday he feeds off familiarity and would like to remain with the Giants, and Sabean acknowledged he will try to lock up a deal for Lincecum before he hits free agency.

“Absolutely, that’s why we would be talking to him. Nothing’s changed since the deadline when we didn’t trade him, and that’s the mind set,” Sabean said. “That will be our next course of action. As you know we’re talking to Hunter’s folks now and Timmy will follow suit.”

Lincecum is wrapping up a $40.5 million, two-year contract. He made a quick jump to the majors in May 2007, less than a year after being drafted 10th overall out of Washington.

The 29-year-old right-hander won the NL Cy Young Award in 2008 and ’09 and is a four-time All-Star. He pitched the Game 5 World Series clincher at Texas in 2010 as the Giants captured the franchise’s first championship since moving West in 1958, then delivered as a reliable reliever out of the bullpen during the 2012 title run.

Padres manager Bud Black joked before Friday’s series opener at AT&T Park that if the Giants don’t bring back Lincecum, San Diego will “get in line.” Not that Black expects him to go anywhere — he figures Lincecum will get a new deal.

“I think that’s going to happen,” Black said. “It would surprise me if they didn’t.”

The Giants are in discussions with the representatives for Pence, concluding a $13.8 million, one-year deal. He received the team’s 2013 “Willie Mac Award” on Friday for the most inspirational Giants player named for Hall of Famer Willie McCovey.