It definitely means the Giants will only have to pay Fontenot around $250,000 on a contract worth just over a million dollars. Theriot was in a similar situation and his presence Friday means the club is likely on the hook for his $1.25 million contract.
"I expected to be here," Theriot said.
Emmanuel Burriss and Joaquin Arias are also options at second base, and it appears the club could be leaning toward carrying two backup middle infielders.
"You guys can speculate what you like," Giants manager Bruce Bochy said. "But that's not my place [to say] right now."
A key member of the club's 2010 World Series team, Fontenot, 31, hit .250 during the National League Championship Series that year against the Phillies and played in a total of eight postseason games during the title run.
Overall, Fontenot, who was acquired from the Cubs in a trade in August 2010, hit .241 with four home runs and 26 RBIs in 113 games during the past two seasons with the Giants.
Theriot and Fontenot were teammates at LSU and with the Chicago Cubs. The pair exchanged text messages early Friday morning and knew there was a possibility that both would not make the club.
"Mike's a great player. He has a lot to offer," Theriot said. "He's a great teammate and great person. It's always a shock when something like that happens but it's the nature of the game. It's the nature of the beast."
Fontenot hit .278 in 13 Cactus League games this spring.
"Mike was a very difficult decision," Bochy said. "He was popular. I talked to him and thanked him for all he did to help us. The numbers were falling; we could not find a spot."
In other moves, the Giants placed pitchers Eric Surkamp (elbow), Dan Runzler (back) and Ryan Vogelsong (back) and second baseman Freddy Sanchez (shoulder) on the disabled list.
Vogelsong is scheduled to pitch in a Minor League game Saturday and is on track to make his regular-season debut April 15 against the Pirates at home. Runzler has started throwing off flat ground and Surkamp could begin to throw next week.