The news is in today's Daily Record, although is probably in other papers as well. The article says that Saints chairman Stewart Gilmour has informed the players that they won't be getting new deals, and there are still 8 more players at Love Stret who haven't been offered contracts.
Baker is in his second spell with Saints, after signing in December. He left Love Street in 1997 for Kilmarnock, but they freed him in the summer. He hasn't been that good, and has reportedly had bust ups with John Coughlin.
McGowan signed before the SPL season in 2000 after Motherwell released him. He did well in the SPL, scoring three goals, all against Dunfermline! He didn't do badly in the first division last season, scoring a vital goal in a relegation class against Raith Rovers. This season he hasn't been that good, often injured, although he is the club captain. He reportedly had a bust up with former boss Tom Hendrie before he was sacked in September.
It's fair to assume that neither player will be missed. There is probably only one attribute they have that we will miss, their experience.