The Padres are securing their star third baseman.
The San Diego Padres and star Manny Machado are finalizing an 11-year, $350 million contract extension, according to reports.
The deal comes a week after Machado said he would opt out of the final five years of his contract that he initially signed with the Padres in 2019 after a brief stint with the Dodgers. The final five years of the previous deal owed the third baseman $150 million.
The newly reported contract extension keeps the star in San Diego through the 2033 season.
The new deal keeps the six-time All-Star in San Diego without testing the free agency market next winter, a market Machado said has “a lot of money available” during a spring training interview last week.
The Padres’ front office is adamant about splurging big to win the franchise’s first World Series.
In December, the team signed formerThe addition of Bogaerts will force Fernando Tatis Jr., who signed a 14-year, $340 million contract in 2021, into the outfield
Earlier this month, right-hander Yu Darvish signed a six-year, $108 million contract extension with the team. Right-hander Joe Musgrove capped an All-Star season by signing his five-year, $100 million contract in August.
With Juan Soto’s impending free agency looming, the Padres currently have the third-highest competitive balance tax payroll in MLB at more than $266 million, according to Baseball Prospectus.
Machado finished second in National League MVP voting last season, losing to St. Louis’ Paul Goldschmidt. The two-time Gold Glove winner played one of his best seasons with the Padres in 2022, slashing .298/.366/.531 with 32 home runs and 102 RBIs.