Machado, agrees to $350M, 11-year extension
The Padres are locking down their star third baseman.
Manny Machado agreed to an 11year, $350 million contract extension, according multiple sources.
The deal comes a week after Machado said he would opt out of the final five years of his contract that he initially inked with the Padres in 2019 after a short stint with the Dodgers. The final five years of the previous deal owed the third baseman $150 million.
The new contract extension keeps the star in San Diego through the 2033 season without him testing the free-agency market next winter, a market that Machado said has “lot of money out there.”
The Padres front office remains steadfast in making big splurges in order to win the franchise’s first World Series.
In December, the team signed former Red Sox shortstop Xander Bogaerts to an 11-year, $280 million contract. Bogaerts’ addition will force Fernando Tatis Jr., who signed a 14-year, $340 million deal in 2021, to the outfield after he returns from suspension.
Earlier this month, right-hander Yu Darvish inked a six-year, $108 million extension with the team. Right-hander Joe Musgrove capped an All-Star season by signing his five-year, $100 million deal in August.
With Juan Soto’s impending free agency looming, the Padres carry the third-highest competitive-balance-tax payroll in MLB at more than $266 million, according to Baseball Prospectus.
Machado finished second in the National League MVP voting last season, losing to St. Louis’ Paul Goldschmidt. The two-time Gold Glove award winner played one of his best seasons with the Padres in 2022, slashing .298/.366/.531 with 32 homers and 102 RBI.