Machado, Padres agree to new $350M, 11-year deal
All-Star slugger Manny Machado has agreed to a new $350 million, 11-year contract that will keep him with the San Diego Padres through 2033, according to a person with knowledge of the deal.
The person spoke to The Associated Press on condition of anonymity because Machado must pass a physical before the deal, which was first reported by ESPN, is finalized.
“We’re excited to be here for the rest of our careers and have this hat go into the Hall of Fame,” Machado said as he passed a group of reporters before batting second against the Arizona Diamondbacks and going 2 for 3.
Machado, 30, had said that after this season he planned to opt out of the $300 million, 10-year free agent deal he signed in 2019. With the $120 million he already has received, the new deal increases the free-spending Padres’ commitment to Machado to $470 million over 15 years.
Machado, who has helped turn the Padres into a World Series contender, finished second in the NL MVP race last year. He’ll anchor a superstar-laden lineup that includes Xander Bogaerts, Juan Soto and Fernando Tatis Jr., who can return on April 20 from an 80-game suspension for performance-enhancing drugs.
Earlier in spring training, Machado said a deadline for negotiating a new deal had passed, but owner Peter Seidler has said that retaining the smooth-fielding third baseman was his top priority.
Seidler, a member of the O’Malley family that once owned the Dodgers, hasn’t been afraid to spend big money in pursuit of the franchise’s first World Series title.
The Padres haven’t been to the Fall Classic since 1998, when they were swept by the New York Yankees.