Machado plans to opt out in ’24

Manny Machado says he plans to exercise the opt-out clause in his contract with the San Diego Padres after this season.

Machado signed a 10-year, $300 million deal with the Padres in February 2019, a deal that gives him the right to terminate the agreement after this season and become a free agent.

The third baseman, who turns 31 in July, would forfeit $150 million from his current deal, which calls for a $30 million annual salary through 2028.

“Obviously the team knows where I stand, my situation with the opt-out coming,” Machado said Friday at the Padres’ spring-training camp in Peoria, Ariz.. “I think I’ve expressed that I will be opting out after this year, but I think my focus is not about 2024. I think my focus is about 2023, what I can do to this ballclub, what I’ve done for this organization and what we’re going to continue to do here.”

Machado’s contract was a record for a free agent when he agreed to it and the second largest in the major leagues behind Giancarlo Stanton’s $325 million. But his deal is now tied for the 11th highest after an offseason topped by AL MVP Aaron Judge’s nine-year, $360 million contract to stay with the New York Yankees.

The Los Angeles Angels’ Mike Trout leads the major leagues at $426.5 million.

“Markets change,” Machado said. “From when I signed five years ago. It’s changed tremendously. Things change and evolve. As a player who’s about to opt out, it’s pretty good to see.”

A six-time All-Star, Machado is coming off a season in which he finished second in the NL MVP voting. He batted .298 with 32 homers, 102 RBIs, a .366 on-base percentage and a .531 slugging percentage.