PADRES GET CREATIVE WITH WACHA’S DEAL
Vet’s one-year pact has 3 player options, 2-year team option
Michael Wacha wanted a multi-year deal and wanted to play for a contender.
The Padres wanted a veteran starter and wanted to keep costs somewhat under control.
They made it happen. The sides agreed in principle Tuesday and finalized a deal Wednesday. Wacha was signed and in uniform Thursday morning at the Peoria Sports Complex.
The contract is technically for one year. But it could be for three or four, as it includes one two-year team option or three oneyear player options.
“It was definitely a creative deal to get some stuff done,” Wacha said. “I think it works out pretty well for both sides. There (are) options in there if need be — if they want to pick them up, or I can opt out. But for now, and where my head is at, this is the place where I want to be for the next few years, and I couldn’t be more excited.”
Wacha, who with a $3.5 million signing bonus will make a total of $7.5 million in 2023, has player options for each of the following three seasons that total $18.5 million. Those options would be voided if the Padres pick up a two-year option after the ’23 season that would guarantee Wacha $16 million in both ’24 and ’25.
The 31-year-old righthander with a 74-50 career record is guaranteed $26 million in the deal and could, with $2 million available in incentives, make as much as $41.5 million over three years. The structure is similar to the creative threeyear pact signed by Padres pitcher Nick Martinez in November.
The average annual value of the contract is $6.5 million (based on $26 million over four years). So the signing gets the Padres right up against the $273 million third threshold of the Competitive Balance Tax.
The CBT takes into account the average annual
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