In San Diego, Where The Money Flows Likes Margaritas, The Padres And Manny Machado Toast A Long-Term Extension

Next year’s free-agent frenzy lost a little luster with third baseman Manny Machado staying with the San Diego Padres.

Machado, a runner-up in last season’s National League MVP balloting, has agreed to an 11-year, $350 million extension to remain in San Diego according to various reports.

Leading up to spring training, Machado informed the club he would be exercising the opt-out clause in his original deal after the year, where he would potentially join Los Angeles Angeles superstar Shohei Ohtani as a marquee free agent.

But Padres owner Peter Seidler elected to ensure that Machado, who had six years and $180 million remaining on his contract, wouldn’t reach free agency by approving yet another blockbuster deal.

This comes on the heels of the Padres signing shortstop Xander Bogaerts to an 11-year, $280 million pact, which is the third-highest contract on the squad, and the extension of right-hander Yu Darvish’s contract for six years and $108 million, during their expensive offseason.

With Machado’s fresh commitment starting this year, he’s under contract through 2033, which is his age-41 season.

It’s believed Machado’s extension is eclipsed in Major League Baseball only by the ones signed by Angels outfielder Mike Trout (12 years/$426 million) and Los Angeles Dodgers standout Mookie Betts (12 years/$365 million).

When the Padres shocked many by inking Machado to a 10-year, $300 million pact before the 2019 season, it started in earnest the organization’s amazing turnaround from regularly operating with one of baseball’s lowest payrolls to them now flexing their financial might.

Only the New York Mets, Yankees and Philadelphia Phillies, according to Spotrac, are posses larger payrolls this season than the Padres’ franchise-high of at least $220 million.

Now that Seidler has accomplished what he deemed his “top priority” in extending Machado, might Padres outfielder Juan Soto be next?

There seems to be no end in Seidler’s aggressive spending in his quest to bring the Padres their first World Series title.

Soto, who will make $23 million this year after being acquired last summer from the Washington Nationals for a bevy of prospects, becomes a free agent following the 2024 season.