Padres, Manny Machado finalizing massive contract extension: reports
The Padres and Manny Machado are finalizing a massive contract extension that will keep the All-Star slugger in San Diego through the 2033 season, according to multiple reports.
The 30-year-old star third baseman and the Padres are working on an 11-year deal worth $350 million, ESPN’s Jeff Passan reported Sunday morning.
The news, also reported by The Associated Press, follows Machado’s comments from earlier this month when he confirmed his plans to exercise the opt-out clause in his previous contract after the 2023 season.
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“Obviously the team knows where I stand, my situation with the opt-out coming,” Machado told reporters during the Padres’ spring-training camp in Peoria, Arizona, on Feb. 17.
“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. I think we’ve got something special here growing and I don’t think anything’s going to change.”
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Machado signed a $300 million, 10-year deal with the Padres in 2019 – 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 the Padres clearly weren’t interested in letting one of their star players test the waters of free agency.
Having already earned $120 million, the new deal increases San Diego’s commitment to Machado to $470 million over 15 years.
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The reported deal follows a stellar season for Machado, where he was the runner-up in National League MVP voting.
The Associated Press contributed to this report.