Manny Machado recently planned on opting out of his contract after the season. That won’t need to happen though as he has now reached the 11-year, $350 M extension per Jeff Passan.
The new deal does not contain any opt outs, but Machado will have a full no-trade clause.
The San Diego Padres have geared up for a title run this season, anmd spent a lot of money in order to do so. With a star-studded lineup that consists of Fernando Tatis Jr., Xander Bogaerts, Juan Soto, and Nelson Cruz. There shouldn’t be much in the way of the team looking to win.Though Cruz is aging and only on a one-year contract. Soto is in the midst of his arbitration years.
The new deal runs through 2033, which would be Machado’s age 40 season. Since Machado had six years and $180MM remaining on his previous deal, this new agreement will add five years and $170MM.
Machado, 30, initially signed a 10-year, $300MM deal with the Padres going into 2019, with that deal affording him the ability to opt-out after five years. That opt-out was looming at the end of the upcoming season and multiple factors made it seem like an easy decision for Machado. For one thing, he has continued to produce at an elite level, including a 2022 season that was perhaps his best yet. He hit 32 home runs and stole nine bases last year, finishing the season with a .298/.366/.531 batting line. His 152 wRC+ indicates he was 52% better than the league average hitter. He was also graded as eight Outs Above Average at third base, with his overall contributions leading to a tally of 7.4 wins above replacement per the calculations of FanGraphs.
The market for elite players has been considerably strong this offseason. Many of them have reached nine figures. Aaron Judge got a $360MM guarantee, Trea Turner got $300MM, Bogaerts $280MM, Dansby Swanson $177MM, Carlos Rodón $162MM, Jacob deGrom $185MM and Brandon Nimmo $162MM.
There were reports earlier that the Padres were planning to get an extension done with Machado to prevent him from opting out, though the talks seemed to be in jeopardy as recently as a week ago. Machado’s camp set a deadline for negotiations for Feb. 16. So the deal comes 10 days after.
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