Manny Machado, Padres finalize $350M, 11-year contract

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This article was published 28/02/2023 (982 days ago), so information in it may no longer be current.

PEORIA, Ariz. (AP) — Having signed All-Star slugger Manny Machado for more than another decade, San Diego Padres chairman Peter Seidler was clear about his goal.

“We’re here to win a championship and we came reasonably close last year. We believe we have every chance this year,” Seidler said. “Non-conflicted people are saying, hey, the Padres got a shot. … One year soon, the baseball gods will shine on the San Diego Padres and we will have a parade.”

San Diego, which has never won a World Series title, finalized a $350 million, 11-year contract with Machado on Tuesday, the fourth-largest deal in baseball history.

Machado gets a $45 million signing bonus, of which $10 million is payable this Dec. 1 and $5 million on each Dec. 1 from 2027 through 2033.

He receives salaries of $13 million in each of the next three seasons, $21 million in 2026 and $35 million annually from 2027-33.

Machado gets a full no-trade provision, a hotel suite on road trips and the right to purchase a luxury suite and four premium tickets to all home games. He agreed to make a charitable contribution of 1% of his salary each season.

Machado, who has helped turn the Padres into a World Series contender, finished second in the NL MVP race last year as San Diego reached the NL Championship Series before losing to Philadelphia. He figures to anchor a star-laden lineup that includes Xander Bogaerts, Juan Soto and Fernando Tatis Jr., who is on track to return April 20 from an 80-game suspension for a positive test for a performance-enhancing drug.

The Padres project to have the third-highest payroll in the majors this season at $255 million, trailing only the New York Mets and Yankees. San Diego’s luxury tax payroll projects to $285 million.

“For the fans of San Diego, I think we’re going to be here for the long haul,” Machado said. “My family and I are going to do a lot of great things for this organization. We’re going to go above and beyond for it and hopefully bring a championship to the city that’s been craving it and wants it.”

Machado and Bogaerts are under contract through 2033 and Tatis through 2034.

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Machado batted .298 with 32 home runs and 102 RBIs last year and is entering his 12th big league season. The six-time All-Star has a .282 career batting average with an .833 OPS, 283 homers and 853 RBIs.

His deal’s total trails contracts for Mike Trout ($426.5 million for 12 years), Mookie Betts ($365 million for 12 years) and Aaron Judge ($360 million for nine years). However, Machado’s $31.8 million average per season ranks just 14th among active players.

Machado, 30, had said that after this season he planned to opt out of the $300 million, 10-year deal he signed as a free agent in 2019. With the $120 million he already has received, the new contract increases the Padres’ commitment to Machado to $470 million over 15 years.

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AP MLB: https://apnews.com/hub/MLB and https://twitter.com/AP_Sports