As it turns out, the San Diego Padres had more money to spend on starting pitching than many expected.
Mired in an ownership power struggle and having tightened the budget in each of the last two offseasons, the Padres seemed to have little shot at retaining the services of starting pitcher Michael King, who was arguably the best of the second-tier free agent starters this offseason.
Just as rumors were swirling that King was about to leave the Padres, though, he came right back.
On Thursday, MLB.com’s Mark Feinsand reported that the Padres and King were in agreement on a three-year, $75 million deal, which includes player options for 2027 and 2028. It’s a classic “pillow contract,” and it’s structured in a way that saves the Padres significant money on the luxury tax payroll, much like Nick Pivetta’s deal last winter.
According to Feinsand, King will receive a $12 million signing bonus, a $5 million salary next year, then $28 million in 2027 and $30 million in 2028 if he exercises his player options. The first of those player options has a buyout for $5 million. Feinsand also reported that King has already completed his physical, meaning the deal is final.
A report last weekend from Peter Abraham of the Boston Globe portrayed King’s market as an American League East power struggle between the Baltimore Orioles, Boston Red Sox, and New York Yankees. But the report also hinted that King was looking to make his decision soon, and that was spot-on.
Incidentally, Pivetta, who was already being rumored as a trade candidate this winter, certainly saw his odds of pitching for a new team increase on Thursday night. He was paid $4 million this year, and his salary jumps to $19 million in the new year.
For now, the Padres have a crucial piece of the rotation puzzle back in place. But there will almost certainly be lots more dominoes to fall as the offseason progresses.
More MLB: Blue Jays Acquire 24-Year-Old as Potential Alejandro Kirk Backup
