Manny is money.
The Padres have emerged as one of MLB’s biggest spenders, a trend that has continued as the 2023 season gets underway. On Feb. 26, the Padres inked Manny Machado to a massive contract extension, per ESPN’s Jeff Passan, locking him into San Diego for the next decade plus.
BREAKING: Star third baseman Manny Machado and the San Diego Padres are finalizing an 11-year, $350 million contract extension, sources familiar with the deal tell ESPN. Machado helped turn around the franchise. He’ll stay as the ascendant Padres seek their first championship.
— Jeff Passan (@JeffPassan) February 26, 2023
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Machado is something of the face of the Padres revolution. Originally signing a 10-year, $300 million contract in 2019, the third baseman recently made it clear that he was planning to opt out of that deal following the season in hopes of finding another lengthy contract.
As it turns out, he didn’t have to wait until after the season to get the money he was looking for.
Here’s what to know about Machado’s new deal:
Manny Machado contract details
On Feb. 26, Machado inked an 11-year, $350 million contract extension to stay with the Padres. On average annual value, that deal is worth roughly $31.8 million per season. Also of note is that the contract features no opt outs, and also has a full no-trade clause, per Jeff Passan.
That contract is the fourth-largest deal in MLB history, behind Mike Trout (12 years, $426 million), Mookie Betts (12 years, $365 million) and Aaron Judge (nine years, $360 million).
The deal will pay him through his age 40 season, essentially through the end of his career.
Machado, 30, was planning on opting out of his 10-year, $300 million contract following the 2023 season, as he was hoping to set himself up for another big-money deal.
The Machado signing is the latest in a string of massive-money pacts handed out by the Padres:
- In December, the Padres signed infielder Xander Bogaerts to an 11-year, $280 million deal;
- Starter Yu Darvish inked a six-year, $108 million deal in February;
- In 2021, ascending shortstop Fernando Tatis Jr. signed a 14-year, $340 million contract.
So, the Padres have locked up their core for the next decade, at least.