Padres superstar Manny Machado today confirmed to reporters, including Chelsea Janes of The Washington Post, that he plans on opting out of the remainder of his contract following the 2023 season. Machado signed his current 10-year, $300M agreement with San Diego ahead of the 2019 season, and in opting out would leave five years, $150M left on the table from his current contract.
This decision is no real surprise, as that $150M figure appears to be one Machado should have no trouble beating on the open market next offseason, provided he remains healthy. After an offseason that saw top free agent Aaron Judge sign a $360M deal that begins in his age 31 season, it seems like a reasonable bet that Machado, who would also be entering free agency ahead of his age 31 season, might become the first ever player to sign multiple $300M contracts in his career, though he obviously would not be playing through the entirety of his first one.
Machado’s certainly performed at a level to this point in his career that would warrant such a contract. The runner-up for the NL MVP award in 2022, Machado has six All Star appearances, five top-5 MVP finishes, two Gold Gloves, and a Silver Slugger award under his belt. With a career 124 wRC+, strong defense at third base, and 46.4 fWAR already accrued in his career, Machado appears to be on a Hall of Fame trajectory, particularly considering the fact that his offensive game has taken a step up in recent seasons. Since the start of the 2018 season, Machado’s wRC+ is 133, and it jumps to 139 when examining the 2020-2022 seasons.
As Stephanie Apstein of Sports Illustrated notes, Machado is looking to sign for double-digit years, a mark Judge barely missed with his nine-year pact this offseason but shortstops Trea Turner and Xander Bogaerts both managed to eclipse. This appears to be a reasonable ask, particularly given that Machado seems likely to be the consensus top free agent in the 2023-24 free agent class after two-way unicorn Shohei Ohtani. A 10-year deal for Machado would take him through his age-40 campaign, an age teams seem to be increasingly willing to sign players through this offseason than in years past.
The Padres, themselves, are at the forefront of this movement toward signing players to longer deals. They signed both Bogaerts and Yu Darvish to deals that will take them beyond their 40th birthdays this offseason, and made similar offers to both Turner and Judge as well. Despite Machado’s plans to opt-out following the 2023 campaign, there appears to be interest in an extension, with the Padres reportedly set to pursue a new deal with Machado this spring, it’s possible that San Diego’s comfort in signing players through their age-40 seasons would give them a leg up in negotiations.
On the other hand, the Padres are in a somewhat difficult payroll situation. They’re a lock to pay into the luxury tax in 2023, already have two long-term megadeals on the books in Bogaerts and Fernando Tatis Jr., and on top of all that, Juan Soto’s free agency is looming following the 2024 season. It seems to be a reasonable question as to whether or not they can maintain their current payroll levels at all, much less add to them as they would need to in order to retain Machado and Soto.
