Blake Snell's Price Tag, Revealed: Padres Pitcher Reportedly Wants $60M in Free Agency

These two teams are waiting on the reigning Cy Young winner to lower his price.

When Blake Snell was rumored to be seeking $200 million in free agency, it was obvious why the San Diego Padres weren't interested in bringing back the reigning National League Cy Young award winner for 2024.

The Padres were widely reported to be lowering their player payroll. The trade of Juan Soto, while allowing free agents Josh Hader, Seth Lugo, Michael Wacha, and others to sign elsewhere, only affirmed that perception.

As the winter dragged on, however, and the Padres' need for starting pitchers persisted, it wasn't clear whether Snell had lowered his contract demands or he was still out of San Diego's price range.

The answers? Yes and maybe.

According to USA Today's Bob Nightengale, Snell is seeking a minimum guarantee of two years and $60 million. And his agent, Scott Boras, has two teams on the hook — though both clubs are waiting for the number to fall:

The Houston Astros, who exchanged contract proposals this week for two-time Cy Young winner Blake Snell, now appear to be long-shots to sign him. They have balked at Snell’s asking price of at least a two-year guarantee for $60 million, including an opt-out after the 2024 season.

The San Francisco Giants are now looming as the favorites for Snell, who have been engaged, but were also waiting for the price-tag to drop.

— via Bob Nightengale of USA Today

Snell, 31, went 14-9 with a 2.25 ERA in 32 starts (180 innings) for the Padres last season. Overall he's 29-25 with a 3.15 ERA in three years since the Padres acquired him from the Tampa Bay Rays. His 2023 performance was strong enough to collect 28 of 30 first-place votes in NL Cy Young balloting.

Yet a reunion has never seemed to be in the cards, and it remains to be seen if any other teams consider Snell within their price range.

Losing Snell to San Francisco would be a tough pill to swallow. Along with the Arizona Diamondbacks, the Giants are seen as a roadblock in the Padres' path to at least an NL Wild Card berth.

The pain of losing Snell to any American League team would not be nearly so acute. The Astros signed Hader earlier in the offseason, and are looking to reach the American League Championship Series for the eighth straight season.

But if the Padres don't see Snell again until the 2024 World Series, it would be the next-best outcome to re-signing him.