Padres' Top Free Agent Projected to Sign 4-Year, $118 Million Deal

He will cost a lot to remain in San Diego.

Jul 3, 2026; Los Angeles, California, USA; San Diego Padres pitcher Michael King (34) leaves the game in the seventh inning against the Los Angeles Dodgers at Dodger Stadium. Mandatory Credit: Jon Endow-Imagn Images | IMAGN IMAGES via Reuters Connect

The San Diego Padres received a bittersweet performance from right-hander Michael King this past season.

Normally, a 31-year-old star pitcher in a rotation that saw the fourth-fewest innings pitched in baseball having the best season of his career is a good thing. However, King played out the 2026 campaign on what could be an expiring contract.

His looming player option for the remaining two years, $58 million on his contract was anticipated not to be picked up, and the move became official earlier this week. After he declined the option and received a $5 million buyout, King has officially hit free agency.

The conversation now shifts to just how much it will cost to bring him back, and according to The Athletic's Jim Bowden, it won't be cheap.

Bowden, a former MLB general manager, purported a four-year, $118 million deal ($29.5 million AAV) for King. Though this can be feasible for a team's ace, there is a lot of money tied up in an inefficient way moving forward as San Diego may have to finally deal with some of the skeletons in their financial closet.

The Padres have about $108 million per year allocated to the talents of just five players through at least the 2030 season.

Jake Cronenworth is on the books through 2030 ($12.3 million AAV); Jackson Merrill is signed through 2035 with his cap hit to exceed $22.1 million AAV in 2030; Fernando Tatis Jr.'s $25.7 million AAV balloons to $36.7 million in 2029 (and lasts through 2034); while Xander Bogaerts ($25.5 million AAV) and Manny Machado ($39 million AAV) will be paid through 2033, their age-40 seasons.

Paying the nucleus of a contending team what they are owed will always be a wise choice. When age starts to creep up and a championship-window starts to define itself clearer, that is the time when more difficult financial decisions must be made.

The case for King, however, is that if he can strike a deal with the budget-conscious Padres, perhaps a "hometown discount" can be reached with the East Coast pitcher who recently spoke on how San Diego has become home for him and his family.

"This is where we started a family," King said. "We started our foundation here. San Diego's been incredible for me, and it's all the way across the country from home. But now I feel like I have a second home on the West Coast, so it's been awesome. And yeah, I hope to continue."

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