Winners and Losers From the Padres’ 2026 Arbitration Agreements

Padres general manager A.J. Preller has done it again. Since becoming GM in 2016, Preller has never failed to agree on a contract with a player before arbitration hearings.

This offseason’s class posed a more difficult challenge than usual, with the team’s three best relievers - Adrian Morejon, Mason Miller, and Jason Adam - all eligible for new deals, along with platoon bats Gavin Sheets and Freddy Fermin.

With all five players serving as key contributors to the Padres’ 2025 playoff appearance, seeing any of them leave would have been a tough pill to swallow. Fans can rest assured that this group will remain in San Diego for 2026.

With the respective amounts made public, we can take a look at who the winners and losers of the negotiations are.

Winners

The Padres Bullpen

This is an obvious one. After losing two-time All-Star closer Robert Suarez on a three-year, $45 million contract to the Braves, it was imperative that Preller retain his other three star relievers.

A full season of Miller (0.77 ERA / 1.12 FIP / 23.1 IP) and a healthy Adam (1.93 ERA / 3.07 FIP / 65.1 IP) should compensate for the loss of Suarez.

Jason Adam

Sticking with the bullpen for now, Adam certainly got the friendliest deal of the reliever trio. In 2026, he’ll make $6.675 million compared to Miller’s $4 million and Morejon’s $3.9 million. Although he’s been nothing short of unhittable in a Padres uniform, Adam does have some question marks that make his player-friendly salary a surprise.

He suffered a ruptured left quadriceps tendon in September that will likely keep him out at the beginning of 2026, and his advanced analytics raise some concerns. As shown by his ERA and FIP, the production is elite, but his 3.98 xFIP and mediocre velocity (54th percentile fastball velocity), paired with poor walk rates (28th percentile), could lead to regression.

Nonetheless, Adam is a key part of the Padres roster, and giving him a generous arbitration deal heavily outweighs any alternatives - whether that be a hearing or losing him in free agency.

Freddy Fermin

He may have the lowest dollar figure of the group, but Fermin has to feel good entering 2026. After spending the last two seasons as Salvador Perez’s backup in Kansas City, he has a chance to enter spring training as the lead catcher in San Diego.

Spending a full season in a playoff-contending lineup with superstars such as Manny Machado and Fernando Tatis Jr. should put him in a position for offensive success. Since the July trade deadline, Fermin has gone from a backup catcher making less than $1 million on a struggling Royals team to a starting catcher making $2 million on a contender.

Losers

Adrian Morejon

Perhaps “loser” is a little harsh for a guy who’s going to get paid nearly $4 million to play baseball in San Diego, but it’s hard to see why he was the lowest earner of the three pitchers.

He was objectively the best performer of the group in 2026, leading in FanGraphs WAR (2.2) and innings pitched (73.2). He also posted a 2.08 ERA / 2.28 FIP and earned an All-Star Game selection.

To cement his 2025 dominance, he pitched in all three games with 4.1 scoreless innings against the Cubs in the playoffs.

Gavin Sheets

Amount-wise, I see no issue with the Sheets deal. $4.5 million is solid for a respectable platoon bat who played full-time in 2026. However, from Sheets’ perspective, he would’ve loved to come away with an extension this offseason.

Props to him for betting on himself, but he posted a career-high number of at-bats along with a career-high BABIP (.281). He has a negative run value on defense and doesn’t draw many walks, so if the bat regresses in 2026, he’ll be in a tricky spot next offseason.

The Rest of the N.L. West

Call me arrogant, but I don’t see another team in this division with the bullpen firepower of the Padres. Including the new Edwin Díaz-led Dodgers. Los Angeles will pay Díaz $17 million in 2026, which is $2.45 million more than San Diego will pay Miller, Morejon, and Adam combined.

Outside of L.A., there isn’t much relief prowess in the division. The Giants are always a threat but lack proven arms, the Diamondbacks appear to be entering some sort of retool, and the Rockies have a long way to go before they can start worrying about relievers.

It may not be an offseason headlined by superstars, but it looks like the Padres bullpen will remain among the league’s best in 2026.