Padres Sign Michael King to One-Year Deal With Option for 2026

The San Diego Padres have agreed to a one-year deal with starting pitcher Michael King with a mutual option for 2026, the team announced Friday.

King's deal includes a $3 million signing bonus and a $1 million salary, plus a $15 million mutual option for 2026 with a buyout, per Kevin Acee of The San Diego Union-Tribune. Furthermore, the revised contract includes significant contract incentives that could increase King’s salary in 2025 to $8 million.

King's new contract reportedly helps the Padres with cash flow.

We have reached an agreement with RHP Michael King on a one-year contract for the 2025 season with a mutual option for 2026.
— San Diego Padres (@Padres) January 31, 2025

The Padres avoid arbitration with King, but still have the option to trade him. He has recently emerged as a trade candidate for San Diego, but it always seemed more likely the Padres would trade right-hander Dylan Cease instead.

King, 29, was the key piece in the Juan Soto trade in December 2023. Following his first season as a full-time starter with the Padres, he finished seventh in National League Cy Young voting.

King produced a 2.95 ERA with 201 strikeouts across 173.2 innings. King made two postseason starts for the Padres, sporting a 3.75 ERA over 12 innings. His 30 starts were 11 more than he had made in his first five MLB seasons combined.

The Padres have several needs to address this winter, including the rotation, but there may be more pressing needs at left field and catcher. Nevertheless, it's good news the Padres were able to avoid arbitration with King.

The two parties were unable to reach agreement on a contract before the Jan. 9 deadline. The Padres offered number of $7.325 million while King asked for $8.8 million.

The new agreement with King reportedly gives the Padres more payroll flexibility this season to avoid trading him, per MLB insider Bob Nightengale.

The unique deal pays King $1 million with a $3 million signing bonus and a $15 million mutual option with a large buyout, per @sdutKevinAcee, giving the Padres payroll flexibility in 2025 to avoid trading him. He’s eligible for free agency after the season. https://t.co/4JRR135AgV
— Bob Nightengale (@BNightengale) January 31, 2025

The latest update signifies Dylan Cease is the most likely candidate to leave San Diego this offseason, if the Padres choose to trade a piece from their starting rotation.