Padres' Manny Machado Will Opt Out of $300M Contract After Season to Test Free Agency

After seeing all 30 teams combine to spend nearly $4 billion on free agents this offseason, San Diego Padres star Manny Machado is looking to cash in with another big contract after the 2023 season.

Speaking to reporters at spring training on Friday, Machado confirmed he will use the opt-out clause in his deal after this season to become a free agent:

"Obviously, the team knows where I stand, my situation with the opt-out coming. I think I've expressed that I will be opting out after this year, but I think my focus is not about 2024. I think my focus is about 2023, what I can do to this ballclub, what I've done for this organization and what we're going to continue to do here. I think we've got something special here growing and I don't think anything's going to change."

This almost certainly isn't a surprise to the Padres. Jon Heyman of the New York Post and MLB Network reported in December that San Diego is anticipating Machado opting out.

Machado originally signed a 10-year, $300 million deal with the Padres in February 2019. The deal included an opt out after the fifth year. He would be leaving $150 million on the table if he goes through with it, but it's hard envision a scenario in he doesn't get significantly more than that on a new contract.

The six-time All-Star is six weeks younger than Aaron Judge, who just signed a nine-year, $360 million contract with the New York Yankees. Xander Bogaerts, who is three months younger than Machado, signed with the Padres for $287 million over 11 years.

Machado has two top-three finishes in NL MVP voting in the past three seasons. He ranks seventh in MLB with 46.6 FanGraphs' wins above replacement since making his big-league debut in 2012.

It will be interesting to see if the Padres attempt to re-sign Machado. Heyman noted that any rumors the New York Yankees tried to inquire about Fernando Tatis Jr. in a trade was "total BS."

Tatis has played shortstop for most of his career, but he's going to play outfield upon returning from his suspension for a positive PED test on April 20. Bogaerts has been a shortstop throughout his career, but he's almost certainly going to move off the position at some point during his contract because of his age.

Even if Bogaerts stays at shortstop for the next few years, he could end up at third base when his range starts to diminish.

But the Padres have already shown they won't hesitate to spend money if it improves their team. They are one of only three teams projected to be over the $233 million luxury-tax payroll in 2023, along with the New York Mets and New York Yankees.

Machado has a .280/.352/.504 slash line with 108 homers and 340 RBI in 519 games over four seasons with the Padres.