The San Diego Padres and All-Star third baseman Manny Machado are reportedly finalizing an 11-year, $350 million contract extension, sources with knowledge of the deal confirmed to ESPN's Jeff Passan on Sunday (February 26).
"BREAKING: Star third baseman Manny Machado and the San Diego Padres are finalizing an 11-year, $350 million contract extension, sources familiar with the deal tell ESPN. Machado helped turn around the franchise. He'll stay as the ascendant Padres seek their first championship," Passan tweeted.
Machado initially signed a 10-year, $300 million deal to join the Padres as a free agent in 2019, but publicly announced his intention to opt out of the final five years and $150 million on his current contract after the 2023 MLB season when previous extension negotiations with the Padres broke down. The two sides had previously set a February 16 deadline to reach a new deal, however, conversations between Machado's agent, Dan Lozano of MVP Sports and Padres general manager A.J. Preller reportedly reignited recently, with an official announcement expected to take place soon, according to Passan.
The addition of Machado has led to the Padres making two postseason berths in the past four years, which included a National League Championship Series appearance in 2022. The 30-year-old is coming off one of the best seasons of his career, hitting for a .298 average with 32 home runs and 102 RBIs and finishing second in the NL Most Valuable Player award voting.