The San Diego Padres have re-signed pitcher Michael King to a three year deal with a pair of opt outs that could net King up to $75 million.
King was…I hesitate to say “the” prize of the Juan Soto trade
for the Padres, but he was at least a prize, a big one. He had a terrific 2024 season that saw him appear on Cy Young ballots, but then was not healthy and not as productive in 2025, putting up a 3.44 ERA and 4.42 FIP in 73 innings over 15 starts.
King was tendered the qualifying offer but rejected it. Given his lack of track record as a starter — 2024 was his first full season in the majors where he primarily was in the rotation — and his checkered 2025, he seemed like someone who could accept the QO. Once he rejected it, he seemed destined for a relatively short-term deal where he could re-enter the market once he showed he was healthy and good.
Reports indicate that the deal is structured in kind of an odd way, with King getting a $12 million signing bonus paid out over three years and a $5 million base salary in 2026. King can opt out after 2026 and get a $5 million buyout, which would bring his total compensation for one year to $22 million — just $50,000 less than he would have received if he had accepted the qualifying offer.
If he does not opt out, King will receive a $28 million salary for 2027, and he can again opt out of his deal — though I’ve seen differing reports, it appears that there is no buyout if he opts out after 2027. Should he not opt out, he would be under contract for $30 million for the 2028 season.
This makes sense for King, who, if he pitches well next, can hit the free agent waters after 2026 with no draft pick compensation attached and likely a stronger market for him. If he doesn’t, well, he’s got either $23 million for one year or $53 million for two years locked up, on top of the $22 million guaranteed to him even if he opted out after 2026.
