The $350 million deal will keep Machado in a San Diego Padres uniform until he is 41 years old.
SAN DIEGO — It looks like San Diego will be seeing a lot more of Many Machado in a Padres uniform. Machado had announced earlier this month that he was planning to exercise the opt-out clause included in his current contract at the end of the season.
On Sunday, sources told MLB.com that Manny and the Padres had agreed to an 11-year extension worth $350 million. The new deal will begin this year keeping Machado as a San Diego Padre through the 2033 season.
His existing agreement, which he signed in 2019 had 6 years and $180 million still remaining. That agreement included the opt-out clause that he could exercise after this season.
After this agreement is made official, Machado will join a short list of large contract extensions signed recently by other MLB players including fellow Padres Fernando Tatis Jr., Mookie Betts with the Dodgers and Mike Trout with the Angels. The $350 million contract will put Machado’s deal in the top 3
During his tenure with the Padres, Machado has put up some solid numbers and accolades, batting .280, hitting more than 100 home runs and finishing in the top three in MVP voting two times.
Machado signed a 10-year, $300 million deal with the Padres in February 2019. The third baseman, who will turn 31 in July, would forfeit $150 million from his current deal, which calls for a $30 million annual salary through 2028.
According to the AP earlier this month, Machado’s contract was a record for a free agent when he agreed to it and the second-largest in the major leagues behind Giancarlo Stanton’s $325 million at that time.
WATCH: Padres’ Machado says he plans to opt out after this season: