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San Diego Padres And Manny Machado Reach $350M Contract Extension: Sources
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San Diego Padres third baseman Manny Machado is finalizing an 11-year, $350 million contract extension, according to sources familiar with the deal.
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Machado had set a deadline of Feb. 16 to reach a new deal but conversations continued between his agent and the Padres' general manager.
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The deal is expected to be official soon, and it includes a full no-trade clause and no opt-outs.
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Machado's arrival in San Diego in 2019 on a 10-year, $300 million deal signaled a new era for the Padres.
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The franchise cornerstone is coming off arguably the best season of his career, hitting .298/.366/.531 with 32 home runs and 102 RBIs.
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Machado's extension is the fourth-largest guarantee in the game's history, behind those for Aaron Judge, Mike Trout, and Mookie Betts.
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In four seasons with the Padres, Machado has hit 108 home runs and driven in 340 runs while hitting .280/.352/.504 and winning a pair of Gold Gloves at third base.
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The Padres currently carry the third-highest competitive balance tax payroll in Major League Baseball at more than $266 million.
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San Diego hopes to catch the Los Angeles Dodgers for NL West supremacy this year after beating them in the division series in 2022.
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Machado's desire to remain in San Diego amid its championship push helped drive the sides toward a deal.
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The deal takes Machado well past two decades in the big leagues.
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The Padres have built a World Series contender around Manny Machado.
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The team has yet to win a World Series in its 54-year history.
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Machado's extension is expected to be one of the most lucrative in the history of North American sports.
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The signing of Xander Bogaerts to an 11-year, $280 million contract and the impending free agency of Juan Soto in 2024 are among the financial challenges facing the Padres.