It's Official: Padres announce Machado’s $300 million, 10-year d - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

It's Official: Padres announce Machado’s $300 million, 10-year deal

Posted: Updated:

SAN DIEGO (AP) — The San Diego Padres have announced their $300 million, 10-year deal with All-Star infielder Manny Machado, more than two days after the deal was agreed to.

Machado will be introduced Friday at spring training in Peoria, Arizona.

The agreement, the largest for a free agent in big league history, includes an opt-out clause after the 2023 season and $150 million.

Machado gets a $20 million signing bonus, payable within 30 days of the deal’s approval by the commissioner’s office, $10 million this season and $30 million in each of the remaining seasons. Machado is a Florida resident, and the signing bonus will not be subject to income tax in California, which has a top rate of 12.3 percent.

Machado has can pick six teams annually he can’t be traded to without his consent. He gets a hotel suite on road trips and has the right to purchase premium tickets at Petco Park.

His deal is the second-largest second in baseball history behind the $325 million, 13-year contract outfielder Giancarlo Stanton agreed to with Miami before the 2015 season.

To make room for Machado on the 40-man roster, the Padres transferred right-hander Dinelson Lamet to the 60-day injured list.

“Manny Machado is a generational talent, and we’re ecstatic that he’s chosen to spend his prime years in a San Diego Padres uniform,” Padres executive chairman Ron Fowler and general partner Peter Seidler said in a joint statement. “This momentous agreement speaks volumes to the direction of our organization, as well as our commitment to bringing a World Series championship to the Friar Faithful and the City of San Diego.”

  • SportsMore>>

  • CBS 8 Bracket Buster Contest

    CBS 8 Bracket Buster Contest

    Welcome to CBS 8 Bracket Buster Contest! Make your bracket picks before the start of the tournament and play along!

     

    Welcome to CBS 8 Bracket Buster Contest! Make your bracket picks before the start of the tournament and play along!

     
  • Williamson, Duke survive UCF's late misses, reach Sweet 16

    Williamson, Duke survive UCF's late misses, reach Sweet 16

    Sunday, March 24 2019 8:01 PM EDT2019-03-25 00:01:24 GMT
    Monday, March 25 2019 3:12 AM EDT2019-03-25 07:12:30 GMT
    (AP Photo/Sean Rayford). Duke forward Zion Williamson (1) dribbles the ball against Central Florida during the first half of a second-round game in the NCAA men's college basketball tournament Sunday, March 24, 2019, in Columbia, S.C.(AP Photo/Sean Rayford). Duke forward Zion Williamson (1) dribbles the ball against Central Florida during the first half of a second-round game in the NCAA men's college basketball tournament Sunday, March 24, 2019, in Columbia, S.C.
    (AP Photo/Sean Rayford). Duke forward Zion Williamson (1) dribbles the ball against Central Florida during the first half of a second-round game in the NCAA men's college basketball tournament Sunday, March 24, 2019, in Columbia, S.C.(AP Photo/Sean Rayford). Duke forward Zion Williamson (1) dribbles the ball against Central Florida during the first half of a second-round game in the NCAA men's college basketball tournament Sunday, March 24, 2019, in Columbia, S.C.
    Zion Williamson and RJ Barrett rallied Duke from three points down with 45 seconds left as the top-seeded Blue Devils defeated ninth-seeded UCF 77-76 to reach the Sweet 16 on Sunday. 
    Zion Williamson and RJ Barrett rallied Duke from three points down with 45 seconds left as the top-seeded Blue Devils defeated ninth-seeded UCF 77-76 to reach the Sweet 16 on Sunday. 
  • Tennessee blows 25-point lead, beats Iowa 83-77 in OT

    Tennessee blows 25-point lead, beats Iowa 83-77 in OT

    Sunday, March 24 2019 3:01 PM EDT2019-03-24 19:01:28 GMT
    Monday, March 25 2019 3:12 AM EDT2019-03-25 07:12:50 GMT
    (AP Photo/John Minchillo). Tennessee's Grant Williams, left, and Iowa's Connor McCaffery battle for the ball in the first half during a second-round men's college basketball game in the NCAA Tournament in Columbus, Ohio, Sunday, March 24, 2019.(AP Photo/John Minchillo). Tennessee's Grant Williams, left, and Iowa's Connor McCaffery battle for the ball in the first half during a second-round men's college basketball game in the NCAA Tournament in Columbus, Ohio, Sunday, March 24, 2019.
    (AP Photo/John Minchillo). Tennessee's Grant Williams, left, and Iowa's Connor McCaffery battle for the ball in the first half during a second-round men's college basketball game in the NCAA Tournament in Columbus, Ohio, Sunday, March 24, 2019.(AP Photo/John Minchillo). Tennessee's Grant Williams, left, and Iowa's Connor McCaffery battle for the ball in the first half during a second-round men's college basketball game in the NCAA Tournament in Columbus, Ohio, Sunday, March 24, 2019.
    Tennessee avoided one of the biggest meltdowns in NCAA Tournament history, letting a 25-point lead slip away before two-time SEC player of the year Grant Williams scored six points in overtime for an 83-77 victory... 
    Tennessee avoided one of the biggest meltdowns in NCAA Tournament history, letting a 25-point lead slip away before two-time SEC player of the year Grant Williams scored six points in overtime for an 83-77 victory over Iowa. 
Powered by Frankly
All content © Copyright 2000 - 2019 KFMB-TV. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.