Breaking News: San Diego Padres Agree to Deal with Manny Machado; 10 Years/$300M
The biggest news of the offseason has dropped, with Manny Machado and the San Diego Padres having agreed to a deal. It was first reported by Jeff Passan of ESPN, here.
After first reports of the deal were announced, many other reporters jumped onto the news breaking, with Tim Brown of Yahoo Sports adding in that Machado will have an opt-out after his 5th Year, and Mark Feinsand of MLB.com setting the details of the deal to be 10 Years at $300 Million.
As Mark Feinsand added in his tweet about the details of this deal, Machado has now signed the BIGGEST (in terms of money) Free Agent Contract in American Sports history.
Moments after the whole of baseball fans started to go crazy, Padres Executive Chairman Ron Fowler said that discussions were still being had with Machado (as reported by Dennis Lin of The Athletic), but Ken Rosenthal of Fox Sports is saying that this report is likely semantics because Machado has yet to pass his physical or agree to total language; yet they have agreed to the financials.
(All tweets can be found in article.)
Breaking News Tweets; First News on Contract Specifics:
BREAKING: Free agent star Manny Machado has agreed to a deal with the San Diego Padres, league sources tell ESPN. — Jeff Passan (@JeffPassan) February 19, 2019
Opt out in Machado deal is after the fifth year. — Tim Brown (@TBrownYahoo) February 19, 2019
BREAKING: Manny Machado has agreed to terms on a deal with the Padres. According to a league source, it’s for 10 years and $300 million – the biggest free-agent contract in the history of American sports. — Mark Feinsand (@Feinsand) February 19, 2019
San Diego Padres and Chicago White Sox Executives on the Specifics of the Deal:
Padres executive chairman Ron Fowler: “We do not have a deal. We are continuing discussions.” — Dennis Lin (@dennistlin) February 19, 2019
Following up, Williams said if $300 million report is accurate, that White Sox could not go to that level https://t.co/nQQpXH0NEq — James Fegan (@JRFegan) February 19, 2019
This likely is semantics. Machado has not passed a physical and the two sides have not finalized language. But they are in agreement on financial terms. https://t.co/j4kcZZBRg1 — Ken Rosenthal (@Ken_Rosenthal) February 19, 2019
Source: #WhiteSox offer to Machado was 8/$250M (a higher AAV than he will receive from #Padres. Total value of deal – with incentives and vesting options – could have been “well north” of $300M. — Ken Rosenthal (@Ken_Rosenthal) February 19, 2019
(Just a quick note here, I tend to not truly believe any big baseball rumor until one of: Ken Rosenthal, Jeff Passan, Joel Sherman, or Mark Feinsand post it.)
On that note, I wouldn’t buy into the Padres Executive’s noise about the deal. Manny Machado will be a Padre.
Additionally, even though the White Sox were offering a contract with an AAV that was higher ($31.25M to $30M), and a contract that may have passed that of $300M over 8 Years ($37.5M AAV), Machado made the smarter move here with taking the extra $50 Million (!) guaranteed salary, even if that meant missing out on a possible higher cumulative pay-day in 2 fewer years.
From the Yankees Camp:
Yankees never made a formal offer to Manny Machado, per a source, although they hosted him at Yankee Stadium. Machado wanted to top Giancarlo Stanton’s 13-year/$325M deal, and although his reported amount is a free-agent record, Yankees didn’t want to offer something that large. — James Wagner (@ByJamesWagner) February 19, 2019
While the Yankees met with Machado in December, they hardly engaged with him after that. From the first internal conversations the Yankees had about the possibility of adding Machado, there were strong voices in the room advocating against it. — Jack Curry (@JackCurryYES) February 19, 2019
At this point, it comes as no surprise that James Wagner (New York Times) is reporting that the Yankees never offered Manny Machado a formal contract offer. They haven’t done so with other big Free Agent names this winter, most notably pitcher Patrick Corbin, and it’s sad that this isn’t a shock anymore.
As Mike Axisa of the notable RiverAveBlues an CBS Sports finalized his article back after Corbin signed, “Anytime the Yankees want to go back to acting like the Yankees is okay with me.” However, now with two of the biggest FA names gone this offseason, and Harper not being tied much at all anymore to the Yankees, it’s time to accept that won’t be happening any time soon.
However, I can’t actually be too upset with the Yankees not matching Machado’s desires and allowing him to walk. To me, it’s a similar situation to when Robinson Cano wanted more than the Yankees were willing to offer, and Cano started to fade into irrelevancy outside of New York. Machado will suffer a similar fate out in the much smaller San Diego market. (The real problem with the Cano deal was the way in which the Yankees handled losing him, by signing Jacoby Ellsbury to a deal that was too much and too long to be reasonable.)
Additionally, the Yankees have a very cheap, very good third-baseman for this season (and the next 4) in Miguel Andujar, who will not probably not come close to making $30M (which has never been accepted through arbitration) for any one of his years playing for the Yankees. As much as I want the Yankees to spend their insane surplus of money, I understand picking and choosing battles, and they have a solid (and cheap) 3B for their team. (Plus, Nolan Arenado could be available next year, and I’m dumb enough to hope they go out and get him, even if Andujar doesn’t flop this year.)
More Semantics about the Deal:
When adjusting for inflation, Manny Machado’s $300 million deal would not be close to the MLB free agent record. The $252 million A-Rod received in 2000 is worth $368 million in today’s dollars. — Darren Rovell (@darrenrovell) February 19, 2019
As Darren Rovell points out, the Alex Rodriguez contract from 2000 is still the highest (in terms of inflation) contract ever offered to and signed by a player, however it is technically correct that Machado has signed the highest dollar amount, at the time of the deal, free-agent signing in American sports history. Both points are technically correct.
Taking into considering inflation the Machado deal would be the 4th most expensive deal, being behind the aforementioned A-Rod 2000 contract, Giancarlo Stanton’s recent 2014 extension with the Marlins (13/$325M; with inflation: ~$345M), and the Yankees extension to A-Rod in 2008 (10 Years/$275M; with inflation: ~$321M).
It’s also behind Giancarlo Stanton in being the 2nd highest contract, at face value, ever offered to a player ($325M > $300M), but Machado’s contract does have the higher AAV (Average Annual Value), at $30M, as Stanton’s deal has an AAV of $25M. However, it does fall behind many other contracts (5 to be exact) with largest AAV in baseball, currently being topped by Zack Greinke’s 6/$206 ($34M AAV) with the Diamondbacks. (Here is a Wikipedia list of the Largest Contracts in American Sports.)