The Padres announced Friday that they’ve avoided arbitration with right-hander Michael King, coming to terms on a one-year deal with a mutual option for the 2026 season. Kevin Acee of the San Diego Union-Tribune reports that King will be guaranteed $7.75MM, taking the form of a $3MM signing bonus, just a $1MM salary, and a $3.75MM buyout on a $15MM mutual option. King can boost his guarantee to $8MM, as the contract includes a $50K bonus for reaching 20 starts and bonuses of $100K for reaching 25 and 28 starts. The structure of the deal will perhaps free up a bit of 2025 budget for a payroll-crunched Padres club. King and his reps at Excel Sports Management had filed for an $8.8MM salary. The Padres countered at $7.325MM.
While the arrangement nominally extends the window of control over King, mutual options are at best a technicality; they’re almost never picked up by both sides. The player either outperforms the option value and declines in favor of a trip to free agency, or he underperforms and/or sustains an injury that prompts the team to decline and move on. It’s been more than 10 years since two parties agreed to exercise their end of a mutual option (Matt Belisle, Rockies in Nov. 2013).
Still, by including a mutual option on the contract, the Padres technically stick to the near-leaguewide file-and-trial mantra, wherein teams cut off negotiation on one-year deals once salary figures are exchanged. King’s deal is, of course, a one-year contract — but the presence of the option renders it moot for future arbitration negotiations. Even though there’s virtually no chance of the option being exercised, its mere presence means that King’s agreement cannot be used as a comp (for the Padres or for other clubs) when negotiating contracts with players who are comparable in terms of statistics or service time.
King, 29 (30 in May), was acquired from the Yankees as one of five players in last season’s Juan Soto blockbuster with the Yankees. He’d been primarily a reliever prior to his inclusion in that swap, though a terrific nine-start stretch late in the 2023 season had thrust him into the Yankees’ rotation plans. Instead, he had his first full season as a starter in San Diego rather than the Bronx, and the results were outstanding. In a career-high 173 2/3 frames, King turned in a 2.95 ERA with a 27.7% strikeout rate, an 8.7% walk rate and a 40.4% ground-ball rate. He now sports a 2.91 ERA in his past 392 2/3 innings, spanning the 2021-24 seasons.
As a free agent following the season, King’s name has floated around the rumor circuit for a Padres club that has had payroll questions all offseason. San Diego hopes to contend in 2025, so the only way they’d move King (or rotationmate and fellow pending free agent Dylan Cease) would be if the return included an immediate rotation replacement and additional big league-ready talent. Teams in search of rotation help will continue to inquire, as it seems inevitable that the Padres will eventually make some kind trade to free up payroll space and simultaneously plug some roster holes.
This post was originally published on this site be sure to check out more of their content.
