Before the 2019 MLB season, the San Diego Padres signed third baseman Manny Machado to a 10-year, $300 million contract.
The pact, however, had an opt-out clause after the fifth season.
That fifth season would be 2023, which means he could be a free agent after the World Series this year.
On Friday, during a chat with the media in spring training, he offered some details about his plans for the future regarding the opt-out.
He will be using it.
“Manny Machado confirmed Friday that he intends to opt out of his contract with the Padres following the 2023 season,” FOX Sports MLB tweeted.
Manny Machado announced that he will be opting out of the remainder of his contract after the 2023 season pic.twitter.com/fH7rEZg3YW
— FOX Sports: MLB (@MLBONFOX) February 17, 2023
After the 2023 campaign ends, Machado would be under contract through 2028 earning $30 million annually.
Seeing how players that are worse than him got $300 million or a bit less, he is in a perfect position to cash in and turn that five-year, $150 million deal into a more lucrative seven or eight-year deal.
In fact, it’s logical that he would use the opt-out and explore the open market.
Machado, who had 32 home runs, a .898 OPS, and elite defense at third base, saw how the Padres gave Xander Bogaerts $280 million a few weeks ago.
He could top that, and he has every chance of finding out.
The Padres want to extend him, but with this development, they would need to offer a huge deal.
In any case, they are seen as the early favorites to land him on another long-term contract.
More teams will be in the mix when he reaches the open market, though.NEXT: Michael Wacha Reveals Why He Signed With The Padres