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 paid a $3MM signing bonus and just a $1MM salary. The mutual option is valued at $15MM and comes with a substantial buyout that represents the remainder of the guarantee. That’ll 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 $7.3MM.
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.
More to come.
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