One of the last two remaining qualified free agents is now off the board, leaving only Alex Bregman.
Starting pitcher Nick Pivetta, whom many thought should have taken his Qualifying Offer from the Red Sox, is signing with the Padres.
That sentence should surprise you greatly, given that the Padres, yes, have a need for starting pitching but also reportedly have no money. How are they doing this? Well, as you might expect:
BREAKING: Right-hander Nick Pivetta and the San Diego Padres are in agreement on a four-year, $55 million contract that includes a pair of opt-outs, pending physical, sources tell ESPN.
— Jeff Passan (@JeffPassan) February 13, 2025Nick Pivetta’s deal with the Padres has opt-outs after Year 2 and Year 3. The deal will pay him a $3 million signing bonus and $1 million salary in 2025, $19 million in 2026, $14 million in 2027 and $18 million in 2028.
— Jeff Passan (@JeffPassan) February 13, 2025The Padres will pay Pivetta almost nothing in 2025, figure out how to weather 2026 financially, and then might hope desperately that he then opts out of the final two years and $32 million remaining on the deal.
If you can set aside the financial shenanigans for a moment, this isn’t a bad deal for them – four years and $55 million for a guy many believe still has the potential to be a front-half starter is a good get. His deal was held down a bit by his age (32 later this week) and the Qualifying Offer, but it’s just not a bad price tag overall for the Padres.
Now I guess we wait to see if this means they still try to move a starting pitcher out (Dylan Cease and Michael King were the rumors), to offset some of the cash and to pick up other pieces in return? Do they already have a deal lined up? Or were they happy to see rumors out there about how much they didn’t have available to spend so that they could get a guy like Pivetta on a deal like this?
As for Pivetta, he was probably having to choose between a deal like this, or a one-year offer for something less than the Qualifying Offer number. A tough pill to swallow. This deal gets him the security of $55 million if something goes terribly wrong, but it doesn’t let him hit the market again for two years instead of one. Arguably still should’ve taken that $21-million Qualifying Offer back in November.
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