The San Diego Padres made a splash with major free agent signings the past few winters, but the Friars — hit with a nearly $40 million luxury tax for their massive 2023 payroll — have been much more frugal this off season.
The Padres flopped last year and failed to make the playoffs despite having the third-highest payroll in the majors, $258 million on opening day.
With spring training just around the corner, here’s a round-up of moves the Padres have recently made.
Closer role results in pay bump for Matsui
Yuki Matsui can earn $33.6 million over five seasons with the Padres if the Japanese reliever becomes the team’s closer, and the pitcher could opt out of the deal after three years and $14.5 million if his pitching elbow remains healthy.
Matsui’s original agreement, announced Dec. 23, is a $28 million, five-year deal that includes salaries of $3.25 million this year, $5.5 million in 2025, $5.75 million in 2026, $6.5 million in 2027 and $7 million in 2028, according to contract terms obtained by The Associated Press.
He will get $5.6 million more if he becomes the closer, according to The Associated Press.
Josh Hader, last season’s closer, was paid $14.1 million and left the Padres for free agency.
Matsui, a 5-foot-8 left-hander, would have the right to opt out after the 2026 season if he has not had Tommy John surgery or has not had an elbow injury that caused more than 130 consecutive days on the injured list spanning 2024 and ’25.
If he does have Tommy John surgery or has an elbow injury causing more than 130 consecutive days on the injured list spanning ’24 and ’25, San Diego has a conditional $7 million option for 2028. If the conditions for the team option aren’t met, Matsui has a $7 million player option for 2028.
He cannot be assigned to the minor leagues without his consent. He also gets an interpreter, a hotel suite on road trips and annual roundtrip tickets to Japan. He will become a free agent when the contract ends.
Professional debut at age 18
Matsui made his Japanese big league debut at age 18 and became a five-time All-Star for the Tohoku Rakuten Golden Eagles, leading the Pacific League in saves in 2019, 2022 and 2023.
Matsui, who turned 28 in October, had a career-best 39 saves with a 1.57 ERA and 2-3 record this season, striking out 72 and walking 13 in 57 1/3 innings.
He has a 2.40 career ERA, 236 saves and a 1.11 WHIP in Nippon Professional Baseball.
Matsui became the youngest pitcher in the Japanese major leagues to reach 200 saves.
Woo-Suk Go gets $4.5 million, 2-year deal
South Korean reliever Woo-Suk Go and the San Diego Padres agreed on Jan. 3 to a $4.5 million, two-year contract that includes a 2026 mutual option plus bonus and escalator provisions that could make the deal worth $9.4 million over three seasons if he closes regularly.
The right-hander was 3-8 with a 3.68 ERA and 15 saves in 44 appearances last year for the Korean Baseball Organization champion LG Twins.
Go and new Padres teammate Ha-Seong Kim were both on South Korea’s World Baseball Classic roster last year, but Go did not make an appearance.
Go was 19-26 with a 3.18 ERA and 139 saves in seven seasons with LG. He led the KBO with 42 saves in 2022.
He’ll receive salaries of $1.75 million in 2024 and $2.25 million in 2025, and the deal includes a $3 million mutual option for 2026 with a $500,000 buyout.
Spring training to determine closer
Preller said the team will determine during spring training whether Go or Matsui will replace Hader as the closer.
“We’re not going into this with any kind of roles yet,” Preller said. “We’re getting as much talent and guys who have different looks as we can. When we get to spring training we’ll see how they adjust and throw the ball and understand how they will benefit the team.”
Go would earn a $100,000 bonus for pitching in 70 games this year and could earn up to $400,000 for pitching appearances in 2025 and 2026: $100,000 each for 40, 45, 50 and 55.
His salaries in 2025 and ‘26 could escalate by up to $500,000 based on games finished in each previous season: $125,000 each for 15, 25, 35 and 45. Escalators earned this year would apply to 2025 and to 2026.
As part of the deal, Go can’t be assigned to the minor leagues during the 2025 season without his consent, and he will become a free agent when the contract ends.
He gets two roundtrip airline tickets between South Korea and the U.S. each year.
Padres luxury tax bill nearly $40 million
The New York Mets must pay a record luxury tax of nearly $101 million after a fourth-place finish in their division, among an unprecedented eight teams that owe the penalty for the 2023 season.
Owner Steve Cohen’s Mets finished with a tax payroll of $374.7 million, according to figures finalized by Major League Baseball on Thursday and obtained by The Associated Press. That topped the previous high of $291.1 million by the 2015 Los Angeles Dodgers.
The Mets’ tax bill came to $100,781,932 after they finished fourth in the NL East at 75-87 in the most expensive flop in baseball history. That more than doubled the prior high of $43.6 million by the 2015 Dodgers.
Other teams owing tax money are San Diego ($39.7 million), the New York Yankees ($32.4 million), the Dodgers ($19.4 million), Philadelphia ($6.98 million), Toronto ($5.5 million), Atlanta ($3.2 million) and World Series champion Texas ($1.8 million). The Blue Jays, Braves and Rangers are paying tax for the first time.
Padres won’t have traditional bench coach
New Padres manager Mike Shildt won’t have a traditional bench coach on his staff but will utilize the input of several coaches during games.
The Padres unveiled the full staff in early January, including new hitting coach Victor Rodriguez, who spent the previous six seasons as assistant hitting coach for the Cleveland Guardians. Pitching coach Ruben Niebla returns for his third season.
Newcomer Ryan Barba has the title of major league field coordinator and will perform many of the functions of a traditional bench coach, Shildt said. Brian Esposito will have the title of catching coach and game strategy assistant.
Shildt was hired Nov. 21.
He replaced Bob Melvin, who was hired away by his hometown San Francisco Giants on Oct. 25 with a year left on his contract with the Padres, ending a fractured two-year relationship with Preller.
Shildt, a former manager of the St. Louis Cardinals, has six former minor league managers on his staff. The cost-cutting Padres, who dealt All-Star slugger Juan Soto to the New York Yankees last month, are expected to bring up some of their top prospects this season.
One of those former minor league managers, San Diego native Mike McCoy, will serve as one of two assistant hitting coaches.
McCoy has been in the organization for the last eight years, including as manager of Single-A Lake Elsinore in 2021. A former Padres farmhand, he played parts of four big league seasons with Colorado (2009) and Toronto (2010-12).
McCoy attended Grossmont High in suburban El Cajon, the same school that produced Padres right-hander Joe Musgrove, and then played at the University of San Diego.
