Michael King is staying put after all.
The Padres re-signed their 30-year-old free agent to a three-year deal, the Union-Tribune confirmed Thursday night. King will make $75 million if he plays out the entirety of a contract that includes a $12 million signing bonus on top of a $5 million salary for 2026.
Additionally, he’ll get a $5 million buyout against a $28 million player option for 2027 and a $30 million player option without a buyout for 2028.
In other words, King will make $22 million for one year, $45 million for two years or $75 million for three years.
MLB.com first reported the agreement, the Padres’ first significant move of a hot-stove season that began with both Dylan Cease and King headlining the Padres’ departing free agents.
Cease quickly signed a seven-year, $210 million deal with the Blue Jays. Because he declined a qualifying offer from the Padres, the Padres received a draft pick after the fourth round.
King also declined a qualifying offer.
The biggest piece coming to San Diego in the Juan Soto trade to the Yankees, King made the full-time move to the rotation upon joining the Padres in 2024, going 13-9 with a 2.96 ERA and striking out 201 batters over 173⅔ innings.
He went on to win the first postseason start of his career, striking out 12 over seven shutout innings in Game 1 of the NL Wild Card Series against the Braves.
He was poised to lead the rotation in 2025, but a nerve issue that surfaced after sleeping awkwardly on his shoulder derailed his second season in San Diego.
King went on the injured list in mid-May, tweaked his knee after one start in August and missed another month before making four starts in September.
They were not great starts (5.74 ERA), prompting the Padres to give Yu Darvish the Game 3 start in the NL Wild Card Series against the Cubs. Instead, King struck out three over a scoreless inning relief after an abbreviated start from Darvish.
All told, King’s workload dropped by more than 100 innings from 2024 to 2025, which may be a reason he agreed to another creative contract that could give him another bite at free agency as soon as next season.
Before the season, King agreed to a $7.75 million deal to avoid arbitration. That deal paid him a $3 million signing bonus on top of a $1 million salary and included a $3.75 million buyout against a $15 million mutual option.
The $22 million King will make in 2026 just about matches the qualifying offer ($22,025,000) that he declined last month.
His return plugs a big hole in the Nick Pivetta-led rotation as Cease has left to join the Blue Jays and Darvish’s elbow surgery will sideline him the entire season.
Staff writer Kevin Acee contributed to this report.