The Padres' 2026 Payroll Is Now At Last Season's Level; Here's How They Can Spend A Bit More

[Greg Spicer]

A few weeks ago, Padres fans were celebrating the team’s announcement that they weren’t planning to shed salary for the 2026 season. Instead, San Diego intends to operate with a payroll similar to last year’s. That opened the door to all sorts of exciting hypotheticals about what the Padres could do with their remaining money.

Since then, San Diego has made two free-agent moves that put the 2026 payroll at $219 million - just $2 million less than the 2025 figure: re-signing star pitcher Michael King (3 years / $75 million) and adding Japanese talent Sung-Mon Song (4 years / $15 million).

Based on the idea of maintaining a similar payroll, it looks like general manager AJ Preller has about $2 million left to spend. The roster still needs at least one more lefty starter and some offensive reinforcements.

If the Padres want to fill every hole, ownership will probably have to go over last year’s number - especially if they plan to pursue a big-name southpaw free agent like Ranger Suárez or Framber Valdez.

That said, Preller still has options. There are affordable players available that could fill at least one gap with the remaining $2 million. San Diego can also use the trade market to reallocate bad contracts and farm system assets to add talent without increasing payroll. The prospect depth is as thin as ever, but it doesn’t look like Preller is starting a rebuild, so we can assume he’ll operate the same way he always has: without regard for the farm’s strength.

I’m not saying I support that strategy, but it’s the realistic outlook. As long as Preller is trying to compete, the farm system will be used to improve the MLB roster.

Budget-Friendly Fillers

Assuming the front office doesn’t shell out the cash needed for Valdez or Suárez, their best bet is finding a cheap lefty starter in free agency and using trade assets to retool the lineup. They also have JP Sears under contract, so they could test their luck with Sears plus another arm and see if one of them clicks. This role could be filled by several available pitchers, but these would be my top options.

Martin Pérez

The former Padre pitched very well during his half-season in San Diego in 2024, so a return would make sense. He was an All-Star in 2022 and posted a 3.54 ERA / 4.90 FIP in 56 innings with the White Sox last season.

Patrick Corbin

It’s been a rough stretch for Corbin since his championship run in Washington, but he still brings experience, health, and innings - all things the Padres lack. He’s also due for a year where the BABIP luck falls his way. He’s thrown 150+ innings every season since the 2020 Covid year and showed signs of life with a 4.40 ERA / 4.25 FIP in 2025. 

If the Padres decide to spend more on pitching than those two options, Preller may instead look for cheap offensive help. If that’s the route, here are a few possibilities.

Justin Turner

This will be unpopular, given Turner’s rough year with the Cubs and his status as a former Dodger. Still, he’ll be cheap and fits the lineup if money is tight. He posted a 112 wRC+ against lefties in 2025 and could platoon effectively with Gavin Sheets.

Ty France

I know these names aren’t mouthwatering, but they offer cost-effective upside. The 2022 All-Star should still have some production left. He hasn’t posted a wRC+ over 100 in the past two seasons, but when he’s right, he mashes lefties. He’d be another solid bench bat to pair with Sheets.

Trade Opportunities

Some players on the Padres’ roster simply aren’t playing up to their contracts. If the team genuinely wants to compete, they’ll need to use assets to move off these deals and redirect that money toward upgrades.

They should avoid trading budget-friendly talent like Jackson Merrill and Mason Miller. Superstars Manny Machado and Fernando Tatis Jr. also project as strong values on sub-$30 million contracts, so I wouldn’t move them either.

Xander Bogaerts

This deal just hasn’t worked. Bogaerts will be making $25 million annually through 2032, and if Preller can find a way to move him, he should take it. A team like the Yankees could be tempted, given how terrible Anthony Volpe has been. Cover some of the money and include a top-five prospect to get bullpen depth in return. Finding a suitor would be difficult, but this is the clearest path to opening up payroll space.

Yu Darvish

Another complicated situation. Darvish won’t pitch in 2026 and isn’t particularly appealing to other teams, but perhaps a buyout could be structured to free up some money. He’s making $16 million this year and won’t even have a chance to bounce back. Getting Darvish off the books would require a sacrifice from ownership, but it would create so much more flexibility.

Yuki Matsui

Despite being one of the weaker arms in the bullpen, Matsui is one of the highest-paid relievers on the staff. His $6 million contract will only become more expensive over time, and it’s hard to project his future production. It’s not a franchise-altering move like shedding Bogaerts or Darvish, but the Padres could likely find a team willing to take on his full contract and get something in return. That freed-up money could help fill another hole or open additional trade avenues.

The Bottom Line

The best part of San Diego’s complicated financial situation is that they don’t have any truly outrageous contracts (outside of Bogaerts). Machado and Tatis should both earn their salaries, and none of the starters are tied to disastrous deals. Instead, the payroll is spread across the roster. 

There isn’t a clear path to financial freedom in San Diego, but one thing is certain: Preller has options.

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[Stuart Shaffer]

Only Mr. Preller and his staff know how much is still available for players' salaries.  However, later in the winter, if Nestor Cortes can pass a physical, I'm guessing Preller will try to sign him.  Before Cortes's arm fell off last season, he showed he could beat the Dodgers.  That's worth some money. 

[Brock Beauchamp]

17 hours ago, Stuart Shaffer said:

Only Mr. Preller and his staff know how much is still available for players' salaries.  However, later in the winter, if Nestor Cortes can pass a physical, I'm guessing Preller will try to sign him.  Before Cortes's arm fell off last season, he showed he could beat the Dodgers.  That's worth some money. 

If Cortes is healthy, he's a very effective starting pitcher.