MLB free agency: Michael King returns to Padres on three-year, $75 million contract, per report

One of the offseason’s top free-agent starters is heading back to San Diego. Right-hander Michael King and the Parentshave agreed to a three-year contract worth $75 million, reports MLB.com. King can opt out after 2026 and 2027. The team has not yet announced the signing. Here’s the salary breakdown:

• 2026: $5M salary and $12 million signing bonus
• 2027: $28 million salary ($5 million buyout if opt out is used)
• 2028: $30 million salary (no buyout if opt out is used)

King, 30, spent the last two years with the Padres after coming over from the New York Yankees in the Juan Soto trade. In 2024, King struck out 201 batters and had a 2.95 ERA in 173 ⅔ innings, which earned him a seventh place finish in the Cy Young voting. Shoulder and knee injuries limited him to 73 ⅓ innings with a 3.44 ERA in 2025.

We ranked King as the 17th-best free agent available this offseasonand the sixth-best free-agent starting pitcher. Here’s the write-up:

The book on King hasn’t changed much over the years, even if his role has shifted this way and that a few times. He has a quality arsenal built on horizontal movement, and an undeniable track record of being a plus performer. Unfortunately, he’s a high injury risk who has topped 75 innings twice to date. There’s no harm rolling the dice, but one should be realistic about the expected outcome.

King is something of the ideal modern pitcher, one with an extreme east/west pitching attack (i.e. sinkers and sweepers) but also an analytics-friendly four-seam fastball. He also has plenty of experience as both a starter and reliever, including as a multi-inning setup man familiar with high-leverage situations. Come postseason time, King has the versatility to help his team in any capacity.

The Padres made King the $22.025 million qualifying offer last month, which he rejected. They will neither gain nor forfeit a draft pick to re-sign him. Being attached to draft pick compensation may have hurt King’s market, leading to him taking what amounts to a one-year contract with insurance policies for 2027 and 2028.