San Diego Padres’ Juan Soto, right, celebrates with Ha-Seong Kim (7) and Austin Nola after hitting a three-run home run during the sixth inning of a baseball game against the Cincinnati Reds Saturday, July 1, 2023, in Cincinnati. (AP Photo/Jeff Dean)
All signs currently point to the San Diego Padres trading Juan Soto this season — the Yankees and Mets are seen as two of the favorites to land the star outfielder.
The 25-year-old is under team control for one more season where he’s projected to earn $33 million in 2024, per MLBTradeRumors‘ projections and while he’s still one of the best young hitters in baseball, slashing .275/.410/.519 (.930 OPS) with 35 home runs and 109 RBI last season, the Padres simply can’t afford him.
Banking on postseason revenue that never came due to a disappointing product on the field, the Padres were forced to take out an approximate $50 million loan in September to cover short-term expenses that included player payroll, as first reported by The Athletic.
Because they’re not in compliance with Major League Baseball’s regulations regarding their debt-to-service ratio, they’re also expecting to cut their payroll by 20% this winter.
Even with Blake Snell and Josh Hader’s pricey deals set to come off the books as they’ll likely depart in free agency, that’s not easy to do. The Padres have big money already invested in a core of stars. Manny Machado (11 years, $350 million), Fernando Tatis Jr. (14-year, $338.2 million), and Xander Bogaerts (11-year, $280 million) will combine to make over $53 million in 2024. A pair of starting pitchers in Joe Musgrove and Yu Darvish combine to earn another $36 million, too.
That’s five of just nine players who currently have guaranteed contracts, per FanGraphs. San Diego has another six players, including Soto, headed for arbitration. That’s a lot of holes in a roster to address while trying to keep the payroll around $200 million next year.
ESPN insider Buster Olney…
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