The San Diego Padres are aiming to reduce their payroll below $200 million for the 2024 season, in an effort to reset their luxury tax penalty level after incurring nearly $40 million in 2023. This decision comes as the team faces financial constraints due to the loss of their local TV deal. The team's winter of austerity is reflective of a broader trend in MLB, with several teams cutting back on spending in the current offseason. The Padres' approach contrasts with the significant free agent spending by other teams, such as the Dodgers, Phillies, and Diamondbacks.
Free agent spending this winter, by team: Dodgers: $717M Phillies: $172M Diamondbacks: $122M Giants: $113M Royals: $105M Cardinals: $99M Reds: $87M Tigers: $42.75M Braves: $30M Rangers: $26.5M Mets: $18M White Sox: $16.75M Orioles: $13M Astros: $12M Brewers: $10.25M Angels:…
This offseason is by no means as slow as the Harper/Machado offseason, and it won't be nearly as brutal when it's all said and done, IMO, but it is December 17th and the tenth-biggest FA contract belongs to Nick Martinez
Add the San Diego Padres to the list of MLB teams slashing payroll after losing their local TV deal, per @dennistlin: https://t.co/EyTzSNJBFv
The Padres, who racked up a luxury tax bill of close to $40 million in 2023, would prefer to reset their penalty level next season. While things can change, that could mean a payroll comfortably below $200 million: https://t.co/mibcZwXsgP
Padres "Prefer" To Stay Under Luxury Tax In 2024, Could Reduce Payroll Below $200MM https://t.co/pAGZeIPh9Q https://t.co/8u09JZcRlB
$200 million has been widely reported as the Padres target for payroll — though @dennistlin hears it may actually dip below that number. On the San Diego’s winter of austerity: https://t.co/I9XZ0oQYBX