Michael King Declines Padres Option and Enters Free Agency

Michael King became a free agent Friday after declining his $28 million player option with the Padres and taking a $5 million buyout, The Associated Press reported. The decision sends the right-hander back to the market for a second consecutive offseason.

King, 31, had returned to San Diego on a three-year, $75 million contract signed last December. The agreement gave him opportunities to leave after the 2026 and 2027 seasons. It included a $12 million signing bonus, a $5 million salary for 2026, the 2027 option and a $30 million player option for 2028. The 2028 option did not include another buyout.

The buyout matters when comparing the money involved. King’s remaining option salaries totaled $58 million. Because opting out brings a $5 million payment, the additional money he could have earned by staying was $53 million. Those figures describe his existing agreement, rather than the value of an offer from another club.

His 2026 pitching record gives potential employers a full season to evaluate. King went 12–10 with a 3.21 ERA over 32 starts and 185 innings. He struck out 159 batters, walked 70 and finished with a 1.18 WHIP. All 32 of his regular-season appearances were starts.

That workload increased considerably from 2025, when he made 15 starts and pitched 73⅓ innings. In his first Padres season in 2024, he worked 173⅔ innings with a 2.95 ERA and 201 strikeouts. The three seasons show both the production and the different workloads in his San Diego tenure.

King rejected a qualifying offer last offseason. Under MLB’s qualifying-offer rules, a player cannot receive a second one during his career. That removes the usual qualifying-offer draft-pick compensation issue from his next contract.

Declining the option opens his free-agent process; it does not establish his next team or a new contract’s terms.