Michael King’s agreement with the San Diego Padres quickly stood out as one of the most creative pitching contracts of the offseason. MLB insider Mark Feinsand detailed the structure, which explains why several interested teams, including the New York Mets and the Boston Red Sox, ultimately backed away despite strong initial interest.
Feinsand reported that King’s contract is a three-year, $75 million deal that includes multiple opt-out paths, giving the RHP significant control over his future. “King’s deal is for three years and $75M, per source. Includes a $12M signing bonus, then salaries of $5M in 2026, $28M player option in 2027 ($5M buyout), and a $30M player option in 2028 (no buyout). So it will either be worth $22M for one year, $45M for two or $75M for three.”
That structure, however, is exactly what raised red flags for the Mets. MLB writer Michael Marino explained that the issue was never the average annual value, but the risk attached to signing a qualifying offer player. “On Michael King and Mets: lots of risk signing a QO player who could opt out after 1 year,” Marino wrote on X.
Why the deal became nearly impossible for Boston
Boston’s concerns went even deeper. According to Tyler Milliken of 98.5 The Sports Hub, the Red Sox would have been forced into aggressive financial gymnastics just to fit King’s deal while still pursuing additional offense. The qualifying offer penalty only compounded the problem, effectively boxing the team into a corner before the season even began.
“The Red Sox were going to have to do some serious financial maneuvering to make him fit, along with 2 more bats, if they were going to be focused on staying under the 2nd Luxury Tax Threshold (stupid). That’s before the QO cost and announcing to the world you desperately need to trade some pitching. Never felt like a likely outcome.”
From the Padres’ perspective, the gamble made sense. King was limited to 15 starts in 2025 due to two separate injured-list stints but still posted a 3.44 ERA with 76 strikeouts and a 5-3 record, showing frontline upside when healthy.