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The San Diego Padres have found themselves a quality reliever after signing Wandy Peralta, who became a free agent after his three-year stint with the New York Yankees.
The deal, according to the Associated Press citing an anonymous source, spans four years and is worth $16.5 million. It also includes an opt-out for three seasons.
The agreement is still pending as the 32-year-old pitcher still has to undergo a physical exam.
The latest deal is the biggest Peralta netted since arriving in the league in 2016 through the Cincinnati Reds.
However, the Wandy Peralta-Padres contract is rare because of the three opt-out options feature. This is the Padres' tactic of luring out free agents.
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The deal will depend on how Peralta performs each year with the club. If he performs well in his first year, he can return to the free agency and turn the contract into a one-year term. If he struggles, the deal will become a liability for the club.
Before that, he spent six years with the Reds as an amateur free agent.
He has $8.3 million in career earnings since 2009 according to Spotrac.
This deal is better than what he received as a reliever for the three clubs he played for.
How did he get here? His last season with the New York Yankees tells the story.
What can Peralta offer for the Padres?
The left-handed pitcher served as a steady reliever for the Yankees last season, although they did not reach the postseason. He was an integral pull from the bullpen in his three seasons there.
The 2023 season is the time when he made giant leaps. His walk rate went from 7.6 percent to 13.6 percent. He also plunked six batters; his career-high is even higher than his total in the last four seasons. His ERA is below 3.00.
The Yankees reportedly wanted to retain him but could not strike a deal.
He finished a career season with New York with a 2.83 ERA in 63 appearances in 2023. He had 51 strikeouts and 30 walks in 54 innings.
Padres' bullpen situation
The Padres, who underperformed in 2023 as a top-three payroll spender, lost Josh Hader in free agency after the star pitcher signed a massive deal with the Houston Astros.
They haven't found someone closer to replacing Hader, but with the arrival of Peralta, they now have a formidable bullpen.
He joins left-hander Yuki Matsui and Korean right-hander Woo-Suk Go, who were both signed in December.
Other pitchers on the roster are Tom Cosgrove, Steven Wilson, and Enyel De Los Santos, who are expected to serve as set-up options.
The Padres are careful with their spending as they already splashed out on contracts signed by Manny Machado, Matsui, Fernando Tatis Jr., and Jake Cronenworth.
The San Diego Padres finished 2023 with an 82-80 record to miss the playoffs. In 2022, they reached the National League Conference Series, where they bowed to the Philadelphia Phillies.
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