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Nick Martinez
#11 · May 7, 2022, 7:50 pm
Quote from MrPadre19 on May 7, 2022, 7:19 pmSo how does the $1.5 mil buyout work?
Does that mean if he declines the option we give him $1.5 mil as a parting gift or does it mean if he takes the option…and we don’t want him….we can pay him $1.5 mil to go away?
Good question. If it is the latter and Martinez takes the option but the Padres in turn buy it out for $1.5MM … isn’t that the same as a “mutual option” with a buyout?
The idea of Martinez declining the player option and the Padres paying him an additional $1.5MM is hard to believe as the structure. That would not be a “buyout” since he already has declined the option.
Doubt that if Martinez declines the option HE pays the Padres $1.5MM … that would break new ground … but then again this is a weird contract structure.
I will go with the first option … but ???????
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MrPadre19
#12 · May 8, 2022, 4:33 am
It’s a weird one….I need answers!
#13 · May 8, 2022, 9:55 am
https://www.spotrac.com/mlb/san-diego-padres/nick-martinez-15682/
I don't claim to understand any of this but it does look like the Pads are on the hook for $6.5m the next 3 years UNLESS he invokes his opt out, in which case the TEAM would pay him $1.5m for him to leave.
So basically, if he sucks, he'll stick around for a further 3 years and collect $19.5m, whereas if he's good, he tells the Pads to give him $1.5m and bolts.
Sounds like a REALLY bad contract from the Padres side.
#14 · May 8, 2022, 11:51 am
Taking the positive side of this odd wording … the Padres should hope he pitches well enough to decline the player option. That would suggest he out pitched the $6MM contract in 2022 (and even if the $1.5MM is added … doubt it) and the Padres got a bargain contract for one year.
I think the “buyout” kicks in if Martinez does exercise the player option for $6.5MM and the Padres don’t want him back … so pay him $1.5MM to go away. Basically making the cost of 2022 $7.5MM.
Sort of an escape route for Martinez if he is really good (decline the player option) and an escape route for the Padres if he is really bad (buyout after he exercises the player option). However, if the is in the middle … they have a deal in place for $6.5MM in 2023 and go through this again after next season.
Almost as though neither side wanted to commit to a longer term deal and an agree upon dollars given Martinez’ age and only with success in Japan.
#15 · May 8, 2022, 2:08 pm
If he exercises the option and the team doesn't want him they can buy him out for 1.5m rather than pay him 6.5m. I don't understand the confusion.
#16 · May 8, 2022, 2:31 pm
But if it's a players option, it doesn't matter whether or not the team wants him, does it? Should Martinez decide to opt out, according to his contract, he walks and gets his $1.5m.
By definition, a player option gives the player ALL the control. Great deal for Martinez.
#17 · May 8, 2022, 3:24 pm
Quote from Jeremy Hill on May 8, 2022, 2:08 pmIf he exercises the option and the team doesn't want him they can buy him out for 1.5m rather than pay him 6.5m. I don't understand the confusion.
See now you understand the confusion😉
#18 · May 8, 2022, 3:28 pm
If he decides not to execute his option he becomes a free agent. He gets nothing from the Padres in that case. If he decides to execute his option it gives him a 6.5m salary from the team for the year. The Padres can then decide to retain him for that 6.5m salary or buy him out for 1.5m and make him a free agent.
#19 · May 8, 2022, 3:31 pm
Might be overthinking the wording … the player option is to stay of $6.5MM but once he exercises it the club can buy him out for $1.5MM (or keep him for the $6.5MM).
If he declines to exercise the player option he is a FA and Padres pay him nothing.
At least that is the most logical scenario.
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Going to be an interesting decision first by Martinez depending on how well he pitches and since the same scenario plays out every year of his deal.
If he pitches really well and his agent believes he can at least beat out a $7.5MM level for 2023 (or get a guaranteed multi-year deal) … he declines the option.
If he pitches really poorly he will of course exercise the option … but the Padres will buy him out and “save” $5MM in 2023.
If he pitches somewhere in-between really well and really poorly … a much tougher call for him and the agent guessing his FA market. Same then for the Padres if at the same time Musgrove, Clevinger, Manaea are FA.
Let’s just hope he pitches lights out and worry about his contract later.
#20 · May 8, 2022, 3:37 pm
It's the only scenario.