Padres' Manny Machado says he will opt out of contract; third baseman has five years, $150M left on deal

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San Diego Padres star third baseman Manny Machado revealed Friday that he intends to opt out of his contract once the 2023 season comes to an end.

Despite signing a 10-year deal worth $300 million with the Padres prior to the 2019 season, the 30-year-old said he has taken notice of other the big money contracts that have been given out across the MLB.

"There's a lot of money out there," Machado told reporters. "As a player about to opt out, it's pretty good to see."

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Manny Machado of the San Diego Padres looks on prior to game five of the National League Championship Series against the Philadelphia Phillies at Citizens Bank Park in Philadelphia on Oct. 23, 2022. (Tim Nwachukwu/Getty Images)

The terms of the agreement gives Machado the ability to opt out next winter, but doing so would void the five years and $150 million remaining on the deal.

Machado is coming off a stellar 2022 campaign in which he was the runner-up in National League MVP voting. 

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In his first four seasons in San Diego, he's batted .280/.352/.504 (136 OPS+) with 108 home runs. He also flashes with the glove and has continued to display strong defensive skills from his third base spot.

Last winter's free agency period saw a number of premiere players ink massive contracts, which makes Machado's decision to opt out somewhat unsurprising.

The San Diego Padres' Manny Machado hits a two-run home run during the first inning of a game against the Cincinnati Reds at Petco Park in San Diego on April 19, 2022. (AP