Jackson Merrill’s Extension
With today’s 5-2 win over the Cleveland Guardians to wrap up the first homestand of the season and a 7-0 record, the big news of the day was the Padres and Jackson Merrill announcing agreement on a 9 year $135 million extension.
There have been murmurs recently about how the Padres started discussion on an extension prior to Jackson’s rookie year (similar to what the Brewers did with Jackson Chourio) and have tried again since then.
But even though Jackson said he was looking for a fair deal, I wasn’t expecting a deal to happen this quickly. Mainly because the Padres may have missed the boat with the great year that Jackson had (when he should have been the NL Rookie of the Year) and I wouldn’t be surprised if any player after that type of rookie season would want to bet on themselves to get a larger payday when they could hit free agency after 6 full years.
Not to mention all that’s going on with the Padres ownership and questions about the team’s long-term finances (along with the many big contracts already on the books) so the chances of a Jackson Chourio team-friendly deal seemed unlikely or was going to be really expensive.
Figured they might talk again after this season, with money coming off the books (like Eric Hosmer’s last $13 million this season) and currently being over the second CBT threshold.
So it was a pleasant surprise waking up this morning and getting texts from family and friends about the news breaking of the 9-year, $135 million deal that starts next season. Even with the escalators and options to go possibly up to 10 years and $204 million, it’s still a great deal to be able to lock him up long term.
You’re getting 5 of his free agency years from 2030-2034 (if he didn’t sign an extension, he would become a free agent after the 2029 season) which would be his prime free agency years. Most teams signing players to 10-15 year contracts are basing it on getting most of the production in the first 5-7 years and then you’re just living with a large contract towards the end of the player’s career, like Albert Pujols or Justin Upton with the Angels.
So in this case, not only are you getting what you expect is great production from Jackson during the prime free agency years but also at a good deal at $15-$20.4 million per year when you think about where contracts are currently and how much you you’ll be paying in 5 years. I mean look at some of the deals other guys were getting recently. Cody Bellinger got a three-year, $80 million deal prior to 2024 and Tommy Edman got a five-year, $74 million this past offseason so you can see the salaries for veteran players who play centerfield get pretty high.
Of course, with any big contracts, even with younger players, there’s the risk that the player may not live up to it. I remember the Padres trying to do something on a much smaller scale with Nick Hundley, Corey Luebke and Cameron Maybin back in 2012 so they could buy out their arbitration years at much lower salaries if they became stars as they showed potential to. Of course, none of them became big stars so it wasn’t the bargain the team hoped for. But to me, the risk is worth it because as the baseball economies go up, even if he doesn’t pan out (which I would shocked at just seeing how he played in his rookie year), it’s not that large of a contract especially as MLB salaries keep going up (which now top on average $5 million for a season).
So all in all, really happy Jackson Merrill and the Padres were able to come to an agreement on this extension and excited that he’ll be a core part of this team until at least 2034.
