PEORIA, Ariz. — The San Diego Padres might be slipping in the eyes of oddsmakers, but as spring training opens at the Peoria Sports Complex, they loom as one of baseball’s most intriguing clubs. Maybe the most volatile, too.
The franchise could be sold in the not-too-distant future, with a first round of bids expected near the end of this month. A.J. Preller remains a general manager in the final year of his contract, with as much incentive as ever to win now. After a quiet winter of transactions, the Padres continue to pursue starting pitching and another bat, with recent free-agent dalliances hinting they could still attempt a significant move. Craig Stammen serves as a reminder of Preller’s aggressiveness, with the new manager boasting plenty of organizational experience and no professional coaching credentials.
Come October, will these Padres make franchise history by appearing in a third consecutive postseason? Or will they fall short ahead of a widely expected lockout, further muddying both their short- and long-term future? So much could occur between then and now. In the meantime, here are three of San Diego’s most pressing questions.
When could a potential sale be completed?
The Padres appear to be moving closer, at least. Court documents recently revealed that Sheel Seidler, the widow of late owner Peter Seidler, and two of her brothers-in-law had resolved a fight over control of the franchise. The Athletic reported last week that initial bids for the team are due in late February. Three billionaires have been identified as potential bidders, and other suitors could surface in the near future. It seems possible that an agreement to purchase the club could be in place by April.
Still, completing a sale might take a while. It was two years ago that a group led by David Rubenstein agreed to buy the Baltimore Orioles. And it was not until August 2024 that Rubenstein completed his purchase. Near the start of this six-month process, the Orioles traded for ace Corbin Burnes and his then-$15.6 million salary. On their way to 91 wins, they otherwise limited their spending before the sale became official.
Is San Diego operating with significant constraints of its own? That’s certainly the norm when a team is on the market. The Padres committed $17 million this year when they re-signed Michael King, and they expect a resolution before Opening Day involving the contract of fellow starter Yu Darvish. But the projected payroll is already near where it ended last year, the Padres would ideally maintain some flexibility for the trade deadline, and a tight budget likely thwarted the exploration of a potential blockbuster.
According to club sources, and as first reported by the New York Post, San Diego expressed interest in Framber Valdez before the left-hander landed a three-year, $115 million deal with the Detroit Tigers. Though the Padres might not have been able to offer an average annual value close to $38 million, there were discussions about concepts involving a longer contract. The talks, however, never became particularly advanced.
Padres general manager A.J. Preller, right, said he expected “something to get done” regarding a contract extension. New manager Craig Stammen is at left. (K.C. Alfred / The San Diego Union-Tribune via Getty Images)
Is Preller still expecting a contract extension?
When the Padres’ 2025 season ended, people throughout the organization believed it was only a matter of time before Preller received an extension. Four months have since passed. Now, with a change in ownership possibly on the horizon, some officials would be less than surprised if Preller and club chairman John Seidler don’t end up striking a deal.
On Jan. 31, Preller did say he expected “something to get done,” suggesting he was partly at fault because he had not made contract talks a top priority.
He also said this: “I’m pretty realistic when it comes to making deals and what it looks like. I think win-win deals are when everybody’s fair and they’re honest and realistic.” That was days before the Padres’ sale process appeared to gain momentum amid reports of multiple wealthy suitors.
Is Seidler now inclined to leave a decision on Preller’s future to the next owner? On the surface, at least, that might be a logical business move.
As for Preller, people familiar with his thinking have consistently said he does not lack confidence in his ability — or his value. Over the past two seasons, the general manager has done perhaps his finest work while operating under significant constraints. Some in the industry believe that if he were to become a free agent, he would have plenty of suitors.
Absent an extension, the fact the Padres even entertained the idea of Valdez seems like more proof of Preller’s win-now focus. Because Valdez declined a qualifying offer from the Houston Astros, and because San Diego paid the luxury tax in 2025, the Padres and their 30th-ranked farm system would have had to forfeit their second- and fifth-highest draft picks, as well as $1 million in international bonus pool money, to sign the lefty.
Will the Padres find more spring bargains?
In February 2024, the Padres re-signed outfielder Jurickson Profar with a $1 million contract. A year later, they signed first baseman and designated hitter Gavin Sheets to a minor-league deal, days before they successfully waited out the starting-pitching market and signed Nick Pivetta to a backloaded, $55 million pact. Without this trio, San Diego might not have made the playoffs each of the past two seasons.
As another spring dawns, the Padres must find at least one or two more bargains. Their need for starting pitching remains obvious, even as more than a few veterans remain unsigned; the list includes Chris Bassitt, Zac Gallen, Lucas Giolito, Zack Littell and Justin Verlander.
Although they intend to spend more of their budget on rotation depth, the Padres also would like to add another option at first base and/or designated hitter. League sources indicated San Diego was the runner-up for Paul Goldschmidt, who returned to the New York Yankees with a one-year, $4 million deal. Available free agents include Ty France, Rhys Hoskins and Nathaniel Lowe. Meanwhile, Philadelphia Phillies outfielder Nick Castellanos, who has worked out at first base this offseason, could soon be traded in a salary dump — or released, if the Phillies do not find a taker.