- 2010: $15M
- 2011: $16M
- 2012: $17M
- 2013: $22M club option ($4M buyout)
The Padres are likely to cut their payroll -- which was about $74 million at the outset of the 2008 season -- to something in the range of $50 million for next year. The $9 million option of Brian Giles will probably be declined, with the Padres fielding an outfield of Jody Gerut, Venable and Chase Headley.
UPDATE (10/1/08, 12:35pm): Here's the juice from Buster's blog:
Jake Peavy, Padres: He won the 2007 Cy Young Award and posted a solid 10-11 record with a 2.85 ERA, with 166 strikeouts in 173 2/3 innings this season. He is under contract for the next four seasons, at salaries of $8 million, $15 million, $16 million and $17 million (with a $22 million option for 2013). But he has become increasingly vocal in his frustration with the Padres, and with the team reducing its payroll to something in the neighborhood of $50 million this year, Peavy's salary will increasingly become top-heavy within the San Diego budget. General manager Kevin Towers has been quoted as saying that the Padres have no untouchable players, and there are executives who say they think Peavy could be taken for the right package of prospects. Peavy has a full no-trade clause and would have to agree to any deal.
Now, I think if the Yanks (or anyone, really) come and make a strong offer to Towers, plus agree to guarantee the option year for Peavy to waive his NTC, it can be done.
It makes zero fiscal sense to tie up that much of your available resources in one asset. If the team will stink with him, it can stink without him. But it could be better positioned to recover quicker if Peavy's dealt for a bevy of MLB-ready players.