San Diego Padres President of Baseball Operations and General Manager A.J. Preller has revealed that the club has signed reliever to a major league deal. At first glance, it looks like a routine move aimed at reinforcing a bullpen that’s already one of the team’s biggest assets. But given the Padres’ broader situation, the signing might hint at something deeper.
For two straight offseasons, San Diego’s financial picture has been a major talking point. The organization avoids discussing hard salary limits or internal caps, yet it’s fair to assume they want to stay away from steep luxury-tax penalties. With payroll projections hovering around the $194 to $201 million range according to an October report from Cheri Bell of Gaslamp Ball, the Padres don’t appear eager to push their spending far beyond that level.
That creates a complicated offseason for Preller. The Padres still lack a defined first baseman, they are losing or missing three starting pitchers, and the bench remains incomplete. Filling those holes can get expensive fast, especially when a pitcher like former Padre Dylan Cease just signed a $210 million deal with the Blue Jays. The reality is that Preller will likely need to rely on a mix of free agency and, more importantly, trades to cover these needs. The challenge is that the farm system has thinned out after two extremely aggressive trade deadlines, leaving fewer pieces to move and no prospects forcing their way onto a big-league roster.
All of this brings the focus back to the Ty Adcock signing. The Padres already project to have one of the strongest bullpens in baseball heading into 2026. Mason Miller and Adrian Morejon have been floated as possible rotation candidates, though nothing concrete is known about the team’s or the players’ willingness to make that transition. Jason Adam is working his way back from a ruptured quadriceps tendon that knocked out his 2025 season. Jeremiah Estrada brings elite velocity but fought home run issues and struggled against the Dodgers. Wandy Peralta was steady, Yuki Matsui had an inconsistent season, David Morgan impressed at times, and Bradgley Rodriguez showed the kind of raw power that could make him a future closer. Add in arms like Kyle Hart, Jhony Brito, Bryan Hoeing, Alek Jacob, and Ron Marinaccio, and several possibilities come into focus.
Signing Adcock may simply be an effort to double down on a strength, following the old baseball belief that a team can never have too much pitching. It could also signal that Miller, Morejon, or both are being lined up for rotation roles to help patch the depleted starting staff. Or it might hint that Preller is preparing to trade from a position of depth, using surplus bullpen talent to acquire players in other areas without committing major money in free agency.
Whatever direction Preller ultimately chooses, next week’s MLB Winter Meetings should offer the first real clues about how the Padres intend to navigate this offseason and what the franchise’s priorities will look like moving forward.