Right-hander Nick Martinez has agreed to a two-year, $26 million contract with the Cincinnati Reds, sources familiar with the matter revealed on Thursday. The deal includes an option to opt-out after the first season.
Martinez’s arrival in Cincinnati comes after he pitched 54 games out of the bullpen and made nine starts for the San Diego Padres, posting a 2.32 ERA in 42⅔ innings. After the Padres decided against activating their two-year, $32 million club option on Martinez, the right-hander decided to opt out of the final two years of his contract, foregoing a $16 million payday as a result. Prior to joining the Padres, Martines played four seasons for the Texas Rangers and spent another four seasons in Japan.
Upon successfully completing a medical with the Reds, Martinez will be eligible to receive $14 million in 2024, sources have claimed. He will reportedly receive $12 million during the following season should he decide to opt into his contract.