The Padres have declined their $14 million team option on veteran right-handed starter Nick Pivetta, and left-handed reliever Wandy Peralta exercised his $4.45 million player option to return for San Diego next season, a source told MLB.com’s AJ Cassavell. The club has not confirmed the moves.
Pivetta, who will be entering his age-34 campaign in 2027, made only eight starts for San Diego last season due to a right elbow flexor strain. He spent nearly five months on the injured list, triggering a clause in his contract that converted his player option for 2027 into a team option. If the Padres had picked up that team option, Pivetta would’ve had a player option for the 2028 season worth $18 million.
During his fourth start of the season on April 12 against the Rockies, Pivetta had to exit the contest with the elbow injury, and he didn’t return to the mound for the Padres until Sept. 7. He was good in his four starts during the final month of the regular season, posting a 1.45 ERA over 18 2/3 innings.
Pivetta then made two postseason starts for San Diego, giving up three runs on eight hits with two walks and eight strikeouts over 7 2/3 innings between the National League Wild Card Series against the Cubs and the NL Division Series against the Brewers.
The 2026 season was Pivetta’s second with the Padres. In ’25, he was durable and pitched to a 2.87 ERA over 31 starts, finishing sixth in NL Cy Young Award voting. Overall, he owns a career 4.43 ERA in 10 Major League seasons, the first three of which were spent with the Phillies before he was dealt to the Red Sox during the pandemic-shortened 2020 campaign.
Pivetta pitched for Boston through 2024, before inking a four-year, $55 million contract to join the Padres -- though $32 million of that was for what were initially player option years in 2027 and ’28.
The recent injury history could be a factor in the Padres’ decision to decline their option on Pivetta -- he also missed time due to a right elbow flexor strain while with the Red Sox in 2024 -- though the club has expressed interest in re-signing him this offseason.
Another veteran starter, Michael King, opted out of his contract with San Diego earlier in the week, electing instead to enter free agency. With King, who was the Padres’ best starter in 2026, a free agent along with others from last season’s starting staff -- including Casey Mize, Robbie Ray and Walker Buehler -- San Diego’s rotation for next season will have several vacancies. Yu Darvish’s baseball future also remains uncertain.
That leaves Joe Musgrove (who returned from Tommy John surgery and appeared in the playoffs) and Randy Vásquez as the main returning rotation options in 2027.
Peralta, 35, pitched well primarily out of the bullpen in his third season with the Padres, posting a 3.61 ERA over 65 appearances (five starts) in 2026. He originally signed with San Diego prior to the 2024 campaign, on a four-year deal with player options for 2026 and ’27.