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Padres make 8-year deal with Hosmer official

First baseman gets contract for $144 million, largest in franchise history
MLB.com @AJCassavell

PEORIA, Ariz. -- After an offseason filled with slow-churning drama, the Padres have landed their top target -- and one of the top targets on the entire market. Eric Hosmer is headed to San Diego, the team announced on Monday. The 28-year-old first baseman has agreed to an eight-year contract that includes an opt-out after the fifth year.

Hosmer's deal is worth $144 million, the largest contract in club history. According to multiple reports, Hosmer will earn $20 million per year the first five seasons and $13 million each of the final three, along with a $5 million signing bonus. Hosmer will have a full no-trade clause for the first three seasons, along with limited trade protection after that.

PEORIA, Ariz. -- After an offseason filled with slow-churning drama, the Padres have landed their top target -- and one of the top targets on the entire market. Eric Hosmer is headed to San Diego, the team announced on Monday. The 28-year-old first baseman has agreed to an eight-year contract that includes an opt-out after the fifth year.

Hosmer's deal is worth $144 million, the largest contract in club history. According to multiple reports, Hosmer will earn $20 million per year the first five seasons and $13 million each of the final three, along with a $5 million signing bonus. Hosmer will have a full no-trade clause for the first three seasons, along with limited trade protection after that.

Video: Morosi on how the Padres reportedly landed Hosmer

The Padres will introduce Hosmer at Peoria Sports Complex in a news conference scheduled for Tuesday at 11 a.m. ET/8 a.m. PT. 

"We're truly excited to have Eric as part of the Padres organization," general manager A.J. Preller said in a statement announcing the signing on Monday night. "His resume speaks for itself. Eric has been a winner throughout his career, both as an integral part of a championship team and as a player who's earned a tremendous reputation on and off the field. We believe his leadership and passion for the game will be invaluable as we work towards our goal of a World Series championship."

"Eric's decision to join our club represents a significant moment in Padres history," Padres executive chairman Ron Fowler and general partner Peter Seidler said in Monday's statement. "He has competed on baseball's biggest stages and has embraced each opportunity. The intangibles and experience that he brings to the table will be vital as we continue the development of our young club and strive to bring a championship to deserving Padres fans everywhere."

Tweet from @AJCassavell: I'm told Eric Hosmer will wear No. 30 to honor his late teammate Yordano Ventura.

Hosmer, who will wear No. 30, is set to become the franchise's first baseman of the future, with Wil Myers -- who had previously held that tag -- headed back to the outfield. Myers, whose $83 million deal was the largest in franchise history, has said he'd gleefully accept a move to a corner-outfield spot if it meant bringing Hosmer on board. The two were once farmhands together in the Royals' organization.

"I do love first base," Myers said. "But I would much rather have a guy like that here than to play first base."

Hosmer's arrival will reshape outfield, lineup

Entering his age-28 season, Hosmer was the youngest major free agent available this offseason. That fact was particularly appealing to the San Diego front office. The Padres have one of the youngest rosters in baseball and arguably the sport's best farm system. In Myers, Austin Hedges, Manuel Margot and Hunter Renfroe, they have an offensive core under team control through 2022.

Video: Outlook: Hosmer should remain a reliable performer

In theory, Hosmer will still be in his prime as some of those youngsters begin to flourish in San Diego. The Padres believe their young core will soon make them regular contenders in the National League West, and this move undoubtedly expedites that process.

"Hos is a legitimate All-Star, he's a great player, he brings veteran experience, he's a winner, he's a champion and a great mentor for young guys," said right-hander Chris Young, Hosmer's former teammate in Kansas City. "He fits all the categories you're looking for in terms of a teammate, a leader, a competitor, and I think he makes any clubhouse better."

Video: Chris Young on what Eric Hosmer brings to the Padres

Hosmer batted .318/.385/.498 with 25 homers last season for Kansas City, where he quickly became a fan favorite. He's a lifetime .284/.342/.439 hitter and played a pivotal role on the 2014-15 Royals teams that captured back-to-back American League pennants and the '15 World Series title. His mad dash home in the ninth inning of Game 5 is the lasting image from that Series. Now, it's the Padres hoping Hosmer can make a few lasting October images of his own at Petco Park.

Because Hosmer received a qualifying offer and the Royals are a recipient of revenue sharing, they will receive a compensation pick after the first round of this June's Draft. And because the deal will be in excess of $50 million, that pick will come right after the first round. They already received a similar pick after the first round when Lorenzo Cain signed with Milwaukee. Third baseman Mike Moustakas remains a free agent as well, and he also received a qualifying offer, which means the Royals will receive another compensation pick should he sign elsewhere. According to the Collective Bargaining Agreement's rules, that compensation pick would come after Competitive Balance Round B, which follows the second round, if the deal falls short of $50 million in total.

As a result of all these compensation picks and the associated Draft bonus allocations, the Royals will likely have one of the five largest bonus pools in this year's Draft, which should jump-start their rebuild. Meanwhile, the Padres, who are also a revenue-sharing recipient, will lose their third-highest selection as a result of this signing, which shouldn't have a significant impact on their Draft.

In the immediate future, Hosmer is expected to slot into the middle of a Padres lineup that desperately needed some left-handed pop. He'll be joined there by Myers, presumably forming the meat of the order and giving Myers protection for the first time in two seasons. Myers' move to the outfield creates a ripple effect as well. Renfroe and Jose Pirela now appear poised to compete for the other corner-outfield job.

Video: Eric Hosmer's enjoyed hitting at Petco Park

"You have a lot of guys fighting for not necessarily a ton of at-bats," said Padres manager Andy Green, who otherwise declined to comment on Hosmer until the deal is official. "It's good for our culture, it's good for our clubhouse for guys to know 'I've got to perform if I want to play for the Padres, because if not, there's somebody else right there knocking on the door waiting to come.' The more competitive we can make it to get at-bats on the roster, the better of a club we're going to be."

The Padres could move Pirela -- a line-drive machine who has struggled with the glove -- back to second base. But that would only serve to shake things up further in the infield.

Of course, that's a question for another day. For now, the Padres have their man -- a player who has already helped revitalize one franchise and brought a World Series to a title-starved city.

They're hopeful for more of the same in San Diego.

Video: Zinkie on the fantasy impact of Hosmer to Padres

Fantasy spin | Fred Zinkie (@FredZinkieMLB)

Although he lacks game-changing power, Hosmer has emerged as one of the most reliable fantasy first basemen by averaging 23 home runs, 97 RBIs and 92 runs over the past three seasons. Those stats likely won't improve with his move to a retooling lineup and pitcher-friendly home park, but the 28-year-old should remain a top-10 first baseman worth selecting in Round 7 of 12-team drafts. Meanwhile, Hosmer's arrival boosts the counting-stat potential of Myers, who can be valued similarly to his new teammate in 2018 leagues.

AJ Cassavell covers the Padres for MLB.com. Follow him on Twitter @ajcassavell.

San Diego Padres, Eric Hosmer