​MILWAUKEE, WISCONSIN – OCTOBER 04: Michael King #34 of the San Diego Padres heads to the dugout prior to game two of the National League Division Series against the Milwaukee Brewers at American Family Field on October 04, 2026 in Milwaukee, Wisconsin. (Photo by John Fisher/Getty Images) | Getty Images Padres star RHP Michael King declined his player option today and will be a free agent. Will be one of the most coveted players on market.— Jon Heyman (@JonHeyman) October 29, 2026As was expected throughout all of baseball, San Diego Padres ace starter Michael King has opted out of his contract with the team. King signed a three-year deal before this season and had $58 million remaining over the next two years. By opting out, he receives a $5 million buyout for 2027, effectively giving him a 2026 salary of $22 million.No quick contract agreementHis opt-out indicates that there was no quick resolution to the wish on both sides for King to remain a Padre. Widely considered the second-best pitcher to enter the free agent market, after Tarik Skubal, King figures to command a multi-year, high-value deal. In a recent article in The Athletic, Jim Bowden estimated a four-year, $118 million deal. If that is close to accurate, it is only somewhat more than the right-hander would have gotten with his Padres deal, but with the addition of two more years. At 31 years of age, King is still in his prime and could easily fulfill a four-year deal with that value.What will free agency bring for KingAfter a less-than-enjoyable turn through free agency last year (King expressed his dissatisfaction with the process at his signing press conference), the process will most likely prove to be a more lucrative experience this time around. King had just come off an injury-plagued season in 2025 when he re-signed with the Padres during the last offseason. His performance this year, a 2.59 ERA over 100 2/3 innings, showed he is fully back from those injuries and is a staff ace.Padres are short starters His value to the Padres is probably higher than with any other team that can make offers to the New York native. The Padres have Randy Vasquez as the only reliable starter on the roster. Joe Musgrove returned to the team with three postseason innings out of the bullpen, but his presence in the rotation next season is not assured.Nick Pivetta has a $14 million team option after missing much of the season with a strained flexor tendon. This is the second season in a row that Pivetta has missed significant time with the same injury. His reliability and health are in question, and that large of an option has to be a major source of anxiety for the organization.JP Sears is not an effective major league starter for the Padres. At best, he provides emergency depth in the minor leagues. Jhony Brito is unproven and recently completed rehab for his Tommy John surgery, certainly not a reliable option either.All other pitchers who started for the Friars in 2026 are free agents as of