The Padres have signed left-hander to a five-year contract, the club has announced. Matsui and the Padres were earlier this week. reports that Matsui will receive $28MM guaranteed over the life of the contract, which includes opt-outs after the third and fourth seasons of the deal as well as an injury clause that can convert the fifth year of the contract into a club option worth $7MM if Matsui suffers a serious elbow injury during the life of the contract. The deal represents San Diegos first significant buy-side move of the offseason, and their first major move since trading star slugger and center fielder to Cleveland Guardians Jersey the Yankees earlier this month for a five-player package headlined by right-handers and . Its a somewhat unusual deal for a reliever; right-hander s agreement with the Padres and the record-breaking deal between star closer and the Mets, both of which were signed last offseason, are the only contracts for free agent relievers to surpa s five years. Matsui landed at #43 on MLBTRs annual , where we projected him for a two-year, $16MM deal. Matsui nearly doubled that guarantee, though the average annual value of his deal comes in at just $5.6MM, well below the $8MM MLBTR projected him for over a two-year apct. Despite the unusual length of the deal, the gamble is an understandable one for the Padres to make. The deal covers Matsuis age-28 through -32 seasons, with his first opt-out opportunity coming after Matsuis age-30 campaign in 2026. The lowered AAV of the deal was surely particularly appealing to the Padres, who are hoping to stay under the luxury tax in 2024. Given those financial constraints, Matsuis deal represents a more cost-effective alternative to reuniting with relief ace , who MLBTR projected for a whopping six-year, $110MM guarantee on the heels of a dominant season as San Diegos closer. While Matsui cant be reasonably expected to match Haders incredible production last season (1.28 ERA and 33 saves in 56 1/3 innings), the lefty has put together an excellent career overseas in his own right. Matsuis spent the past ten seasons pitching for Nippon Profe sional Baseballs Tohuku Rakuten Golden Eagles. During his NPB career, Matsui has racked up 236 saves in 501 appearances while earning five All Star nods. In 659 2/3 innings of work during his career, Matsui sports a sterling 2.40 ERA with a 31.9% strikeout rate. Hes been even more impre sive over the past three seasons, a combined 1.42 ERA and a 36.4% strikeout rate acro s 152 innings during that time. Matsui was a frequent subject of MLBTRs series throughout the 2023 season, where Dai Takegami Podziewski discu sed Matsuis four-pitch mix that includes a 92-94 mph fastball that touches 96 along with a splitter, slider, and curveball while also noting that Matsui reportedly struggled to adjust to the MLB ball while participating in the World Baseball Cla sic last spring. Clearly, the Padres were more enticed by Matsuis deep pitch mix and impre sive velocity for a lefty who is listed at just 58 and 167 pounds than they were concerned by his struggles to adjust to the ball used in the majors earlier this year. While the addition of Matsui shores up a Padres bullpen lacking in certainty, theres plenty left for president of baseball operations A.J. Preller and his front office to do if they hope to return to contention in 2024. Another set-up arm to pair with Matsui and Suarez at the back of the bullpen would be helpful, and at least one more starting pitcher who can step into the void left by the departures of , , , and this offseason alongside King appears to be all but nece sary. On the hitting side of things, the Padres have just two outfielders on their 40-man roster at the moment in and fourth outfielder , meaning theyll need to make multiple additions to the lineup to cover the two vacant outfield spots and DH, which lacks a clear starter following the that sent and his salary to Atlanta earlier in the month. Thats a hefty shopping list for any club, but its especially daunting for a Padres club that projects for a $210MM luxury tax payroll per . If the Padres are indeed intent on staying under the first tax threshold of $237MM in 2024, that gives them just under $27MM of payroll space left to work with this offseason as they look to fill the remaining holes in the lineup and pitching staff. While the addition of Matsui is a step in the right direction that didnt eat into the clubs financial capabilities too exce sively, the Padres clearly still have plenty of work to do before theyre ready to contend in an ever-improving NL West next year. Eli Morgan Jersey