Padres target free-agent pitchers Peralta, Martinez and Boyd

San Diego is said to be interested in free-agent right-handers Freddy Peralta and Nick Martinez, according to ESPN reporter Alden Gonzalez, while the Union-Tribune’s Kevin Acee added that the club is also evaluating left-hander Matthew Boyd. Acee noted that the Padres have shown interest in virtually every starter on the market.

The interest comes as several current rotation members – Michael King, Nick Pivetta, Walker Buehler, Casey Mize, Robbie Ray and Griffin Canning – are set to become free agents, leaving the team with a staff that includes Randy Vasquez, JP Sears, Joe Musgrove (potentially in the bullpen), swingman candidate Ryan Weiss and possibly veteran Yu Darvish.

MLB Trade Rumors projects Peralta could command a five-year, $110 million deal, Martinez a two-year, $42 million contract and Boyd a one-year, $13 million offer. Peralta’s recent performance, after a rough stint with the Mets and a rebound with the Rays, may affect his market value, and the Padres could consider contract structures with early opt-outs, similar to past deals for King and Pivetta.

Martinez, 36, previously signed two contracts with San Diego after returning from Japan and posted a solid season as a full-time starter in 2026. Boyd, also 36, missed time in 2026 due to knee surgery but posted a 3.50 ERA over 306 1/3 innings with the Cubs and is viewed as a potential third starter.

Padres president of baseball operations A.J. Preller told reporters he will meet this week with new owners Jose E. Feliciano and Kwanza Jones and CEO Erik Greupner to discuss the club’s spending capacity. He said, "> Jose and Kwanza are open to having those conversations, open to what that means from a different dollar amount and different contract commitments, and hopefully we make some good decisions."

According to Acee, the ownership group plans to match or exceed the 2026 payroll, which MLB Trade Rumors’ Payroll Tracker listed at about $224 million, positioning the Padres among the league’s top-10 payrolls. With roughly $193 million and a luxury-tax threshold near $192.6 million projected for the next season, the club appears to have some flexibility to address needs in the rotation, bullpen and lineup.