King declined his $28 million player option for 2027 on Thursday and is now a free agent, Jon Heyman of the New York Post reports.
King will receive a $5 million buyout instead and will now be on the lookout for a multi-year contract this offseason. The 31-year-old right-hander logged a 3.21 ERA and 1.18 WHIP across 32 regular-season starts for the Padres in 2026, though his strikeout rate dipped to 21 percent. King will be arguably the top free-agent starting pitcher after Tarik Skubal.