The Padres officially announced Martinez's signing Wednesday, after he had previously reached a verbal agreement with the team on a four-year, $25.5 million deal in December, Dennis Lin of The Athletic reports.
Back on Dec. 1, San Diego was able to lure Martinez away from Japan's Nippon Professional Baseball following his excellent four-year run overseas, but the two sides were unable to finalize the deal due to the MLB lockout going to effect shortly after the agreement was reached. Now that the lockout has ended, Martinez finally put pen to paper on a uniquely structured deal. He'll take home $6 million in 2021 through a $4 million salary and a $2 million signing bonus, and he'll hold a $6.5 million player option for each of the subsequent three years. His contract also contains a $1 million base-salary escalator in each year that he makes at least 20 starts.