SAN DIEGO (KGTV) – The Padres on Wednesday announced the signing of free agent starting pitcher Lucas Giolito to a one-year contract.
Giolito, 31, is being optioned to Single-A Lake Elsinore, according to Padres President of Baseball Operations/General Manager A.J. Preller. Giolito is expected to join the big league club sometime in May.
The Associated Press, citing a source, reported Giolito is getting a guaranteed $2,775,401 in the deal, which includes a 2027 mutual option.
Per AP, Giolito gets a $1.5 million salary from San Diego — which comes to $1,275,401 for the final 159 days of the 187-day season. Giolito's contract includes an $8 million mutual option for 2027 with a $1.5 million buyout.
Giolito's buyout can escalate by up to $3 million for starts this year: $250,000 for eight, $500,000 each for 12 and 16, $750,000 for 20 and $1 million for 2024.
He also can earn bonuses for his finish in Cy Young Award voting: $2 million for finishing among the top five and $1 million for sixth through 10th.
To make room for Giolito on the 40-man roster, relief pitcher Bryan Hoeing was transferred to the 60-day injured list.
Giolito -- an American League All-Star in 2019 -- spent the 2025 season with the Boston Red Sox, finishing the year with a 10-4 record (26 starts), a 3.41 earned run average, and 121 strikeouts. He missed the 2024 season while recovering from Tommy John surgery on his right elbow.
Giolito’s signing comes after Opening Day starter Nick Pivetta recently went on the injured list a right elbow flexor strain. Pivetta could miss multiple months as part of his recovery and rehab.
Meanwhile, Joe Musgrove – coming off Tommy John surgery that cost him all of 2025 – was placed on the injured list to start the 2026 season.
Starter Yu Darvish is out for the season after undergoing a procedure on his right elbow during the offseason.
The Associated Press contributed to this report.
