The Padres are locking down their star third baseman.

The San Diego Padres and star Manny Machado are finalizing an 11-year, $350 million contract extension, according to reports.

The deal comes a week after Machado said he would opt out of the final five years of his contract that he initially inked with the Padres in 2019 after a short stint with the Dodgers. The final five years of the previous deal owed the third baseman $150 million.

The new reported contract extension keeps the star in San Diego through the 2033 season.

The new deal keeps the six-time All-Star in San Diego without him testing the free agency market next winter, a market that Machado said has “lot of money out there” during a spring training interview last week.

The Padres front office remain steadfast in making big splurges in order to win the franchise’s first World Series.

In December, the team signed former Red Sox shortstop Xander Bogaerts to an 11-year, $280 million contract. Bogaerts’ addition will force Fernando Tatis Jr., who signed a 14-year, $340 million deal in 2021, to the outfield after he returns from suspension.

Earlier this month, right-hander Yu Darvish inked a six-year, $108 million extension with the team. Right-hander Joe Musgrove capped an All-Star season by signing his five-year, $100 million dollar deal in August.

With Juan Soto’s impending free agency looming, the Padres currently carry the third-highest competitive-balance-tax payroll in MLB at more than $266 million, according to Baseball Prospectus.

Machado finished second in the National League MVP voting last season, losing to St. Louis’ Paul Goldschmidt. The two-time Gold Glove award winner played one of his best seasons with the Padres in 2022, slashing .298/.366/.531 with 32 homers and 102 RBI.

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