Padres make SF Giants' bargain offseason look exorbitant with latest thrifty signing

The SF Giants addressed the holes in their starting rotation during the offseason, but they did it on a self-imposed budget. The San Diego Padres just made it seem like the Giants went on an offseason splurge though after they signed veteran pitcher Lucas Giolito.

San Diego was able to get Giolito, who somehow remained unsigned nearly a month into the season, for just under $2.8 million in guaranteed money for 2026. The contract does contain a mutual option for 2027 with some potential added incentives based on performance. But still, that's a mere pittance for a guy who had a 3.41 ERA with the Boston Red Sox in 26 starts last season.

Keep in mind that the last contract he signed was for two years and $38.5 million with Boston prior to the 2024 season. He did miss all of 2024 due to injury but the fact that he bounced back and had a solid year in 2025 shows that the 31-year-old still has gas left in the tank.

SF Giants have egg on their face after Padres get Lucas Giolito on the cheap

Perhaps what he thought he was worth was simply not in step with what MLB front offices had him valued at so he decided to wait rather than sign.

He's now joining a Padres team that is off to a great start. San Diego is 17-8 so far and is neck-and-neck with the Los Angeles Dodgers for the early lead in the National League West. The Padres need some starting pitching depth after some early injuries so it's a smart move and convenient for them that Giolito was still available.

While the Padres got Giolito for less than $3 million, the Giants signed Tyler Mahle and Adrian Houser in the offseason, paying them a combined $21 million for 2026.

So far, neither of those signings look all that great. Tyler Mahle was masterful in his last start for the Giants against the Dodgers as he pitched seven scoreless innings but he still has a 5.26 ERA on the year through five starts.

Houser looked awful last night against the Miami Marlins as he allowed eight earned runs in four innings and his ERA has ballooned to 7.36 on the season. The Giants signed Houser to a two-year deal so at least we get to look forward to his starts in 2027 as well!

Unfortunately, the Giants chose not to invest a lot of money into their rotation yet again. They're getting what they paid for right now and there's a decent chance that the Padres will pay a fraction of what they spent on Mahle and Houser and could very well get a better pitcher.

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