Left‑hander Wandy Peralta has activated his $4.45 million player option, Jon Heyman reported, ensuring he stays in San Diego’s bullpen for the 2027 season.
This marks Peralta’s third consecutive offseason staying with San Diego. His original four‑year pact, inked in February 2024, featured a $4.25 million option for 2025 and $4.45 million options for 2026 and ’27. Compared with teammate Yuki Matsui—four years younger and boasting a sub‑2.00 ERA, albeit with some luck—Peralta likely would have taken a pay cut on the open market. Instead he will fulfill the final year of his current contract. Matsui must decide by 4:00 p.m. CT tomorrow whether to remain for two years at $13.5 million.
At 35, Peralta has been a reliable reliever since 2020. Over 376 innings he has limited hitters to a .669 OPS and posted a 3.26 ERA. Though his strikeout totals sit below league average, his sinker‑changeup mix and elite ground‑ball rate—56.8% tops only 11 pitchers with 250+ innings from 2021‑25—keep him effective. For my money, his ability to induce grounders makes him undervalued.
This season showed a modest dip. Peralta logged a career‑high 77 1/3 innings with a respectable 3.61 ERA and a career‑best 7.2% walk rate. Yet his strikeout percentage slipped to 15.6% and he leaned on a lofty 77.7% strand rate. Ground‑ball frequency fell from 59.7% in 2025 to 45.6% now—still above average but far from his peak. Both xERA and SIERA sit at 4.32, noticeably higher than his actual ERA.
Despite the drop in grounders, his durability and solid results render him an underrated bullpen piece. He logged the second‑most innings among Padres relievers, trailing only left‑hander Adrian Morejon’s 86 frames. Bradgley Rodriguez and closer Mason Miller each logged 70 innings. Morejon’s strong season could earn him a qualifying offer, though his price tag might deter a return if he declines.
With Morejon and Jason Adam exiting, the bullpen’s core now comprises Miller, Rodriguez and Jeremiah Estrada. Peralta may lack flash, but he provides valuable middle‑relief mileage. As San Diego rebuilds its rotation—Michael King, Nick Pivetta, Walker Buehler, Robbie Ray and Casey Mize are all free agents—keeping Peralta on a cheap deal preserves bullpen continuity and frees cash for starters. Will his steady presence help the Padres navigate a turbulent rotation overhaul?