Machado, four-time All-Star and two-time Gold Glove winner, reportedly signed a 10-year, $300 million deal with the Padres Tuesday, which includes an opt-out option after the fifth year. It would be the biggest free-agent contract in the history of U.S. sports.
Padres chairman Ron Fowler told The Athletic they had not yet reached a deal with Machado and were "continuing discussions."
Machado spent seven seasons with the Baltimore Orioles before he was traded to the Los Angeles Dodgers in the middle of last season where he helped the team reach the World Series for the second straight year only to lose to the Boston Red Sox.
The 26-year-old infielder played in every game between his time with the Orioles and Dodgers. He batted .297 with 37 home runs and recorded a .905 OPS.
The signing comes days after spring training opened up and amid controversy about owners unwilling to pay big name free agents the money they were reportedly commanding.
The Machado signing also puts the focus on Bryce Harper, who was also reportedly commanding similar figures.