San Diego Padres star third baseman Manny Machado revealed Friday that he intends to opt out of his contract once the 2023 season comes to an end.

Despite signing a 10-year deal worth $300 million with the Padres prior to the 2019 season, the 30-year-old said he has taken notice of other the big money contracts that have been given out across the MLB.

"There's a lot of money out there," Machado told reporters. "As a player about to opt out, it's pretty good to see."

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The terms of the agreement gives Machado the ability to opt out next winter, but doing so would void the five years and $150 million remaining on the deal.

Machado is coming off a stellar 2022 campaign in which he was the runner-up in National League MVP voting. 

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In his first four seasons in San Diego, he's batted .280/.352/.504 (136 OPS+) with 108 home runs. He also flashes with the glove and has continued to display strong defensive skills from his third base spot.

Last winter's free agency period saw a number of premiere players ink massive contracts, which makes Machado's decision to opt out somewhat unsurprising.

Machado's own team went out and signed a veteran infielder to a long-term deal this offseason, Xander Bogaerts. The shortstop agreed to the terms of an 11-year, $280 million deal with the Padres.

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Elsewhere, shortstop Trea Turner and slugger Aaron Judge landed lengthy contract this past winter. In December, Turner singed an 11-year, $300 million deal with the Philadelphia Phillies.

Judge, who set the record for home runs in a single season, inked a nine-year, $360 million contract to remain with the New York Yankees. Machado could be look for a new long-term deal somewhere in the neighborhood of at least $30 million guaranteed annually.

The Padres are expected to discuss a long-term extension with Machado ahead of Opening Day, The Athletic reported.

San Diego did keep another key part of their roster in place by recently extending veteran starter Yu Darvish's contract through 2028.

Machado is not the only star player on which the team will soon have to make a decision, as outfielder Juan Soto is set to hit free agency in 2024.