The Padres agreed to a three-year, $27 million extension with left fielder Carlos Quentin.
The deal includes a full no-trade clause -- a pivotal stipulation for Quentin, who is a native of San Diego and wants to remain in his hometown.
"We are very pleased to extend Carlos' contract," Padres GM Josh Byrnes said in a statement. "He provides a real threat in the middle of our lineup and brings an intensity and edge to our club. As a San Diegan, he is very invested in the success of the Padres."
The Padres, who soon will be under new ownership, also are in talks with All-Star closer Huston Street about a new contract, according to a source. Street, 28, has a $9 million mutual option for next season. He likely will seek a multi-year deal, while the club might simply prefer to guarantee the option.
Quentin, 29, was considered one of the top available hitters on the trade market. He began the season on the disabled list after undergoing surgery on his right knee, and is batting .273/.389/.525 in 40 games.
Quentin can earn another $3 million in bonuses over the life of his contract if he remains healthy, a source said.The signing of Quentin leaves third baseman Chase Headley as the Padres' most valuable trade chip. Headley could be moved because of the heavy interest in him and because the team has a ready replacement, Jedd Gyorko.
CBSSports.com first reported the news that Quentin and the Padres were close to a deal.