Whenever fans think about big market teams, a few immediately come to mind. The New York Yankees. The Boston Red Sox. The Los Angeles Dodgers. But the San Diego Padres, historically a small-market team, are now spending cash like there's no tomorrow, their latest splurge being an 11-year, $280 million agreement with former Red Sox shortstop Xander Bogaerts.

In the process, the Padres matched a spending feat only the historically rich Yankees have accomplished.

After signing Bogaerts to his megadeal, the Padres have now handed three contracts worth $275 million or more, matching the team in pinstripes for handing out the most such contracts, per ESPN Stats & Info.

Back in 2019, the Padres nabbed Manny Machado away from division rivals Dodgers with a 10-year, $300 million contract, the largest in franchise history to that point. And then in 2021, the Padres decided to lock up Fernando Tatis Jr. to a 14-year, $340 million deal after Tatis' incredible first two seasons in the big leagues. Now, still not content with their glut of infield talent, the Padres have signed yet another player who could play shortstop in Xander Bogaerts to add to what should be MLB's most star-studded infield.

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Meanwhile, it may come as a surprise that the Yankees have only handed out three contracts worth $275 million or more. The first such instance was back in 2007, when they handed out a 10-year, $275 million deal to the controversial Alex Rodriguez. The Yankees were then able to “hold off” on splurging for 12 years before they signed Gerrit Cole to a nine-year, $324 million deal.

And now, the Yankees are responsible for baseball's largest ever contract, after they re-signed Aaron Judge to an incredible nine-year, $360 million deal that makes the 6'7 slugger the highest paid player in baseball in terms of AAV.

The Padres may not be done spending yet, as they will soon have to lock up marquee trade deadline acquisition Juan Soto soon enough. But the Padres are spending like they're the league's new high-rollers, so they might be likely to pony up once more when the time comes.