On Monday, they announced the acquisition of left-hander Robbie Ray from the division-rival Giants in exchange for pitching prospect Miguel Mendez and shortstop prospect Joniel Hernandez. A rotation including King, Ray, Musgrove, Pivetta and Buehler would be the strongest group the Padres have trotted out all season. They’ll trim $3.83MM or so in 2026 spending, but they’re already more than $20MM shy of the luxury tax threshold. For the Padres, who are about $17MM over the luxury tax threshold — as shown in MLBTR’s Payroll Tracker — this swap will push them right up to the brink of the second tax threshold. Jeff Passan of ESPN first reported that a Ray trade between San Diego and San Francisco was being finalized.