After considering his options - which included the Cleveland Indians - Trevor Hoffman decided it was in his best interest to return to San Diego - thanks to a $13.5 million deal from San Diego that could reach $19 over three years.
Trevor Hoffman is one of the all-time great relievers in Major League history and certainly the greatest in the history of our franchise," said Towers. "He has been the foundation of our bullpen since 1993 and it's great to know that he'll continue to close out games and pursue Major League records in a Padres uniform."
Hoffman has been the Padres' closer for 13 seasons, and the face of the team as it moved into PETCO Park.
He can now set the all-time saves record - he's 42 shy of Lee Smith with 436 - netting all but two of his saves with the San Diego organization.
The 38-year-old closer is coming off one of his finest seasons where he racked up 43 saves and helped the Padres win the NL West, going 1-6 with a 2.97 ERA.
Since 1996, Hoffman has produced between 37 and 53 saves in nine of 10 seasons, missing almost all of 2003 after shoulder surgery.
Hoffman has converted 89.5% (436-for-487) of his career save opportunities, the highest rate in Major League history of any reliever with minimum of 190 save opportunities. Additionally, he has converted at least 90% of his save chances in six different seasons (1998, 1999, 2001, 2002, 2004 and 2005), the only player in Major League history to do so. He has saved at least 40 games in a Major League-record seven seasons (1996, 1998, 1999, 2000, 2001, 2004 and 2005), and shares the record of 10 seasons with 30 or more saves with Smith.
"Trevor Hoffman is a San Diego Padres institution. His value to the organization and the city of San Diego is immeasurable," said CEO Sandy Alderson.