I've been waiting to see when they'd blow it up, and while the SD newspapers are saying they'd still keep a 200M payroll, we'll see:
https://www.sandiegouniontribune.com/sports/padres/story/2023-09-25/padres-payroll-juan-soto-nick-martinez-seth-lugo-michael-wacha-debt
Sounds like GM A.J. Preller may get the boot, which is understandable after his repeated failures spending the owners money. And there's way more drama than just the losing according to Ken Rosenthal:
https://theathletic.com/4874799/2023/09/19/san-diego-padres-disaster-season-preller/
With the suggested 200M payroll, MLBTR believes the core group of Manny Machado, Fernando Tatis Jr., Xander Bogaerts, Yu Darvish, Ha-Seong Kim and Joe Musgrove would be retained, though Juan Soto is quite likely to be moved and they won't resign any of their free agents. (Any doubt Josh Hader is going to be the most posted about non-Twin this winter?)
https://www.mlbtraderumors.com/2023/09/padres-plan-to-reduce-payroll-to-around-200mm-front-office-changes-possible.html
I have my doubts they keep the core group together though. If they do hire a new GM, and they are looking to cut costs, I'd bet they trade more than Soto, and I'd bet ownership would start over with a lower payroll than 200M. Aside from Soto and the injured Musgrove, their stars had down years last year, so I guess it's possible they could hope for a rebound and move them down the road, but Machado and Bogaerts are now over 30-years-old and have some ugly contracts coming up. If they don't turn things around, SD will have to eat most of those contracts if they gamble wrong.
Anyway, I've been waiting for this soap opera to start for awhile now, hope any of these guys who don't find their way to Minnesota, stay in the NL.