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Red Sox Decline Mutual Option With Liam Hendriks

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The Red Sox have declined their end of a $12MM mutual option for right-hander Liam Hendriks, reports Chris Cotillo of MassLive. The former closer will take a $2MM buyout and return to free agency.

The decision doesn’t come as a surprise, as Hendriks has hardly pitched over the past three years. In 2023, a battle with non-Hodgkin’s lymphoma kept him out of action for a while. He eventually won that battle and was declared cancer-free, only to require Tommy John surgery after just five innings pitched.

He reached free agency going into 2024 and the Red Sox signed him to a two-year deal with a $10MM guarantee. That took the form of a $2MM salary in the first year, a $6MM salary in the second, followed by the aforementioned option and buyout. The Sox knew they might not get any contributions from Hendriks in the first year but were hoping their investment would pay off in the second, with Hendriks ideally returning to his previous elite closer form.

It didn’t work out that way. Hendriks missed the entire 2024 season and then elbow problems lingered into the following year. He spent most of 2025 on the injured list, only throwing 13 2/3 innings. He underwent ulnar nerve transposition surgery in September and has an uncertain timeline.

Hendriks will presumably be focused on getting healthy for a while. He will celebrate his 37th birthday in February. He’ll be a candidate for another bounceback deal at some point, though the shape of that deal will depend upon his future health outlook.

Photo courtesy of Ken Blaze, Imagn Images

Trevor Story To Decline Opt-Out Clause, Will Remain With Red Sox

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Trevor Story will not be exercising the opt-out clause in his contract with the Red Sox, MassLive.com’s Chris Cotillo reports.  Story had the ability to leave after the fourth year of his six-year, $120MM deal, but he’ll remain with the Sox and collect the remaining $55MM owed to him rather than test free agency this winter.

The remaining salary breaks down as a $25MM salary in each of the 2026 and 2027 seasons, plus there is a $5MM buyout of a $25MM club option on Story’s services for 2028.  Story turns 33 in a couple of weeks and is coming off an okay but unspectacular 2025 campaign, so he has chosen to stick with the comfort and financial security of his current deal in Boston.

The fact that this decision was even somewhat debatable for Story is a testament to his bounce-back year.  The first three seasons of Story’s contract were essentially a disaster, as injuries limited the shortstop to 163 games and he hit only .232/.296/.397 over 670 plate appearances.  In 2025, however, Story was healthy and played in 157 games, batting .263/.308/.433 over 654 PA.  Story launched 25 home runs and also set a new career high with 31 stolen bases (against just one caught-stealing).

It was something of a comeback year within a comeback year, as Story had to overcome an ice-cold start before heating up considerably after the first two months of play.  The result was an almost exactly average 101 wRC+, and Story also had the lowest walk rate (five percent) of his career.  Story’s glovework had remained a constant even throughout his injury-plagued days in Boston, yet this season his public defensive metrics plummeted to a -7 Defensive Runs Saved and -9 Outs Above Average.

These less-favorable numbers were surely on the mind of Story and his representatives at Wasserman as they considered the opt-out decision.  Even with a lack of premium shortstop talent available in free agency, Story ultimately decided that testing the market wasn’t worth the risk.  Story also might have flashed back to his last time on the open market, when the lockout interrupted the 2021-22 offseason and kept Story from landing his Red Sox contract until more than halfway through March.

With Story now officially back in the fold, the Sox have one big piece of their infield set for 2026.  Alex Bregman did exercise his opt-out clause, so the third base position is a question mark for now unless Bregman re-signs or if the Red Sox install Marcelo Mayer at the hot corner.  The second base starter is also unclear and there have been rumors that Boston wants a first base upgrade over Triston Casas (who is returning from a 2025 season almost entirely lost to injury).

Red Sox Avoid Arbitration With Jarren Duran

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The Red Sox announced that they have agreed to a one-year deal with outfielder Jarren Duran for the 2026 season.  MassLive.com’s Christopher Smith reports that Duran will earn $7.7MM in 2026, with another $75K available in bonus money.

The move technically counts as an arbitration-avoiding signing since Duran is under arb control through 2028, though the Red Sox signed him to a one-year deal last winter that contained an $8MM club option for 2026.  Boston has now declined that option, paid Duran a $100K buyout, and then inked this new deal that will ultimately save the club a bit of money.  The Athletic’s Jen McCaffrey reports that Duran will earn a $25K bonus if he reaches 450 plate appearances, and then another $25K for each of the 500-PA and 550-PA thresholds.

MLB Trade Rumors’ Matt Swartz projected Duran for an $8.4MM salary in his second winter of arb-eligibility, but going to a hearing never seemed likely due to the existence of Boston’s club option.  Duran is a Super Two player and thus has four arb years instead of the usual three, so he should continue to earn significant raises in his arbitration years if he keeps producing consistent results.

Duran hit .256/.332/.442 with 16 homers and 24 steals over 696 PA this season, and led the American League with 13 triples.  While a 111 wRC+ and 3.9 fWAR are more than respectable, it did represent a notable step back from the 131 wRC+ and 6.8 fWAR that Duran posted in 2024.

Beyond his on-field results, the most notable aspect of Duran’s 2025 campaign have been the persistent trade rumors that have followed the outfielder for a few years now.  With Roman Anthony emerging as a force in his rookie year, there has been even more speculation that the Sox might trade from their outfield surplus (i.e. Duran, Wilyer Abreu, or perhaps Ceddanne Rafaela) to address other roster needs, likely starting pitching.  The existence of the club option means that the Red Sox probably had to get some kind of resolution on Duran’s 2026 salary done relatively quickly, yet this early settlement might also hint that the Sox wanted to remove one wrinkle in advance of any upcoming trade talks.

Lucas Giolito Declines Mutual Option

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Red Sox right-hander Lucas Giolito has declined his end of a $19MM mutual option, reports Alex Speier of the Boston Globe. He’ll be paid a $1.5MM buyout and return to the open market in search of a new opportunity. The Red Sox will have the right to make him a $22.025MM qualifying offer, as Giolito has not previously received a QO in his career.

Giolito signed a two-year, $38.5MM deal with the Red Sox on the heels of a disappointing platform with the White Sox. He’d posted excellent results from 2019-21 and cemented himself as one of the sport’s most durable starters before logging back-to-back ERAs near 5.00 in 2022-23. Giolito, 32 next July, had hoped to bounce back in Boston and take an opt-out in his contract last offseason.

Instead, the clock struck midnight on the durable right-hander’s arm. He tore the UCL in his pitching elbow during spring training 2024 and didn’t pitch a single inning inning that year. Giolito naturally forwent the opt-out in his contract and returned to Boston for the 2025 season. He stumbled out of the gate, struggling so badly that for a few starts it looked like his entire two-year contract would go down as a bust. By early June, he had an ERA north of 6.00 through seven starts.

Giolito rebounded in terrific fashion, however. Beginning with six shutout innings against the Rays on June 10, he took off on an extended hot streak. From June 10 through season’s end, Giolito posted a 2.51 ERA in 111 1/3 innings. His 20.3% strikeout rate and 9.7% walk rate in that stretch were both worse than average, and his .244 average on balls in play showed plenty of good fortune. Even with some expected regression in his ERA, Giolito looked like a solid mid-rotation starter who’d take a place in Boston’s postseason rotation — at least until the next roadblock arose.

On Sept. 29, manager Alex Cora announced that Giolito was dealing with an elbow issue and would not be on the team’s roster in the Wild Card round of postseason play. The next day, the team indicated that Giolito was unlikely to return at all in 2025, regardless of how deep the Sox advanced in the postseason field. While his surgically repaired UCL was intact, the veteran righty was hobbled by flexor irritation and a bone issue in his elbow.

The Sox had a $14MM club option on Giolito for the 2026 season that they might still have exercised even after the elbow troubles, but when he completed his 140th frame of the season — Giolito totaled 145 innings overall — that option vested instead as a $19MM mutual option. Players tend to make the first call with regard to mutual options, and Giolito is seemingly confident enough in his health that he’ll turn down a net $17.5MM to once again test free agency.

His decision to decline the mutual option also forces the Red Sox into a decision on whether to issue a qualifying offer. They exceeded the luxury tax line in 2025, so they’d only net a compensatory pick after the fourth round of the 2026 draft if Giolito declined and signed elsewhere. That minimal compensation, coupled with more elbow troubles for Giolito, might be enough for the Sox to forgo extending a QO in the first place. If they do, however, Giolito will again have a decision to make — this time on a sum that clocks in a bit over $3MM north of his prior option price. Add in the buyout he’s owed for declining, and a QO could at least net him $4.525MM over the value of the option he declined today.

With Giolito headed toward the market — or at least somewhat up in the air — the Sox project for a rotation including Garrett Crochet, Brayan Bello and a handful of question marks. Top prospects Payton Tolle and Connelly Early impressed late in the season but only have a handful of MLB starts between them. Kutter Crawford missed the entire season due to knee and wrist injuries (the latter of which required surgery). Patrick Sandoval didn’t pitch in 2025 after signing a two-year deal on the heels of his 2024 UCL procedure, but he’ll be in the mix next year. Tanner Houck had Tommy John surgery in August and is likely a nonfactor in 2026.

Given all the uncertainty in the ’pen, the Sox are expected to pursue rotation help this winter. That could include a reunion with Giolito, but there are plenty of options for them to peruse on both the free agent and trade markets.

Alex Bregman Opts Out Of Red Sox Contract

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Alex Bregman has officially opted out of his contract with the Red Sox, per a report from Peter Abraham of the Boston Globe. Bregman will return to free agency, leaving the final two years and $80MM (including $40MM in deferred money) of the deal he signed with Boston last offseason on the table.

It’s an entirely anticipate outcome, as it was reported that Bregman would be opting out his contract last month. Still, the official news is a blow to the Red Sox infield. An All-Star in 2025, Bregman turned down larger offers in free agency in order to sign a short-term deal that gave him the flexibility to return to the open market in hopes that a stronger platform season could buoy him in a second trip through free agency. He certainly got the strong platform season he was hoping for, as he slashed an excellent .273/.360/.462 with 18 homers and 28 doubles in 495 trips to the plate. He was worth 3.5 WAR in just 114 games according to both Fangraphs and Baseball Reference, casting him as a clearly above-average regular capable of slotting into the middle of any lineup.

Of course, not everything about Bregman’s profile is quite so rosy. He played in 114 games this past year because a significant quad injury sidelined him for much of the summer. It’s his second abbreviated season in the past five years, joining a 2021 season where he suffered another quad injury and was limited to just 91 games. Bregman also slowed down a bit in the second half this year; he hit a somewhat pedestrian .250/.341/.386 in 261 plate appearances after the All-Star break.

That injury history, in conjunction with the fact that he’ll celebrate his 32nd birthday in March, could make some teams hesitant to commit to Bregman on a long-term deal. Still, he was pursued by not just the Red Sox, but also teams like the Tigers and Cubs in free agency last winter. With the Tigers coming off a disappointing loss in the AL Wild Card series and the Cubs now having made their first postseason in half a decade, those clubs could be more motivated to improve their lineups than they were last winter. And that’s not to mention the Red Sox themselves, who saw firsthand how valuable Bregman could be as a right-handed hitter in the middle of their lineup.

Bregman’s the standout player on the third base market this offseason, but he’s not the only player available who could fit at the hot corner for a team. Eugenio Suarez slugged 49 homers this year, though his defense is questionable and he’s two years older than Bregman. Bo Bichette is the star of the infield class, but might prefer to stay at his native position of shortstop even if there are teams with interest in him at second or third base. Perhaps a team is convinced of either Munetaka Murakami or Kazuma Okamoto’s ability to play the hot corner in the short term, but both NPB sluggers are generally viewed as better suited for first base defensively as they head into the posting process.

Offseason Outlook: Boston Red Sox

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The Red Sox finally made it back to the postseason this year, though their third place finish in the AL East and a quick exit in the Wild Card Series at the hands of the Yankees leaves fans hoping for more in 2026.

Guaranteed Contracts

  • Garrett Crochet, LHP: $166MM through 2031 (deal includes conditional $15MM club option for 2032; can opt out after 2030)
  • Roman Anthony, OF: $125MM through 2033 (deal includes $30MM club option for 2034)
  • Brayan Bello, RHP: $50.5MM through 2029 (includes $1MM buyout on $21MM club option for 2030)
  • Kristian Campbell, 2B/OF: $47MM through 2032 (includes $4MM buyout on $19MM club option for 2033, deal includes $21MM club option for 2034)
  • Ceddanne Rafaela, OF/2B: $46MM through 2031 (includes $4MM buyout on $16MM club option for 2032)
  • Masataka Yoshida, DH: $36MM through 2027
  • Jordan Hicks, RHP: $24MM through 2027
  • Aroldis Chapman, LHP: $13.3MM through 2026 (includes $300K buyout on $13MM vesting option for 2027)
  • Patrick Sandoval, LHP: $12.75MM through 2026
  • Garrett Whitlock, RHP: $8.25MM through 2026 (includes $1MM buyout on $8.25MM club option for 2027, deal includes $10.5MM club option for 2028)

Option Decisions:

  • Alex Bregman, 3B: Will opt out of $80MM through 2027 ($40MM deferred)
  • Trevor Story, SS: Can opt out of final $50MM through 2027. If opt out exercised, Red Sox can either void it by exercising $25MM club option or pay Story a $5MM buyout.
  • Lucas Giolito, RHP: $19MM mutual option with $1.5MM buyout.
  • Liam Hendriks, RHP: $12MM mutual option with $2MM buyout.
  • Jarren Duran, OF: $8MM club option with $100K buyout. Eligible for arbitration if option is declined.

Total 2026 commitments: $168.9MM
Total future commitments: $662.4MM

Arbitration-Eligible Players (service time in parentheses; salary projections via MLBTR contributor Matt Swartz)

Free Agents

Much of Boston's offseason will be dictated by the opt out decisions made by the left side of the club's infield. Alex Bregman is already expected to opt out of his contract and return to the open market, but it's not yet clear whether or not Trevor Story will follow in those footsteps. With no locked in starter at second base and chief baseball officer Craig Breslow unwilling to commit to Triston Casas at first base for next year, it's not impossible to imagine a scenario where the Red Sox are looking to reshape their entire infield as they look for defensive upgrades.

At the very least, they'll need to either re-sign or replace Bregman. Re-signing the veteran coming off his third career All-Star appearance may prove to be the most sensible course of action. While he'll be seeking a true long-term deal this winter as he heads into his age-32 campaign, it would be difficult to find the sort of production Bregman offers elsewhere. Just three third basemen (Jose Ramirez, Junior Caminero, and Isaac Paredes) posted a higher wRC+ than Bregman's 125 this year, and Fangraphs' Def metric pegs Bregman as the seventh-most valuable defensive third baseman in baseball this year despite a quad injury limiting him to just 114 games.

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Latest On Lucas Giolito

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Right-hander Lucas Giolito had a pretty good year with the Red Sox in 2025 but it ended on a frustrating note as he wasn’t included on Boston’s postseason roster due to an elbow injury. Even before the Sox were eliminated, manager Alex Cora said Giolito was most likely not going to be coming back this year. Today, Chris Cotillo of MassLive provided an update on the righty’s status. Giolito has been on a throwing program with one source telling Cotillo that Giolito is “100%” while another source said Giolito is “making improvements.”

Giolito’s status is noteworthy at this stage of the offseason as he is about to return to free agency. He originally signed with the Red Sox ahead of the 2024 season, a two-year deal worth $38.5MM. Giolito had a chance to opt out of that deal after 2024 but he ended up missing that entire season due to UCL surgery, so he naturally decided to stay with Boston for the second season.

By foregoing that opt-out chance, he gave the Red Sox a $14MM club option for 2026. However, he could convert that to a $19MM mutual option by pitching 140 frames in 2025. He got to 145 frames this year, successfully converting it. Mutual options are almost never picked up by both sides, with the last instance being more than a decade ago at this point. As such, Giolito will almost certainly get the $1.5MM buyout instead.

There’s a long winter ahead but Giolito’s health in the near term is important. As pointed out by Cotillo, the Sox have until five days after the World Series to decide whether or not to issue Giolito a qualifying offer, which is a one-year deal worth $22.025MM. That’s roughly what the Sox have been paying Giolito annually on his two-year deal, so it’s not a huge spike.

However, there are reasons why the Sox may not feel comfortable with continuing to pay Giolito a salary in that range. The obvious one is the elbow. It has been previously reported that Giolito has no UCL damage but does have flexor irritation and a bone issue. If the Sox felt that injury could linger into 2026, then they may prefer to walk away.

The other issue is Giolito’s performance. The Sox initially bought low on him. He was a borderline ace a few years ago, earning Cy Young votes in three straight years from 2019 to 2021. But his ERA spiked to just under 5.00 in both 2022 and 2023. Even in those poor seasons, he struck out more than 25% of batters faced. That was a drop from his peak, when he was striking out around 33% of opponents, but it was still above average.

In 2025, Giolito managed to finish strong in the ERA department but without getting his strikeouts back. He had a solid 3.41 ERA for the year overall. He had a rough 6.42 ERA through seven starts but then an excellent 2.51 ERA over his final 19 starts. However, even in that latter sample, he was only punching out 20.3% of opponents. For reference, the average strikeout rate for a starting pitcher in 2025 was 21.8%. That figure is probably inflated a bit by the use of openers, but Giolito’s rate is still fairly middling.

The other issue is that the reward for making a QO may be lesser than in the past. The Sox got the 75th overall pick in the 2025 draft when Nick Pivetta rejected a QO and signed with the Padres last offseason, but that was after a year in which the Sox did not pay the competitive balance tax. Both RosterResource and Cot’s Baseball Contracts estimate that the Sox went slightly over the tax line in 2025. Those are unofficial estimates, but if they are accurate, then the QO compensation pick would fall to after the fourth round of the draft if Giolito were to reject a QO and sign elsewhere.

Giolito likely would have started a playoff game for the Sox if he were healthy. He and Brayan Bello were the most established options behind ace Garrett Crochet. Instead, Bello and rookie Connelly Early made starts alongside Crochet. Cotillo suggests the Sox are quite happy with Giolito, including as a veteran clubhouse leader. Even with some concerning numbers and the lesser benefit from making the QO, perhaps they will do it anyway if they would be happy for him to accept. Though even if they like Giolito, they may not want to tie up $22.025MM of their budget just as the offseason is beginning, especially if Giolito’s elbow is still an issue.

A bit of progress in the next few days could increase Boston’s willingness to issue the QO. It may also increase his willingness to turn it down and explore the market. Even if they do offer it, he gets a couple of weeks to talk to other teams and gauge his market before making his decision on the QO. His market with non-Boston teams will depend both upon his health and whether or not he is attached to a QO.

Photo courtesy of Eric Canha, Imagn Images

Nationals Interview Chad Epperson In Managerial Search

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The Nationals have interviewed Red Sox’s Double-A manager Chad Epperson as part of their managerial search, reports Spencer Nusbaum of the Washington Post. He joins Brandon Hyde as the only known interviewees.

The Post’s Andrew Golden wrote this afternoon that the Nats have informed interim manager Miguel Cairo that he is no longer in the running. Golden reported that the Nationals were interested in speaking with former Twins skipper Rocco Baldelli and Dodgers bench coach Danny Lehmann, but it’s not known if either of them have formally interviewed.

Washington’s new president of baseball operations Paul Toboni was previously an assistant general manager with the Red Sox. He’s familiar with Epperson and evidently valued his work in the Boston organization. The 53-year-old Epperson has been with the Sox for over 20 years. He got his first affiliated managerial gig in Low-A back in 2004.

Epperson managed in A-ball for six seasons before becoming the organization’s minor league catching coordinator. He held that position for 12 years until returning to the dugout. Epperson has led the Sox’s Double-A team in Portland for the past four seasons. He also worked as a quality control coach with the Toros del Este in the Dominican Winter League over the 2024-25 offseason.

AL East Notes: Story, Flaherty, Lowe, Fairbanks

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MassLive.com’s Chris Cotillo and Sean McAdam touched on an assortment of Red Sox topics in the latest edition of their Fenway Rundown podcast, including a brief mention of Trevor Story’s status as the shortstop considers an opt-out clause in his contract.  Cotillo believes “the Red Sox are pretty cautiously very optimistic that” Story will be staying with the team, and while’s plenty of grey area within that statement, it does offer some indication that Story is leaning towards declining his opt-out.

Story is owed $25MM in each of the next two seasons, plus there’s a $5MM buyout on his $25MM club option for the 2028 campaign.  The Red Sox can override Story’s opt-out by guaranteeing that 2028 club option right now, but that doesn’t appear to be on the team’s radar, so the ball looks to be entirely in Story’s court.  While Story’s .263/.308/.433 slash line and 25 homers over 654 plate appearances only translates to a 101 wRC+, his numbers were weighed down by a cold start to the season, as Story posted an .825 OPS over his final 429 PA.

Between this strong finish and a thin free agent shortstop market, there’s a case for Story to leave his $55MM guaranteed on the table and look for a bigger contract this winter.  On the flip side, Story turns 33 next month, his defensive metrics were subpar, and the injury problems that plagued him in 2022-24 will be on the minds of front offices even though Story stayed pretty healthy in 2025.  If Story wants to avoid the risks of another prolonged stint in free agency, staying in Boston with a contending Red Sox team certainly seems like a viable choice.

More from around the AL East…

  • Earlier this month, Jon Heyman of the New York Post floated Cubs bench coach Ryan Flaherty as a logical candidate to be part of the Orioles’ managerial search.  MASNsports.com’s Roch Kubatko reports that Flaherty did indeed interview with the O’s about the position before the club opted to hire Guardians associate manager Craig Albernaz.  Any number of other names might’ve been considered by the Orioles, but Flaherty joins Albert Pujols, Luis Rojas, and Scott Servais as the candidates directly linked to Baltimore’s search whether in formal interviews or (in Servais’ case) just some interest on the club’s part.  Flaherty’s six seasons as an Orioles player likely held some extra appeal for Baltimore’s front office, but his well-regarded work as a bench coach in Chicago and San Diego has put him in the running for multiple managerial vacancies.  Flaherty is reportedly one of the finalists for the Twins’ job, and he is a candidate for both the Padres and Braves in their ongoing searches.
  • The Rays hold a pair of club options on Brandon Lowe ($11.5MM) and Pete Fairbanks ($11MM) for the 2026 season, and both players have expressed a desire to remain in Tampa.  Marc Topkin of the Tampa Bay Times explores the option decisions, noting that between the team’s offensive needs and how “the Rays typically view the bullpen as more changeable and volatile on a year-to-year basis,” Lowe seems more likely than Fairbanks to be part of the 2026 roster.  This doesn’t necessarily mean that Fairbanks’ option will be declined, however, as the Rays would then lose the closer for nothing in free agency.  Perhaps the most probable scenario is that Tampa Bay will pick up both options and then explore trade possibilities for either player — in Fairbanks’ case, his $11MM salary might not seem that onerous to some rival clubs in need of high-leverage bullpen help.

MLBTR Podcast: Bo Bichette’s Health, Kazuma Okamoto, And Dylan Cease’s Market

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The latest episode of the MLB Trade Rumors Podcast is now live on Spotify, Apple Podcasts, and wherever you get your podcasts! Make sure you subscribe as well! You can also use the player at this link to listen, if you don’t use Spotify or Apple for podcasts.

This week, host Darragh McDonald is joined by Steve Adams of MLB Trade Rumors to discuss…

Plus, we answer your questions, including…

  • If the Blue Jays were to extend Addison Barger, would the Lawrence Butler deal be a good comp? (40:35)
  • If a veteran signs a minor league deal, are they eligible to be taken in the Rule 5 draft? (44:50)
  • Will the Red Sox trade Jarren Duran? (46:25)

Check out our past episodes!

  • The Phillies’ Outfield, Tarik Skubal, And Hiring College Coaches – listen here
  • Murakami To Be Posted This Offseason, Managerial Vacancies, And More! – listen here
  • Rockies’ Front Office Changes, Skip Schumaker, And ABS Talk – listen here

The podcast intro and outro song “So Long” is provided courtesy of the band Showoff.  Check out their Facebook page here!

Photo courtesy of Dan Hamilton, Imagn Images

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