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Yankees Have Shown Interest In Nico Hoerner, Luis Robert Jr.

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At the start of the offseason, it felt inevitable that the Yankees and Cody Bellinger would reunite. That may still happen but it seems up in the air at the moment. Talks between the two sides have seemingly stalled out. Jon Heyman of The New York Post reports today that both sides have been exploring alternatives lately. Bellinger has interest from other clubs. Meanwhile, the Yankees have been touching base with free agents Bo Bichette and Kyle Tucker, who they have been connected to previously. They’ve also checked in on trade candidates Luis Robert Jr. of the White Sox and Nico Hoerner of the Cubs. The Yanks’ interest in Hoerner was first reported by Pat Ragazzo of SI.

Bellinger spent 2025 in the Bronx and it seemed to go well. He hit 29 home runs and slashed .27/.334/.480 for a wRC+ 125. He stole 13 bases and played all three outfield slots as well as first base. He appeared to be especially comfortable in Yankee Stadium, slashing .302/.365/.544 there. He opted out of the final season of his contract, taking a $5MM buyout and leaving a $25MM salary on the table. At the start of the offseason, MLBTR predicted Bellinger to have enough juice for a five-year, $140MM deal.

It was reported on New Year’s Day that the Yanks had made an offer to Bellinger. A few days later came reports of a second offer. No details of either offer were initially revealed but further reporting indicated the sides weren’t close to a deal. Subsequent reporting has put the Yankee offer at five years and over $30MM annually, putting the guarantee somewhere in the vicinity of $155MM. That hasn’t been enough to get a deal done with Bellinger hoping to get to seven years.

It seems the two sides have taken a break from the staredown to look elsewhere. Heyman says they continued talking over the weekend but each party is considering alternatives. Heyman mentions the Dodgers, Giants and Mets as clubs believed to have interest in Bellinger. Those clubs have all been tied to Bellinger via rumors earlier this winter but are imperfect fits. All three could use outfield help to varying degrees but they also appear to be trying to avoid long-term commitments at the moment.

Since the hold-up between the Yankees and Bellinger appears to be the length of their offer, it’s hard to envision any of these clubs outbidding the Yankees. Any of the three could perhaps change their stance to take advantage of this opportunity but it also could be more likely that those clubs would prefer to get Bellinger via another short-term, opt-out laden deal. It’s unclear if he would want to do that after going down that road a couple of years ago, but it presumably depends on where things go in the next few weeks.

The Blue Jays have also been connected to Bellinger this winter but it seems they are more focused on Bichette and Tucker with Bellinger perhaps a backup plan. The Cubs were also connected to their old friend Bellinger this winter but signing Alex Bregman is presumably their big splash of the winter.

For the Yankees, they could perhaps increase their offer but are also seeing what else is on the menu. With Hoerner, it’s unclear if the Cubs have any interest in trading him but he has been in rumors and it’s arguable they should consider it. Hoerner is a good player but is a free agent after 2026. With the Cubs recently signing Bregman, their infield is now a bit cluttered. Putting Bregman at third bumps Matt Shaw to the bench.

If they wanted to, the Cubs could trade Hoerner and then move Shaw to second base. That would declutter things a bit and also should bring back something of note. Hoerner’s $12MM salary this year is very affordable considering his production. He doesn’t hit a ton of home runs but rarely strikes out, relying on his contact, speed and defense to provide value. It’s a combination that works, as FanGraphs has credited him with 3.9 wins above replacement or more in each of the past four years.

It could also give the Cubs a bit more breathing room in terms of the competitive balance tax. The Cubs went narrowly above the CBT in 2024 but have otherwise stayed under the line in each season from 2021 to the present.

RosterResource currently estimates them for a CBT number of just over $243MM, putting them less than a million from this year’s line. A team’s CBT number isn’t calculated until the end of the year, so in-season moves can move a club up or down. If the Cubs want to avoid the tax in 2026, creating some space now could be something they consider to give them more ability to make moves at the deadline.

For the Yankees, Hoerner wouldn’t help replace Bellinger in the outfield but he should make the team better. Though he has largely been a second baseman for the Cubs, he is considered good enough to be a shortstop. He has just been on the other side of the bag in deference to Dansby Swanson.

The Yanks have an uncertain shortstop situation at present, hence their previous connection to Bichette. Anthony Volpe is coming off a down year and may not be ready for Opening Day 2026 as he recovers from shoulder surgery. José Caballero currently projects as the top shortstop for the early season, though he has mostly been a utility guy in his career. If the Yanks add a shortstop, then he could return to that role.

The thinking with signing Bichette had a couple of attractions. He could upgrade the shortstop position now, then second base in the future. Jazz Chisholm Jr. is currently the club’s second baseman but he is slated for free agency after the upcoming season. With the Yanks having shortstop prospect George Lombard Jr. waiting in the wings, Bichette could cover short for a year and then slide to the other side of the bag with either Lombard or a resurgent Volpe at short.

Hoener wouldn’t be quite the same acquisition, barring an extension, as he is only signed through 2026. Still, that would likely have appeal for the Yankees in a different way. They could upgrade the middle infield for now without making a huge commitment. After 2026, depending on how things go with Lombard, Volpe, Hoerner and Chisholm, they could then decide about how to invest in the middle infield for the long term.

They would, however, have to give the Cubs something of value in return. As mentioned, it’s unclear if the Cubs have any interest at all in flipping Hoerner. Even if they do, they would presumably be looking for some kind of win-now upgrade, likely on the pitching staff. With the Yanks looking for pitching help themselves, it may be challenging to line up a deal that makes sense for both sides.

As for Robert, he is surely available but also tricky to value. He has shown borderline MVP upside but is coming off two years marred by injuries and underperformance. In 2023, he hit 38 home runs and stole 20 bases, slashed .264/.315/.542 and got strong grades for his center field defense. But since then, he has made a number of trips to the injured list while slashing .223/.288/.372 for a wRC+ of 84.

The White Sox are rebuilding and will surely trade Robert but are seemingly hoping to trade him at peak value. He wasn’t moved in 2025 even though it was the final guaranteed year of his contract. They picked up a $20MM option for 2026. Teams like the Yankees and others might want to buy low but the Sox are likely motivated to wait. After his down year, it would make sense to hold him until the deadline, with the hope of him getting back in form and therefore increasing his trade value.

The Yankee outfield currently projects to include Aaron Judge and Trent Grisham in two spots. If the season started today, Jasson Domínguez and Spencer Jones would battle for a third. Domínguez is coming off a rough year in 2025, with an average bat and poor defense. Jones hit 35 home runs in the minors last year but also struck out 35.4% of the time, creating some doubt about how viable his bat will be in the majors.

Acquiring Hoerner wouldn’t do much to change that picture but perhaps the Yanks would be more comfortable with the uncertainty of the Domínguez/Jones combo with a stronger infield. Bringing back Bellinger, signing Tucker or acquiring Robert would strengthen the outfield group, bumping Domínguez to more of a part-time role and keeping Jones in Triple-A.

There are many moving pieces here as the offseason moves into the final weeks before pitchers and catchers report to spring training. Tucker, Bichette and Bellinger are the top position players still out there, with a lot of overlapping interest. The Jays are seemingly in on all three, considered by some to be the favorites for Tucker but a Bichette reunion also makes sense. Like Bellinger, Bichette is considering other options. He is meeting with the Phillies today, although that is a bit complicated, as Philadelphia would seemingly have to move on from both J.T. Realmuto and Alec Bohm to fit Bichette onto the roster and into the budget. The Red Sox just missed on Bregman and could turn to Bichette but they don’t seem too keen on big long-term investments. The Dodgers, Giants and Mets may be looking to get opportunistic if a nice short-term opportunity becomes possible.

It’s a bit of a game of musical chairs with the Yankees and Bellinger some of the key participants. Bregman just found a seat in Chicago but others will have to sit soon. Pitchers and catchers report to spring training in about a month, so the music is slowing down.

Photo courtesy of Sergio Estrada, Imagn Images

Yankees, Cody Bellinger “At An Impasse” In Negotiations

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The Yankees’ attempt to reunite with free agent Cody Bellinger seems to have hit a wall. ESPN’s Buster Olney reports the two sides are “at an impasse.” New York is moving forward as if Bellinger is signing with another team and will look to make additions elsewhere, adds Olney.

Brendan Kuty of The Athletic reported on Thursday that the Yankees had an offer in to Bellinger for more than $30MM a year. Olney reiterated that figure, while also mentioning that the proposal on the table was for five years. Bellinger and his team (he’s a Boras Corporation client) have been pursuing a deal for seven years, while reports had New York preferring something in the four-to-five range.

A contract of five years at more than $30MM per season would be right in line with the deals inked by the top free agent bats this offseason. Pete Alonso got five years and $155MM from Baltimore. Kyle Schwarber returned to Philadelphia on a five-year, $150MM deal. The length of New York’s most recent reported offer would be an obvious sticking point for Bellinger’s camp, given their known preferences, but Olney added that they’re also looking to do better than the $30MM AAV.

Bellinger seemed to be New York’s main priority this offseason. Kyle Tucker is the premier hitter on the market, but reports suggested he was the Yankees’ backup plan to Bellinger. The club was only recently linked to Bo Bichette and has not been significantly connected to Alex Bregman.

The now 30-year-old Bellinger excelled in his lone season in the Bronx. He slashed .272/.334/.480 with 29 home runs across 152 games. Bellinger made the most of the friendly confines of Yankee Stadium, hitting .302 with 18 home runs at home. His OPS slipped by nearly 200 points on the road.

The Cubs were the most recent team to join the lengthy list of Bellinger suitors. The Dodgers, Giants, Mets, Angels, Blue Jays, and Phillies have all been connected to the free agent outfielder at various points this offseason. A return to Chicago would be fitting after the club twice gave Bellinger a home when the market went cold on him.

After the Dodgers cut ties with the 2019 NL MVP, the Cubs added him on a one-year, $17.5MM pact for 2023. Bellinger hit a career-high .307 and posted a 135 wRC+ in his first year in Chicago, but it wasn’t enough to garner a long-term deal from other teams the following offseason. The Cubs brought him back late in the winter on an opt-out-laden three-year deal. The club would ship him to the Yankees after just a season in what amounted to a salary dump, so maybe it isn’t a perfect homecoming.

Photo courtesy of Brad Penner, Imagn Images

Latest On Yankees’ Pitching Search

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The Yankees were known to be one of the teams talking with the Marlins about a possible Edward Cabrera trade, but with Cabrera now in a Cubs uniform, the New York Post’s Joel Sherman reports that the Bronx Bombers are looking elsewhere for rotation help.  The NY Post’s Jon Heyman reiterates that the Yankees continue to have trade interest in the Brewers’ Freddy Peralta and the Nationals’ MacKenzie Gore, and the chances of a Tarik Skubal trade with the Tigers seems remote due to Detroit’s huge asking price.

As per offseason norms, the Yankees have been routinely connected to several major players on the free agent and trade markets, though the club has yet to swing a big transaction.  New York did bolster its pitching depth by re-signing Ryan Yarbrough and Paul Blackburn, but those aren’t the types of arms that would provide the certainty or the upside of a true front-of-the-rotation arm.

Sherman outlines the situation facing the Yankees’ rotation, as technically the team has enough starters between Max Fried, Luis Gil, Cam Schlittler, Will Warren, and Yarbrough to cover innings until Carlos Rodon is back from elbow surgery (in late April or early May), and Gerrit Cole and Clarke Schmidt are back from Tommy John surgery.  Of course, any injuries to the healthy pitchers or setbacks for the injured pitchers could throw this entire plan awry, and Schmidt’s availability for any of the 2026 season isn’t a sure thing since he underwent his TJ procedure last July.

Bringing in not just a depth starter, but a pitcher that could conceivably start a playoff game would naturally be a nice boost to the rotation picture.  Such an addition provides cover against not just injuries, but (as Sherman notes) the possibility that Schlittler might struggle in his first full Major League season, or that Fried might feel some wear after a career-high 195 1/3 innings pitched in 2025.

Interestingly, almost all of the starting pitchers linked to the Yankees on the hot stove this offseason have been trade targets, rather than free agents.  Given how Cody Bellinger seemingly remains New York’s top overall priority, it would seem like the Yankees are allocating their free agent dollars in that direction….or perhaps towards another top-tier option like Bo Bichette if a deal can’t be reached with Bellinger.

While the Yankees were reportedly interested in Tatsuya Imai earlier this winter, Heyman writes that the team was looking at Imai more as a reliever than as a starting pitcher.  As such, the Yankees didn’t make Imai an offer, since presumably the bidding got beyond New York’s comfort range for a relief pitcher.  Imai’s market ended up being narrower than initially thought, and the righty ended up signing with the Astros on a three-year, $54MM deal that includes opt-outs after each of the first two seasons.

Heyman also provides some details on the Cabrera negotiations, as such New York prospects as right-hander Ben Hess and outfielder Dillon Lewis were mentioned, along with “a third lower-level prospect.”  It isn’t specified if these three players were all included in one offer to Miami, but the Marlins instead opted for the Cubs’ three-prospect mix of Owen Caissie, Cristian Hernandez and Edgardo De Leon.  The highly-regarded Caissie is the highest-ranked prospect of the group and he has already made his MLB debut, so he could be in Miami’s outfield as soon as Opening Day.  It is easy to see why the hitting-needy Marlins might’ve preferred Chicago’s offer, especially since the Yankees weren’t willing to include their own top hitting prospect in George Lombard Jr.

In what might be an interesting tidbit to file away for any future Yankees/Marlins trade talks, Heyman writes that “Miami loves the super talented Lewis,” a 13th-round pick in the 2024 draft who finished his first full season of pro ball at high-A Hudson Valley.  Baseball America ranks Lewis as the eighth-best prospect in New York’s farm system, with Hess clocking in fifth place.

Yankees Claim Kaleb Ort

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The Yankees announced that they have claimed right-hander Kaleb Ort off waivers from the Astros. The move was reported by Yankees Never Win prior to the official announcement. Houston recently designated Ort for assignment when they signed Tatsuya Imai. The Yanks had multiple 40-man vacancies and don’t need to make a corresponding move.

Ort, 34 in February, has pitched for the Red Sox and Astros over the past five seasons. He has shown some intriguing stuff but without fully harnessing it for good results. He averages in the upper 90s with his four-seamer while also throwing a cutter, slider and changeup.

Through the end of the 2023 season, he had thrown 51 2/3 innings for the Red Sox with a 6.27 earned run average. Boston put him on waivers in October of 2023 and he bounced around the league that winter, going to the Mariners, Marlins, Phillies and Orioles via waivers or cash deals. Baltimore kept him on optional assignment early in 2024, exhausting Ort’s final option year in the process. They put him in waivers in May of that year, which is when the Astros grabbed him.

He had his best run of major league success with the Astros. After that claim, he gave Houston 22 innings with a 2.55 ERA, 28% strikeout rate and 4.3% walk rate. That impressed the Astros enough that Ort held a roster spot through 2025 despite being out of options, but he couldn’t keep the results at that level. He tossed 46 innings last year with a 4.89 ERA. His 25.3% strikeout rate was still good but he gave out free passes at a 13.9% clip. He spent most of September on the injured list due to right elbow inflammation.

For the Yankees, there’s no real harm in a waiver claim for now. As mentioned, they had multiple open roster spots. Ort still doesn’t have enough service time to have qualified for arbitration. They can bring him into camp to compete for a bullpen spot.

It’s also possible they put him back on waivers later, after they make more moves and fill out the roster. If he were to pass through waivers unclaimed, they could keep him in a non-roster capacity. Ort doesn’t have a previous career outright and is shy of three years of service time, meaning he doesn’t have the right to reject an outright assignment in favor of free agency.

Photo courtesy of Thomas Shea, Imagn Images

Yankees’ Offer To Bellinger Reportedly Above $30MM AAV

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The Yankees have made multiple offers to Cody Bellinger in recent weeks. Brendan Kuty of The Athletic reports that the most recent had an average annual value north of $30MM. However, the sides are still held up on contract length.

Kuty writes that Bellinger’s camp continues to push for a seven-year contract. It’s not known how many years the Yankees are willing to go, but it has thus far apparently been less than seven. Jon Morosi of The MLB Network suggested earlier this week that the team was more comfortable with a four- or five-year commitment.

The rumored proposal from New York would put Bellinger in the range of the most expensive bats to sign this offseason, at least on an annual basis. Kyle Schwarber re-signed with the Phillies for five years and $150MM. Pete Alonso received a five-year, $155MM deal from Baltimore. If the Yankees get their wish regarding the contract length, Bellinger’s deal likely ends up looking a lot like the Schwarber and Alonso pacts. MLB Trade Rumors settled on a five-year, $140MM contract in our list of the top 50 free agents.

As Kuty notes, a contract exceeding $30MM a year would make Bellinger one of the highest-paid outfielders in the league. Juan Soto, Aaron Judge, Mike Trout, and Mookie Betts (if he still counts) are the only outfielders making more than $30MM per season. It would also be a significant jump from his recent contracts, as the market has treated him with trepidation in previous years.

After the Dodgers moved on from Bellinger following the 2022 season, the Cubs scooped him up on a one-year, $17.5MM deal. Bellinger rewarded Chicago with a 20/20 campaign, but it wasn’t enough to land a long-term contract. He ended up back with the Cubs on a three-year, $80MM deal with opt-outs after each season. Bellinger didn’t opt out after a middling 2024 and was then traded to New York. The Yankees were able to land him just by sending over Cody Poteet and agreeing to pay all but $5MM left on Bellinger’s contract.

Bellinger unsurprisingly opted out of the final year of his deal after a strong season in New York. Regardless of where he ends up, he should be able to top the $25MM he was slated to make in 2026. Bellinger slugged 29 home runs last year, the most since his NL MVP campaign in 2019. He added 13 steals and nearly drove in 100 runs. Bellinger also provided stellar defense, with both Defensive Runs Saved (+11) and Outs Above Average (+7) praising his work in the field. Bellinger logged 300+ innings at all three outfield positions. He also made a handful of appearances at first base. The Yankees didn’t need his services in the infield with Paul Goldschmidt on board, but he could be an asset there if needed.

In addition to the considerable counting stats, Bellinger also made some improvements under the hood in 2025. He bumped his hard-hit rate to 37.9%. That mark is just above league average, but it’s a big improvement from recent seasons. Bellinger’s 31.4% hard-hit rate in 2023 was among the reasons he failed to secure a long-term deal after his first year with the Cubs. While he hit .307 that season, it was likely fueled by a career-high .319 BABIP. His xBA (.268) was nearly 40 points lower than his actual mark. Bellinger’s hard-hit rate improved to a still-underwhelming 32.9% in 2024, while his bat speed slipped to 69 mph, which ranked in the 13th percentile.

Bellinger also made more contact this past season. His 13.7% strikeout rate was the best mark of his career, as was his 7.6% swinging-strike rate. Bellinger ranked 26th among all qualified hitters with a 91% zone contact rate. He’d only been above 87% once in his career before 2025. Average batted ball metrics combined with elite contact skills could portend continued success for the 30-year-old Bellinger, particularly if he stays in New York. He slashed an uninspiring .241/.301/.414 on the road last year.

Yankees Avoid Arbitration With Jazz Chisholm Jr.

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The Yankees announced they’ve reached an agreement with infielder Jazz Chisholm Jr. for the 2026 season. It’s a one-year, $10.2MM deal, reports Jack Curry of the YES Network. Chisholm is a client of Roc Nation Sports.

New York settled all eight of its remaining arbitration cases today. Chisholm was the only one to crack eight figures, though closer David Bednar ($9MM) wasn’t far behind. MLBTR contributor Matt Swartz nailed both numbers. The 27-year-old Chisholm is in his final year of arbitration and will head to free agency next offseason.

Chisholm put together a massive 30/30 campaign in his first full season in pinstripes. He struck out at an above-average clip, but also pushed his walk rate to a career-best 10.9%. Chisholm’s 126 wRC+ was his best mark since the 134 he posted in an abbreviated 2022 season, when a back injury limited him to 60 games. Health issues hindered Chisholm for much of his tenure in Miami. That hasn’t been the case in New York. Aside from a minimum IL stint in 2024 and a one-month absence this past year, Chisholm has been a fixture in the Yankees’ lineup. He’s played at least 130 games in back-to-back seasons.

After making the move to third base when he first joined the team, Chisholm was locked in at second base after New York traded for Ryan McMahon. He should reprise that role in 2026, assuming he’s still on the team. Rival clubs have checked in with the Yankees about Chisholm. The pending free agent is interested in a contract extension, but New York hasn’t been as keen on the idea. There’s been no indication that the Yankees are actually considering trading Chisholm. He’s more than likely going to be back in the middle of a formidable New York lineup next year.

Photo courtesy of Vincent Carchietta, Imagn Images

Latest On Yankees, Cody Bellinger

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The biggest offseason question for the Yankees has been whether they’ll re-sign Cody Bellinger. General manager Brian Cashman is on record about the club’s interest in doing so, and they’ve reportedly made at least two formal contract offers.

It doesn’t appear that Bellinger is on the verge of accepting a deal, however. Brendan Kuty of The Athletic wrote this morning that the sides don’t seem close to an agreement, though talks are continuing. Contract length could be a holdup. Kuty wrote that Bellinger and his representatives at the Boras Corporation were likely looking for a six- or seven-year contract. In an MLB Network appearance, Jon Morosi also suggested that Bellinger continued to seek a deal in the seven-year range. Morosi added that the Yankees unsurprisingly preferred a four- or five-year commitment.

Most external projections forecast a five- or six-year deal. MLBTR predicted a five-year, $140MM contract at the beginning of the offseason. Bellinger is headed into his age-30 season. There’s precedent for players commanding seven-plus years at that age, but the most recent free agent hitter to do so was Brandon Nimmo in 2022. There hasn’t even been a six-year contract for a free agent bat in his 30s since the Nimmo deal, but Alex Bregman (who was a year older at the time) rejected a six-year offer from the Tigers last winter.

Bellinger is coming off a fantastic first season in the Bronx. He hit .272/.334/.480 with 29 home runs across 656 plate appearances. He cut his already low strikeout rate to a personal-best 13.7% clip. Bellinger’s bat speed and exit velocities — which prevented him from commanding a long-term contract two years ago — remain middling. His left-handed bat was perfectly suited to Yankee Stadium, where he hit .302/.365/.544 with 18 of his home runs. His .241/.301/.414 batting line on the road is essentially league average.

While that wouldn’t be much of an issue for the Yankees, they may feel that’ll give other teams pause. We’re only a year removed from Bellinger having essentially no trade value when he was signed for two years and $52.5MM. New York acquired him from the Cubs for journeyman pitcher Cody Poteet, whom Chicago cut at the end of Spring Training. The only cost for the Yankees was taking on all but $5MM on Bellinger’s deal. Trade talks were complicated by an opt-out clause in his contract, but it’s notable that teams weren’t eager to sign up for even two years at $25MM annually last offseason. A six-plus year commitment at a similar annual value is a significant ask.

Do teams other than the Yankees feel Bellinger is a dramatically different player than he was a year ago? His camp will surely argue that his success in New York — on top of his previous work in big markets in Los Angeles and Chicago — should move the needle. Bellinger also isn’t attached to draft compensation, as he was in 2023 when he declined a qualifying offer from the Cubs.

His results have outpaced his more middling batted ball metrics in three consecutive seasons. Bellinger is never going to recapture the ferocious power he had before he injured his right shoulder during the 2020 postseason. He has reinvented himself as an elite contact bat, and while his home/road splits aren’t encouraging, his platoon numbers are more impressive.

Bellinger is a .329/.371/.546 hitter against left-handed pitching over the past three seasons. Among lefty hitters with 250+ plate appearances in that time, only Yordan Alvarez has a superior slugging mark. Bellinger trails only Alvarez and Juan Soto in on-base percentage. Teams can comfortably pencil Bellinger in as an everyday player in either corner outfield spot, and he’s an option for at least semi-regular center field work.

Dodgers, Braves Among Teams To Show Interest In Freddy Peralta

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Though the Brewers have continually downplayed the possibility of actually trading him, ace right-hander Freddy Peralta continues to draw a wide array of interest. Ken Rosenthal and Will Sammon of The Athletic include the Dodgers and Braves among a list of teams to inquire with the Brewers, joining a group of previously reported clubs that includes the Yankees, Mets and Red Sox. All of those clubs are still believed to have interest in the righty.

Peralta’s appeal is obvious. He’s a durable 29-year-old righty with a 3.30 ERA over his past five seasons, including a career-low 2.70 earned run average this past season (albeit with rate stats and fielding-independent marks that suggest it’s more reasonable to expect a low-3.00s ERA than another sub-3.00 mark). Peralta averages nearly 95 mph on his heater, misses bats at a high level, has only slightly worse-than-average command and, crucially, is earning just $8MM next season. That’s his final year before free agency, but even as a one-year rental, a team surrendering young talent to acquire Peralta would know that he’ll likely net a 2027 draft pick, as he’s a virtual lock to receive and reject a qualifying offer.

For luxury-paying clubs, Peralta’s modest salary is particularly enticing. That’s all the truer for teams like the Yankees, Mets and Dodgers, who figure to be in the top penalty tier for at least a third consecutive season. Those clubs are effectively paying double for any subsequent additions to the payroll. The Dodgers are already in the top tax bracket and thus would pay a 110% tax on any new additions to the payroll. The two New York clubs are just shy of the top tax bracket, but even while sitting in the third penalty tier, they’d be subject to a 95% tax. And both are close enough to the fourth-tier threshold that Peralta would put them right up against it or push them over.

For the Braves and Red Sox, the penalties would be far less severe. Atlanta didn’t pay the tax at all last year and is currently in the first penalty tier. They’d receive only a 20% ($1.6MM) slap on the wrist for adding Peralta’s salary to the ledger. The Red Sox would be crossing the tax line for just the second straight season, as they were under the threshold in 2024. They’re currently about $3MM shy of the tax cutoff, per RosterResource. As a second-time offender they’d pay a 30% tax on the first $20MM by which they exceed the limit. For Peralta, that’d be only a hair over $1.5MM.

In terms of roster fit, it’s pretty easy to see how Peralta would fit onto any of the listed clubs. Atlanta currently has Chris Sale, Spencer Strider, Spencer Schwellenbach, Reynaldo Lopez and Hurston Waldrep lined up as its likely top five. Each of Sale, Strider, Schwellenbach and Lopez missed time with injuries in 2025. Lopez started only one game. Sale missed more than two months with fractures in his ribcage. Schwellenbach’s season ended in late June when he suffered a fracture in his right elbow. Strider posted a 4.45 ERA in his first season back from UCL surgery. Waldrep was impressive as a rookie but tossed only 56 1/3 innings in the majors.

The Dodgers certainly don’t “need” more starting pitching, but the old “no such thing as too much pitching” adage applies to veritably any club. Adding Peralta would be about further deepening the club’s October options. Yoshinobu Yamamoto, Blake Snell, Shohei Ohtani, Tyler Glasnow, Roki Sasaki, Emmet Sheehan and Justin Wrobleski give the Dodgers an embarrassment of riches, and high-upside younger arms like River Ryan, Gavin Stone and Kyle Hurt are all on the mend from 2024 surgeries. Top prospect Jackson Ferris isn’t far from MLB readiness. It’s a deep group, but the Dodgers probably don’t want to simply presume that all of their more established arms will be healthy for the postseason. Bringing in another top-tier arm to join the group would further bolster their choices as they pursue an elusive threepeat.

The Yankees have yet to make an addition to the big league roster, beyond re-signing Ryan Yarbrough on a cheap one-year deal and selecting righty Cade Winquest from the Cardinals in the Rule 5 Draft. With Carlos Rodon, Gerrit Cole and Clarke Schmidt all ticketed to open the season on the injured list, they could use some rotation help. The Mets, meanwhile, have subtracted more big names than they’ve added this winter. President of baseball ops David Stearns knows Peralta well from his Milwaukee days. The current Mets rotation is heavily reliant on rebounds from Kodai Senga and Sean Manaea as well as notable steps forward from prospects like Jonah Tong and Brandon Sproat. The Red Sox have added Sonny Gray and Johan Oviedo to what was already a pretty deep mix, but Peralta would be a clearer No. 2 option behind ace Garrett Crochet than Gray or right-hander Brayan Bello.

Other teams have surely shown interest in Peralta. Earlier in the offseason, it was reported that the Astros had looked into him, but they’ve since added Mike Burrows in a trade and Tatsuya Imai in free agency. The Orioles have shown interest as well, though Baltimore acquired Shane Baz and re-signed Zach Eflin, at least reducing some urgency. (Peralta would still be a notable and needed upgrade to the top end of the staff.) The Athletic’s report notes that some lower-payroll clubs are also looking into Peralta, given that his $8MM price point is affordable for any team.

Broadly speaking, it stands to reason that any 2026 postseason hopeful in the sport has probably at least gauged the asking price on Peralta. Rosenthal and Sammon suggest that a major league-ready starting pitcher is very likely to be a starting point in any talks regarding Peralta. Milwaukee won an MLB-best 97 games in 2025 and is seen as a favorite in the NL Central as a result. The Brewers know they could also get a compensatory pick in the 2027 draft if and when Peralta departs via free agency. They’re a revenue sharing recipient who doesn’t pay the luxury tax, so that pick would come at the end of the first round. That establishes a pretty reasonable base line that needs to be exceeded in any trade talks, and targeting MLB-ready help for a win-now club is only natural.

A Peralta trade shouldn’t be seen as likely. Milwaukee brass has publicly downplayed the possibility, but the Brewers will never fully close themselves off to trades of any notable stars as they approach free agency. Milwaukee traded Corbin Burnes, Devin Williams and Josh Hader near the end of their original windows of club control, after all. However, the Brewers also held onto Willy Adames for the 2024 season, knowing he’d likely reject a qualifying offer and depart via free agency, which is precisely how things played out. Keeping Peralta would give Milwaukee a deep and talented rotation, as he’d be joined by Brandon Woodruff, Jacob Misiorowski, Quinn Priester and Chad Patrick, with depth options including Logan Henderson, Tobias Myers and former top prospect Robert Gasser, who’ll be returning from Tommy John surgery.

Giants, Yankees, Mets, Cubs Interested In Edward Cabrera

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9:55PM: The Giants are “also believed [to be] interested” in Cabrera, Jon Heyman of the New York Post writes. San Francisco has already signed Tyler Mahle and Adrian Houser to join Logan Webb, Robbie Ray and Landen Roupp in the rotation, but a more controllable pitcher like Cabrera would be useful since Ray and Mahle will be free agents next winter. Beyond that starting five, the Giants have several younger arms but not a lot of experience, and conceivably one or two of these pitchers could be moved to Miami in a hypothetical Cabrera trade package.

12:54PM: The Yankees are discussing the possibility of a trade for right-hander Edward Cabrera with the Marlins, according to a report from Chris Kirschner and Ken Rosenthal of The Athletic. The report also adds that the Yankees remain involved in the market for Brewers right-hander Freddy Peralta after their involvement was first reported at the Winter Meetings last month. Meanwhile, Barry Jackson of the Miami Herald reports that the Mets and Cubs have also shown interest in Cabrera.

Cabrera, 27, is an exciting young arm with considerable upside. The righty enjoyed a breakout season last year with Miami, pitching to a 3.53 ERA with a 3.83 FIP in 137 innings of work across 26 starts. That’s decent mid-rotation production already, but what makes Cabrera an especially enticing trade candidate is the possibility he’ll take a step forward in the future. The youngster averaged a career-best 97.0 mph on his fastball this past season despite throwing a career-high in terms of innings, and paired a strong 25.8% strikeout rate with a career-best 8.3% walk rate.

With a solid 47.9% ground ball rate for his career in addition to those strong strikeout and walk numbers, it’s not hard to imagine Cabrera building on his 2025 season to emerge as a dominant starter. The righty is also controlled through the end of the 2028 season, meaning that an acquiring club would have plenty of time to work with him before he reaches free agency.

Of course, that’s not to say there aren’t causes for concern. 2025 was the first year Cabrera crossed the 100 inning threshold at the big league level due to an assortment of injury woes. The most significant of were shoulder problems that limited him in both 2023 and ’24, but even last season saw Cabrera make two trips to the injured list. His second trip to the shelf, which occurred back in September, saw him sidelined due to a right elbow sprain. Elbow injuries are always worrisome for pitchers given that UCL injuries wipe out at least a year of a pitcher’s career when they require surgery, though it’s worth noting that Cabrera still struck out 26.3% of his opponents over his final two starts of the season after he returned from the shelf.

The Yankees, for their part, are seeking at least one starter to add to their rotation with both Gerrit Cole and Carlos Rodon poised to start the season on the injured list, while Clarke Schmidt figures to miss most if not all of the 2026 campaign. Max Fried, Luis Gil, Cam Schlittler, and Will Warren all figure to be part of the Opening Day rotation at this point, but additional injuries could crop up and it makes plenty of sense for the Yankees to add another starter to the mix ahead of depth options like Paul Blackburn and Ryan Yarbrough.

Cabrera could be a particularly appealing addition for New York given that MLBTR contributor Matt Swartz projects him to earn just $3.7MM in arbitration this year. While the Yankees certainly have the budget to afford someone pricier, their primary focus seems to be retaining Cody Bellinger at this point and it’s unclear if the team has the stomach for a second nine-figure deal on top of the one Bellinger is reportedly seeking. That would leave bids of players like Ranger Suarez and Framber Valdez unrealistic, and Cabrera projects to be better than most other starters in free agency at this point.

That affordability also figures to be attractive to the Cubs, who have long been known to be searching for a player to add to the front of their rotation this winter. The club appeared to finish second in the Tatsuya Imai sweepstakes behind the Astros earlier this week, so it’s possible that missing out on Imai could spur the team to more aggressively pursue Cabrera or other starting pitcher.

Cabrera’s affordable salary would be particularly attractive for the Cubs given their reported interest in the infield market. They’ve been connected to each of Kazuma Okamoto, Alex Bregman, Eugenio Suarez, and Bo Bichette on one level or another throughout the offseason, and while Okamoto is off the market the other three remain available. Swinging a deal for Cabrera could allow the Cubs to sign one of those big bats without going over the luxury tax, something they’ve been loath to do in recent years, and that signing of an infielder could lessen the blow to the team’s offense a trade for Cabrera might create.

As for the Mets, the team has made adding to the front-of-their-rotation a stated priority as well but so far have been focused on reworking their position player mix and bullpen. Pete Alonso and Edwin Diaz both walked in free agency, while Jorge Polanco, Devin Williams, and Luke Weaver have signed to help make up for those losses. Meanwhile, they’ve shipped out Brandon Nimmo and Jeff McNeil while bringing Marcus Semien into the fold via the trade market.

All that maneuvering has left the starting rotation virtually untouched, and the Mets have made clear that they’re willing to deal from their collection of young infield talent (including Ronny Mauricio, Mark Vientos, and Luisangel Acuna) this winter as they look to improve the rest of their roster. They also have plenty of young pitching of their own, which could be attractive to the Marlins as a way to keep their deep rotation well-stocked with talent even after dealing Cabrera.

Yankees Sign Adam Kloffenstein, Payton Henry To Minors Contracts

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The Yankees signed right-hander Adam Kloffenstein and catcher Payton Henry to minor league contracts in December, according to the club’s official transactions page.  7 News Boston’s Ari Alexander writes that Kloffenstein’s deal includes an invitation to New York’s big league spring camp.

Kloffenstein’s MLB resume consists of one perfect inning of relief work for the Cardinals in their 6-5 win over the Giants on June 20, 2024.  He was sent back to Triple-A the next day, and some shoulder problems likely prevented another call-up to the active roster.  St. Louis non-tendered Kloffenstein after the season and he inked a minors deal with the Blue Jays — the team that began the righty’s pro career as a third-round pick in the 2018 draft.

This return to the Jays organization didn’t go well, as Kloffenstein was tagged for 20 homers over 82 innings with Triple-A Buffalo while posting a 6.26 ERA and 11.7% walk rate.  He also spent the first two months of the season on the injured list, Kloffenstein elected minor league free agency at season’s end, and he’ll now head to the Yankees to try and get his career on track.

Kloffenstein has a 5.01 ERA, 21.57% strikeout rate, and 11.55% walk rate over 210 1/3 Triple-A innings, starting 41 of his 45 Triple-A games.  He also had a 4.63 ERA over 175 Double-A frames, further impeding his status as a starting pitching prospect on the Jays’ and Cardinals’ minor league ladders.  Still only 25 years old, there’s plenty of time for Kloffenstein to figure things out, and the Yankees pitching development department has had quite a bit of success helping unheralded or struggling pitchers unlock something on the mound.

Henry also has a limited amount of big league experience, as he hasn’t been back to the Show since appearing in 20 games with the Marlins in 2021-22.  Traded to Milwaukee during the 2022-23 offseason, Henry has spent the last three years in the minors with the Brewers, Blue Jays, and Phillies without getting into another MLB game.  In 2024, Henry was limited to 27 games with Triple-A Buffalo after he was struck in the head by an opposing hitter’s backswing, and spent a three-month stint on the IL.

Henry has a .261/.329/.414 slash line over 862 Triple-A plate appearances, plus a .523 OPS over 51 PA in the majors.  Regarded as a solid defensive catcher, Henry will join Ali Sanchez as minor league signings providing some competition in camp and potentially acting as Triple-A depth during the season.  New York is pretty set behind the plate with Austin Wells, J.C. Escarra, and Ben Rice all on the MLB roster, and though Rice will primarily be used as a first baseman, Henry and Sanchez face a narrow path for much playing time in the Bronx.

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