TODAY: The breakdown of Buehler’s deal is provided by MassLive.com’s Chris Cotillo (multiple links), who reports that the contract also contains a $25MM mutual option for the 2026 season. Buehler receives a $3.05MM signing bonus, $15MM in base salary, and then a $3MM buyout of the mutual option, totaling the aforementioned $21.05MM guarantee.
As much as $2.5MM in bonus money is also available. Buehler will unlock the first $500K of that cash when he makes his 20th start of the season, and he’ll earn another $500K upon making his 22nd, 24th, 26th, and 28th starts of the season.
DEC. 28: The Red Sox officially announced the Buehler signing.
DEC. 23: The Red Sox are in agreement with right-hander Walker Buehler on a one-year deal worth $21.05MM, according to a report from Russell Dorsey of Yahoo Sports. The deal is pending a physical and includes incentives that could raise the value beyond that aforementioned figure. Buehler is an Excel Sports Management client.
It’s an interesting deal for Buehler, as the $21.05MM guarantee perfectly mirrors that of the Qualifying Offer. Both Buehler himself and Red Sox right-hander Nick Pivetta were considered borderline candidates to be extended the QO at the outset of the winter. Ultimately, the Dodgers declined to extend that offer to Buehler while the Red Sox did so for Pivetta but were rebuffed. From a financial and roster perspective, today’s deal allows Buehler to secure the same guarantee he would’ve gotten had the Dodgers extended him the QO while allowing Boston to add a veteran right-hander to its young rotation on a one-year deal that mirrors what they offered Pivetta last month.
The 30-year-old right-hander was among the league’s most talented young starters during his rookie season back in 2018, and pitched to an excellent 2.82 ERA (146 ERA+) with a 3.16 FIP in a four-season stretch from 2018-21. That stretch concluded with Buehler finishing fourth in NL Cy Young award voting behind Corbin Burnes, Zack Wheeler, and Max Scherzer in a race that seemingly cemented his status as one of the league’s top aces. That career trajectory was thrown off the rails early in the 2022 season, however. Buehler pitched to a relatively pedestrian 4.02 ERA (101 ERA+) in 12 starts for the Dodgers that year before going on the injured list in June and ultimately requiring Tommy John surgery.
Buehler wouldn’t return to a major league mound until May of 2024, nearly two full years later, and struggled badly upon returning. Additional injuries limited Buehler to just 16 starts for the Dodgers this year, and even when he took the mound the right-hander struggled badly. In all, Buehler pitched to a 5.38 ERA (72 ERA+) with a 5.54 FIP in his final regular season in a Dodgers uniform. With that being said, the righty did manage to end his season on a positive note with a solid 3.60 ERA during the club’s run to the World Series championship this year. After a brutal start against the Padres in the NLDS, Buehler fired off ten scoreless frames between the NLCS and the World Series while striking out a third of his opponents.
That combination of a strong postseason, a terrible regular season, a fraught injury history, and a dominant track record made Buehler one of the most intriguing free agents on the market this winter and perhaps the ultimate high-risk, high-reward signing. To that end, it’s perhaps no surprise that he garnered interest from a huge number of teams. In addition to the Red Sox, Buehler also garnered interest from the Tigers, Cubs, Mets, Yankees, Athletics, and Braves this winter. That wide-ranging interest made it apparent early in the winter that Buehler was likely to surpass the one-year, $15MM deal MLBTR predicted he would land as part of our annual Top 50 MLB Free Agents list, where Buehler was ranked as the #37 free agent this winter. It even seemed to open the door to the possibility the right-hander would be able to land a mutli-year deal with opt-outs; while he ultimately settled for a straight one-year pact, his $21.05MM salary in 2025 is likely much healthier than what he would’ve received on an annual basis on a multi-year deal.
For the Red Sox, the addition of Buehler adds another arm with plenty of upside to a rotation already full of it. If Buehler manages to rebound to the form he showed earlier in his career, he’ll form a daunting front two in the Boston rotation alongside lefty Garrett Crochet with right-handers Lucas Giolito and Tanner Houck joining them to create a formidable quartet. The additions of Crochet and Buehler have also significantly deepened the group, as right-handers Brayan Bello, Kutter Crawford, Richard Fitts, and Cooper Criswell all figure to be in the conversation for starts as well after being key pieces of the club’s rotation last year. Further down the depth chart, the Red Sox also boast interesting upside plays Quinn Priester and Michael Fulmer.
The addition of Buehler brings the club’s payroll for 2025 up to just over $175MM, according to RosterResource. The figure is substantially higher for luxury tax purposes, however, sitting just under $212MM. That leaves the club with about $29MM to work with before they surpass the first luxury tax threshold. The Red Sox last surpassed that first threshold in 2022, but there’s been no indication from club brass that the first threshold represents a hard limit on their spending amid what has been a fairly busy offseason for the club. With the rotation seemingly solidified, it seems likely the club’s priorities will now shift towards adding a right-handed bat to their lineup, whether that comes in the form of an outfielder such as Teoscar Hernández or an infielder like Alex Bregman or Nolan Arenado.
