Will The Angels Make A Late Offseason Splash?

It’s been a relatively quiet offseason for the Angels and they are currently slated to open 2026 with a notably lower payroll than last year. What’s unclear is if they plan to use that difference to make a move before the season starts or if they’re simply cutting costs.

The Halos began the offseason with some initial savings. A number of players hit free agency, taking some money off the books. 2025 was the last year of Tyler Anderson’s three-year, $39MM deal, which paid him $13MM annually. Kenley Jansen’s $10MM one-year deal ran its course, among others.

Some of the savings were going to be undercut by an arbitration raise for Taylor Ward. He made $7.825MM in 2025 and was projected to almost double that, with MLBTR contributor Matt Swartz projecting him for a jump to $13.7MM in 2026. The Halos quickly avoided that by flipping Ward to the Orioles in mid-November, just a couple of weeks into the offseason. In return, they received Grayson Rodriguez, a former top pitching prospect who has struggled to stay healthy. Since Rodriguez has not yet reached arbitration, they essentially wiped Ward’s entire projected salary from the 2026 payroll.

Not long after that, in late November, it was reported that the Angels were trying to work out some kind of financial arrangement with Anthony Rendon. The frequently-injured third baseman was set to be paid $38MM in 2026, the final year of his ill-fated seven-year, $245MM deal. It took a few months to get everything worked out but the two sides eventually agreed to pay the money over five years in even instalments. The Halos will pay Rendon $7.6MM this year instead of $38MM. That’ll cost them more in future seasons but free up more than $30MM for the short term.

That led to some optimism that the club was clearing the deck for something bold, but that hasn’t come to fruition. The Angels have given big league deals to six free agents, all one-year pacts, none of them worth more than $5MM. Brent Suter got $1.25MM, Jordan Romano and Alek Manoah $2MM each, Drew Pomeranz and Yoán Moncada $4MM apiece, and Kirby Yates $5MM. Put together, those six deals add up to $18.25MM.

Taking everything into consideration, where does that leave the Angels? RosterResource projects them for a payroll of $181MM, though that includes Rendon’s full $38MM salary. They opened last year at $204MM, per Cot’s Baseball Contracts. That means they could have more than $20MM of space relative to last year, before even factoring in the Rendon savings. They probably want to put some of the Rendon money aside for the deferred payouts but theoretically have some extra powder dry in the short term.

Perhaps the plan all along was to wait until late in the winter, as the free agents who linger unsigned the longest usually have to settle for below-market deals. The tide has indeed shifted in that direction recently. Since the start of February, the notable free agent deals have all come in under what MLBTR predicted at the beginning of the offseason.

Eugenio Suárez was projected for $63MM over three years but settled for $15MM on a one-year deal. Framber Valdez was projected for $150MM over three years but got $115MM over three. Zac Gallen was predicted for $80MM over four years but settled for one-year and $22.025MM, with notable deferrals. Chris Bassitt was projected for $38MM over two years but got a one-year deal worth $18.5MM. Nick Martinez was predicted for $25MM over two but got $13MM on a one-year deal with the Rays. Justin Verlander was always expected to get just one year because of his age, but his heavily-deferred $13MM deal with the Tigers was well below his $22MM projection.

There aren’t many free agents left at this stage of the calendar, but one area with a bit of meat left on the bone is starting pitching. Lucas Giolito, Zack Littell, Max Scherzer and others remain unsigned. Giolito was predicted for two years and $32MM at the start of the offseason but won’t get that now. Littell’s projection was a bit lower at $24MM over two years. Like Verlander, Scherzer’s age will cap him at one-year offers. MLBTR projected $15MM in the fall but that doesn’t seem possible now.

The Angels have added Rodriguez and Manoah to the rotation but there’s room for another arm. Yusei Kikuchi projects as the top guy on the chart. José Soriano will be in there. Soriano is coming off a healthy season but has a lengthy injury history. Rodriguez and Manoah have hardly pitched in the past two years. Reid Detmers is going to get a chance to return to the rotation but was pitching in relief in 2025. Everyone in that group apart from Kikuchi can be optioned to the minors.

Perhaps the Angels are looking to strike in that department, but it’s also possible they have simply been trimming payroll for its own sake. The Angels are one of nine teams who terminated deals with Main Street Sports as that company is apparently in poor shape financially. Early this month, six of those nine pivoted to having MLB handle their broadcasts in 2026. The Angels followed suit a week later.

As recently as 2023, the Angels were getting expected annual revenues of about $125MM from their regional sports network (RSN) deal. Main Street, previously known as Diamond Sports Group, was in bankruptcy proceedings and dropped the Angels going into 2025. The two sides worked out a new deal for last season but presumably with a lower fee payment. That was supposed to be a three-year deal but, as mentioned, the Angels and several other clubs cut ties with the company not too long ago.

Now that the Angels seem to be going the MLB route, that should be another hit. Travis Sawchik of MLB.com reported in January that teams who have lost their RSN deals are now getting about 50% of the revenues they used to receive on those pacts.

Perhaps owner Arte Moreno’s response to that declining revenue is a payroll decrease. That would be a frustrating situation for the club and its fans. The Angels are the club with the longest active playoff drought, with their last appearance coming back in 2014. They won 72 games last year, finishing ahead of just the Twins and White sox in the American League standings. They look like one of the weaker clubs going into 2026. FanGraphs’ Projected Standings have them second from the bottom in the A.L., ahead of just the Sox. The PECOTA Standings at Baseball Prospectus are even more pessimistic, putting the Halos behind Chicago.

Long-term help may not be on the way either. The club has a tendency to use top draft picks on college players and then rush them to the majors, which has contributed to a farm system that isn’t well regarded. Baseball America ranks their system 28th out of the 30 clubs in the majors. ESPN puts them 27th and The Athletic 29th.

Signing someone like Giolito or Littell wouldn’t solve everything that’s currently ailing the franchise, but it would raise the floor on a team that’s currently below sea level. At this part of the calendar, it’s that or nothing. Based on the way the offseason has gone, the smart money might be on nothing.

Photo courtesy of William Liang, Imagn Images