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Orioles To Acquire Shane Baz From Rays

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The Orioles and Rays have agreed to a deal which will send right-hander Shane Baz to Baltimore. In return, the Rays will get outfielder Slater de Brun, catcher Caden Bodine, right-hander Michael Forret, outfielder Austin Overn and a Competitive Balance Round A draft pick. Ken Rosenthal of The Athletic first reported that the O’s were nearing a deal for Baz in exchange for prospects. Jeff Passan of ESPN reported that the deal was done and had the specific players going back to the Rays.

More to come.

Astros, Pirates, Rays Agree To Three-Team Trade Sending Brandon Lowe To Pittsburgh, Mike Burrows To Houston, Jacob Melton To Tampa

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The Astros, Pirates and Rays have agreed to a big three-team trade, according to various reports. Each team’s end of the deal breaks down as follows…

Lowe is the biggest name of the bunch here. The 31-year-old has spent the past eight seasons with the Rays. In that time, he has established himself as one of the better power-hitting second basemen in the sport. Dating back to the start of 2019, he has hit 151 home runs. Among primary second basemen, only Marcus Semien and Jose Altuve are ahead of him in that category, with Semien having 178 in that span and Altuve 158.

That power production from Lowe is even more impressive when one considers that he did that in about one thousand fewer plate appearances than Altuve and about 1,600 shy of Semien. But that also demonstrates the main knock on Lowe, which is that he has had trouble staying on the field. Due to various injuries over the years, he has only twice been able to play more than 107 games in a season. Lower back problems have been a frequent issue but he’s also hit the injured list due to a right shin bone bruise, a right triceps contusion, a right patella fracture, a right oblique strain, left oblique tightness and left ankle/foot tendinitis.

Earlier in his career, the Rays moved Lowe between second base and the outfield corners. Presumably because of the injuries, he hasn’t been sent out to the grass since 2022. He has been almost exclusively a second baseman lately, with a few stints at first as well. His second base defense was once around league average but seems to have slipped as he has battled those injuries and pushed into his 30s. He was given a minus-13 grade from Outs Above Average this year and minus-14 from Defensive Runs Saved.

There’s also a bit of concern from his declining plate discipline. He has always had a high strikeout rate but offset that earlier in his career with solid walk rates. That hasn’t been the case lately, as Lowe walked in fewer than 8% of his plate appearances in each of the past two years.

The power has still been enough to carry the profile. Dating back to the start of 2024, he has 52 home runs and a .251/.309/.475 batting line. That translates to a 118 wRC+, indicating his offense has been 18% above league average overall. Despite the defensive shortcomings, FanGraphs credited him with four wins above replacement in 241 games over that two-year span.

Though Lowe is an imperfect player, he would be a big upgrade for the Pirates. They had almost no offensive prowess to speak of in 2025. Spencer Horwitz was the only Pirate to produce a wRC+ higher than 101.

While the Bucs had a clear lack of offense, they had a huge pile of pitching talent. Paul Skenes was the clear headliner but they had plenty of other exciting young arms in the mix. After several years struggling to return to contention, the Bucs came into this winter looking to get aggressive in upgrading the offense.

They made some spirited attempts in free agency, making competitive offers to Kyle Schwarber and Josh Naylor before the re-signed with the Phillies and Mariners respectively. Even if they had succeeded in one of those guys or someone else, it always seemed likely that they would use their stockpile of young arms to bolster the offense.

 

More to come.

Chandler Rome and Ken Rosenthal of The Athletic first reported the elements of the deal. Alex Stumpf of MLB.com and Francys Romero of BeisbolFR.com report that the deal appears done but is pending medical reviews.

Phillies Acquire Kyle Backhus

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The Phillies announced that they have acquired left-hander Kyle Backhus from the Diamondbacks. Minor league outfielder Avery Owusu-Asiedu goes in the other direction. The move opens a 40-man spot for Arizona, which should allow them to make their agreement with Merrill Kelly official. Philly’s 40-man count goes from 37 to 38.

More to come.

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Padres Re-Sign Michael King

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December 19th: The Padres officially announced their deal with King today.

December 18th: The Padres have an agreement to re-sign Michael King to a three-year contract with opt-outs after the first two seasons. The Excel Sports Management client is reportedly guaranteed $75MM.

He’ll receive a $12MM signing bonus and a $5MM salary for the 2026 season. He’d collect a $5MM buyout if he opts out of the remaining two years and $53MM. King would make $28MM in 2027 if he opts in and would then have a $30MM player option for the ’28 campaign. While the Padres have yet to announce the deal, he has reportedly already passed his physical.

It’s a surprise strike for a San Diego team that had seemed likely to lose King and Dylan Cease in free agency. It wasn’t clear whether they’d have the short-term spending capacity to keep either pitcher. While they were never expected to come close to the $210MM guarantee which Cease received, they’ll bring King back on a short-term deal to help a rotation that was their top priority.

The 2026 season will be the righty’s third in San Diego. The Padres acquired King as the centerpiece of their Juan Soto return over the 2023-24 offseason. He had run with a limited rotation opportunity late in his final season as a Yankee after years of strong work out of the bullpen. San Diego committed to him as a full-time starter and was rewarded with a career season.

King pitched to a 2.95 earned run average with 201 strikeouts over 173 2/3 innings. He finished seventh in NL Cy Young balloting and entered his walk year as a candidate for a nine-figure contract. He looked on his way to a $150MM+ deal after getting out to an even better beginning to the ’25 campaign. He turned in a 2.59 ERA while striking out 28.4% of batters faced over his first 10 starts.

The Padres scratched King from his outing on May 24 with stiffness in his throwing shoulder. Then-manager Mike Shildt initially framed it as a minor issue that arose when the pitcher slept awkwardly. It proved a much bigger problem. King went on the injured list with what the team called inflammation. They subsequently determined it was a nerve injury that came with a nebulous timeline. He wound up missing almost three months.

King made his return on August 9. He made one start before going back down with left knee inflammation. That cost him another month, and he wasn’t as effective when he made it back for good in September. King didn’t get beyond five innings in any of his final four starts. He gave up 10 runs over 15 2/3 innings. Most of the damage came in an eight-run drubbing at the hands of the Mets on September 16. King’s final two appearances were scoreless, but those came with an uninspiring 7:6 strikeout-to-walk ratio.

The Padres didn’t fully trust King going into October. They opted for Nick Pivetta, Cease, and Yu Darvish to start in their Wild Card Series loss to the Cubs. King’s only playoff action was one scoreless inning of relief in the decisive Game 3. He struck out three of four batters while averaging 95.6 MPH on his fastball. That was his highest single game velocity of the season. That’s to be expected during a one-inning appearance with the heightened adrenaline of a must-win game, but it was an encouraging sign for the health of his shoulder.

San Diego issued the $22.025MM qualifying offer. It was an easy call for King to decline in search of a multi-year deal. This arrangement functions as a bit of a pillow contract but with a much higher floor than the one-year QO would have provided. King would make $22MM if he opts out after one year. That result would be the same as if he’d accepted the qualifying offer.  The extra two guaranteed seasons afford him a lot more injury protection.

King’s guarantee technically falls just shy of MLBTR’s four-year, $80MM prediction. However, the higher average annual value and the opt-outs make this a stronger overall deal for the player. He’ll have a chance to return to free agency in advance of his age-32 season and cannot be tagged with another qualifying offer. A healthier season could position him for a four- or five-year contract.

Health is no small caveat. The ’24 campaign is the only time King has reached even 105 innings in a season. While that’s in part because the Yankees used him as a reliever, King missed extended stretches in 2021 (finger contusion) and ’22 (elbow fracture) in addition this year’s shoulder woes. The Padres are taking on some injury risk but get the upside of a potential top-of-the-rotation arm on a short-term deal.

King and Pivetta project as their top two starters. San Diego has reportedly discussed the latter in trade conversations but would need a huge return to move him. Joe Musgrove is back from Tommy John surgery and slots into the #3 rotation spot. They’ll be without Darvish for the entire season, so the final two starting jobs are up for grabs. Randy Vásquez and JP Sears lead the internal options, but the Padres could look for a cheaper back-end/swing type later in the winter. They’ll surely kick the tires on controllable arms in trade, as well, as both Pivetta and King can opt out.

San Diego’s projected payroll climbs to $218MM, as calculated by RosterResource. The backloaded nature doesn’t change the $25MM AAV used for luxury tax purposes. They’re up to a projected $259MM in tax commitments. They’ll exceed the $244MM base threshold for the second straight season. Repeat payors are taxed at a 30% rate for their first $20MM in overages. Re-signing King costs around $4.5MM in taxes.

The more significant development is that it moves them closer to the $264MM second tier, at which the rate climbs to 42%. The Padres had nearly $280MM in luxury tax commitments this year, according to Cot’s Baseball Contracts. Their actual salary obligations were around $209MM, though, so it’s unclear how much more flexibility the front office has at its disposal. In addition to the need for a back-end starter, they should acquire another bat to plug in at first base or designated hitter and could use a better utility infielder than Will Wagner and Mason McCoy.

King’s deal is the second-largest of the offseason in what has been a slowly developing market for free agent starting pitchers. Cease is the only other starter who has signed for more than $40MM so far. The rotation market should pick up in the next few weeks. NPB star Tatsuya Imai needs to sign before his 45-day posting window closes on January 2. Framber Valdez, Ranger Suárez and Zac Gallen join Imai as the top unsigned arms.

Mark Feinsand of MLB.com was first on the agreement, contract terms, and the note that the physical is already complete. Image courtesy of Vincent Carchietta, Imagn Images.

Giants Sign Adrian Houser

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December 19th: The Giants have officially announced the Houser signing but haven’t yet announced a corresponding move.

December 16th: The Giants and righty Adrian Houser are in agreement on a two-year, $22MM contract, reports ESPN’s Jeff Passan. There’s a club option for a third season. Houser, a client of the BBI Sports Group, will presumably step right into San Francisco’s rotation next season after a rebound showing in 2025. The Giants, who also announced a one-year deal with former Tigers closer Jason Foley less than an hour ago, will need to free up a pair of 40-man roster spots, as they were already at capacity prior to either of those two agreements.

Houser, who’ll turn 33 in February, was a steady presence in the Milwaukee rotation for several years. From 2021-23, Houser started 68 games for the Brewers (in addition to five relief outings) and logged a 3.94 ERA. His 17.6% strikeout rate and 9.4% walk rate were both worse than average, but Houser piled up grounders at a 51.3% rate and managed to consistently avoid the long ball (0.83 HR/9).

The Brewers traded Houser to the Mets in the 2023-24 offseason, ahead of what was set to be his final season of club control. He struggled through his lone year in Queens (5.84 ERA in seven starts and 16 relief outings) before being designated for assignment and cut loose. He wound up settling for a minor league contract with the Rangers in free agency last winter. Texas didn’t bring him up to the big leagues prior to an opt-out date, so Houser returned to the market and signed a big league deal with the White Sox — a decision that now stands as a turning point in his career.

Houser hit the ground running and never looked back. In 11 starts with the ChiSox, he pitched 68 2/3 innings of 2.10 ERA ball. As was the case in Milwaukee, Houser posted a strikeout rate well shy of the 22% league average (17.1%), but he did so with better command (8% walk rate) and even fewer round-trippers (0.39 HR/9). Houser’s home run suppression didn’t seem sustainable; only 4.6% of the fly-balls he surrendered with the Sox turned into homers — miles south of the league-average 11.9% mark and his own career mark of 11.5%.

Following a trade to Tampa Bay, Houser indeed saw his home run luck run out. His homer-to-flyball rate jumped to 11.9%, and he averaged 1.12 homers per nine frames. The resulting 4.79 ERA was pretty closely in line with his 4.62 SIERA with Chicago. Still, Houser proved a durable source of innings down the stretch for the Rays, pitching 56 1/3 frames across 10 starts. Overall, he finished out the season with a 3.31 ERA, 17.8% strikeout rate, 7.3% walk rate, 48.9% ground-ball rate and 0.73 HR/9.

Houser will slot into new skipper Tony Vitello’s rotation behind Logan Webb, Robbie Ray and Landen Roupp. The Giants have a host of candidates for the fifth and final spot on the staff, including (but not limited to) Blade Tidwell, Carson Seymour, Kai-Wei Teng, Trevor McDonald, Hayden Birdsong and well-regarded prospect Carson Whisenhunt.

The Giants have been on the hunt for rotation help this winter, and while they’ve been connected to some of the more prominent names on the market, ownership has publicly expressed a reluctance to commit long-term to a starting pitcher. That’s made fits with pitchers like Tatsuya Imai, Framber Valdez and Ranger Suarez seem unlikely, though it’s at least plausible that the Giants could look to further augment their starting staff via the trade market or another shorter-term deal such as today’s Houser agreement.

Given Houser’s inconsistent track record, lack of missed bats and generally unsustainable level of home run suppression with the White Sox, it’s a fairly steep price for the Giants to pay. Then again, San Francisco’s Oracle Park is one of the most pitcher-friendly venues in the sport. Oracle Park is particularly tough on left-handed home run power, which dovetails nicely with Houser’s skill set. He held right-handers to an awful .249/.293/.320 batting line in 2025 (.234/.296/.339 career) but was tagged by lefties for a .274/.356/.456 batting line last season (and .282/.367/.456 for his career).

The addition of Houser pushes San Francisco to about $203MM of luxury tax obligations, per RosterResource. The Giants are more than $40MM shy of the $244MM first-tier threshold. However, while they’ve paid the tax in the past — doing so as recently as 2024 — it’s not clear whether they’re comfortable doing so in 2026. Ownership comments downplaying the possibility of adding additional long-term deals would suggest at least some trepidation about spending to those heights.

The Giants are still looking for help in the outfield, at second base and/or in the bullpen. While the top-end free agents to whom they were loosely linked earlier in free agency (e.g. Imai, Valdez) don’t seem like realistic targets, barring an about-face from ownership on the team’s stance regarding long-term commitments, there are still various avenues to pursue. Free agency offers no shortage of veteran hitters and relievers available on short-term deals, and San Francisco is reportedly among the teams most aggressively pursuing Cardinals infielder/outfielder Brendan Donovan.

President of baseball operations Buster Posey presumably has several more moves up his sleeve, and while the addition of Houser doesn’t necessarily raise the team’s ceiling much, it does boost the floor of a rotation that was pretty rife with question marks beyond the veteran Webb/Ray tandem up top.

Orioles Interested In JoJo Romero

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The Orioles have shown interest in Cardinals left-hander JoJo Romero, reports Derrick Goold of The St. Louis Post-Dispatch. The O’s join the Yankees and Mariners as club connected to Romero this month.

Romero, 29, is one of the most straightforward trade candidates of the offseason. He is slated for free agency after the upcoming campaign. With the Cardinals rebuilding, there’s little sense in hanging onto him. They could wait to trade him at the deadline but that path carries risks, as the Cards know. They held onto Erick Fedde and Ryan Helsley going into 2025 and saw both pitchers decrease their respective trade values with poor performances. Even if Romero keeps performing, any pitcher can get hurt at any time, which is another reason to cash him in now.

Since being acquired from the Phillies in 2022, Romero has tossed 171 innings for the Cards, allowing exactly three earned runs per nine. His 23.4% strikeout rate and 9.1% walk rate in that time are both pretty close to typical league averages but his 53.7% ground ball rate is quite strong. He averages around 94 miles per hour with his four-seamer and sinker while also mixing in a slider, cutter, curveball and changeup. He has recorded 12 saves and 64 holds.

Romero isn’t an overpowering bullpen arm by today’s standards but his results have been consistently solid. MLBTR contributor Matt Swartz projects him for a $4.4MM salary next year, very affordable in the current landscape.

The Baltimore bullpen has changed a lot in the past six months. They fell out of contention this year and went into seller mode at the deadline. They flipped Gregory Soto, Seranthony Domínguez and Andrew Kittredge to other clubs. In August, Félix Bautista required shoulder surgery, a procedure with an estimated recovery time of 12 months. This offseason, they have re-acquired Kittredge from the Cubs and signed Helsley.

They currently have four lefty relievers on the 40-man roster, in Keegan Akin, Dietrich Enns, Grant Wolfram and Josh Walker. Akin has had some solid years with the Orioles but had an uncharacteristic 12.3% walk rate this year. Enns is about to turn 35 and worked as a swingman in 2025 after a few years pitching in Asia. Wolfram and Walker each have fewer than 30 big league innings pitched. Romero would immediately jump to the top of that group if the O’s were able to acquire him.

The lefty relief market has been surging a bit lately. In the past two weeks, Soto, Hoby Milner, Tyler Alexander, Drew Pomeranz, Caleb Ferguson and Caleb Thielbar have signed free agent deals. On the trade market, Jose A. Ferrer, Ángel Zerpa and Matt Strahm have been flipped. Free agency still features guys like Sean Newcomb, Justin Wilson, Danny Coulombe, Andrew Chafin, Brent Suter and others. There are many theoretical trade candidates but Romero is the most obvious one.

Photo courtesy of David Frerker, Imagn Images

Royals To Sign Abraham Toro To Minor League Deal

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The Royals and infielder Abraham Toro have agreed to a minor league deal, reports Daniel Álvarez-Montes of El Extrabase. The Republik Sports client also receives an invite to big league camp in spring training.

It’s an early birthday present for Toro, who turns 29 tomorrow. The trilingual Québécois infielder has appeared in the past seven big league seasons as a part-time, multi-positional player. He was with the Red Sox in 2025 but he was outrighted off the roster in August. He became a free agent at season’s end, which allowed the Royals to sign him to this deal.

He has 1,582 plate appearances over those seven campaigns. His 17.1% strikeout rate is a few ticks better than average but his 6.4% walk rate is on the low side. He has a combined .223/.285/.356 line over that time, which translates to an 81 wRC+, indicating he’s been 19% worse than league average.

It’s possible there’s a bit more in the bat, as he’s put up more intriguing numbers in the minors. Dating back to the start of 2021, he has 799 minor league plate appearances with a 12.6% walk rate, 19.1% strikeout rate, .286/.380/.474 line and 120 wRC+.

Defensively, he has logged hundreds of big league innings at the non-shortstop infield positions, with brief looks in the outfield corners as well. The Royals are set on the left side of the infield with Bobby Witt Jr. at shortstop and Maikel Garcia at third. On the other side of the dirt, Vinnie Pasquantino has first base locked down. Second base is a bit less settled since Jonathan India and Michael Massey both struggled in 2025.

Kansas City currently has Nick Loftin and Tyler Tolbert on the roster as potential bench infielders but both are still optionable. If the Royals would prefer those guys to get regular playing time, they could be sent to Triple-A. The Royals have added Kevin Newman and now Toro as veteran infielders on non-roster pacts who could potentially take over a bench role. If Toro cracks the roster, he is out of options. If he’s holding a roster spot at the end of the year, he can be retained beyond 2026 via arbitration.

Photo courtesy of Brian Fluharty, Imagn Images

Tigers Sign Four Pitchers To Minor League Deals

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December 19th: Guenther will make $787K if he cracks the roster, per Petzold.

December 18th: The Tigers have made a handful of depth additions in the past few days. Relievers Jack Little and Sean Guenther return on minor league contracts after being non-tendered, according to the MLB.com transaction tracker. They’re adding left-hander Enmanuel De Jesus on a minor league deal that’d pay him at a $1.3MM rate if he makes the big league roster, reports Evan Petzold of The Detroit Free-Press. Righty reliever Cole Waites will also be in camp as a non-roster invitee after signing a minor league deal last week, as first reported by Ari Alexander of 7 News Boston.

Guenther is the only of the four pitchers who has appeared in a game for the Tigers. The left-hander has pitched 31 1/3 innings of 2.30 ERA ball over the past two seasons. He didn’t miss enough bats to support the excellent run prevention mark and has been an up-and-down middle reliever. Guenther missed the final three months of the ’25 season working back from hip surgery. Detroit used the non-tender deadline to drop him from the 40-man roster with an eye towards bringing him back on a minor league contract.

They did the same thing with Little, whom they’d claimed off waivers from Pittsburgh a couple weeks earlier. The 27-year-old righty (28 in January) debuted with two appearances for the Dodgers this year. He spent the rest of the season in Triple-A, where he turned in a 4.06 ERA with a modest 20.2% strikeout percentage over 62 innings.

De Jesus, 29, returns to affiliated ball after two seasons in Korea. He spent a year apiece with the Kiwoom Heroes and the KT Wiz. De Jesus worked out of the rotation and posted a sub-4.00 ERA while starting 30 games in both seasons. He struck out 24% of opponents with a 3.81 earned run average in 335 combined frames. The Venezuela native pitched in two MLB games for the Marlins in 2023.

Waites also most recently appeared in the big leagues two years ago. He allowed seven runs in eight innings for the Giants between 2022-23. He underwent elbow surgery late in the ’23 season and has missed most of the past two seasons. The 27-year-old Waites owns a 4.46 ERA in 43 career appearances at the Triple-A level.

The Opener: Holiday Rush, Starting Pitching Free Agents, Murakami

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Here are three things we’re keeping an eye on going into the final weekend before the holiday break…

1. Last-minute shopping?

The hot stove tends to slow down a bit around the holidays and Christmas is on Thursday next week. Will that spur teams and players to get some things done before the shops close? Already this morning, before this post could even go up, the Padres agreed to a deal with Sung Mun Song and the Phillies traded Matt Strahm to the Royals for Jonathan Bowlan.

2. Rotation market moving?

The starting pitching section of free agency has been moving a bit slower than other segments. The Blue Jays quickly snapped up Dylan Cease but then things went quiet for a few weeks. Things have seemingly picked up a bit, as Michael King, Merrill Kelly, Dustin May and Adrian Houser have come off the board in the past week. Tatsuya Imai, Framber Valdez, Ranger Suárez, Zac Gallen and others are still out there and could perhaps see their markets pick up.

3. Ticking clock for posted players.

Players coming from NPB or KBO who are posted for MLB clubs only have a set amount of time to negotiate deals. Song got a deal done just before his posting window was set to close. Munetaka Murakami is now the one with the least amount of sand in the hourglass, as his posting window closes on December 22nd. Imai and Kazuma Okamoto have until early January but might want to get something done before the holidays.

Photo courtesy of Troy Taormina, Imagn Images

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