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Yankees Re-Sign Cody Bellinger

By Darragh McDonald | January 26, 2026 at 4:20pm CDT

The Yankees and outfielder/first baseman Cody Bellinger have reunited on a new contract. The Boras Corporation client reportedly gets a five-year deal with a $162.5MM guarantee, with no deferrals. He gets a $20MM signing bonus followed by salaries of $32.5MM in each of the first two years, $25.8MM in each of the next two, then $25.9MM in the final season. Bellinger can opt out after the second or third season, though those opt-outs are pushed by a year if the 2027 season is canceled by a lockout. Bellinger also gets a full no-trade clause. The Yankees have not yet announced a corresponding 40-man roster move.

It always seemed like a good bet that Bellinger would return to the Yankees, since their first season together was a success. But there was a standoff recently, as the club and Bellinger’s camp had a bit of a gap. It was reported earlier this month that the Yankees had an offer out to Bellinger. No details on that offer were revealed but it was reported a few days later that they had made a second offer.

Subsequent reporting on the negotiations suggested the Yanks had put forth a five-year offer worth more than $150MM, but with Bellinger’s camp hoping to get the length pushed to seven years. That gap seemingly put things on ice for a moment, with alternative paths available to both parties. The Yankees showed interest in other players, including outfielder Luis Robert Jr., while Bellinger still had potential fits with teams like the Dodgers and Mets.

But the market has changed quite a bit in the past week. The Dodgers and Mets got into a bidding war over Kyle Tucker, with the Dodgers coming out on top. The Mets then pivoted to signing Bo Bichette to bolster their infield, followed by trading infielder Luisangel Acuña to the White Sox as part of their package to land Robert.

Those moves took away some alternate paths from the Yankees but also removed a couple of logical landing spots for Bellinger. He had also been connected to the Blue Jays, Giants and Phillies throughout the winter but none of those clubs seemed to be strongly in the mix. The Yanks seemingly didn’t budge far from where their reported offer was a few weeks ago, though they did add the opt-outs. It was reported a few days ago that they were willing to include those.

Though Bellinger and Boras didn’t quite get the seven years they were looking for, the deal comes in fairly close to expectations from the beginning of the offseason. For instance, MLBTR predicted Bellinger to land a guarantee of $140MM over five years. Bellinger has secured himself a floor just above that. There’s also a path to boosting his future earnings again with more opt-out opportunities down the line.

He is now 30, turning 31 in July, so he will be 32 years old by the end of the 2027 season. Alex Bregman and Kyle Schwarber both just got five-year deals this offseason, with Schwarber going into his age-33 season and Bregman age-32. Schwarber got a $150MM guarantee and Bregman $175MM, though Bregman’s deals had deferrals which pushed the net present value pretty close to Schwarber’s guarantee.

For Bellinger, he can bank $85MM over the next two years, when factoring in the signing bonus and the front-loaded salaries. When his first opt-out decision comes around, he would still have three years and $77.5MM left on this deal. If he continues to be a productive player between now and then, he should be in a good position to opt out. The lockout-specific provision of the opt-outs appears to be a way for the Yankees to get at least two years of Bellinger’s services.

While Bellinger has maintained some future earning potential, he has also secured himself a strong base after a few years of uncertainty. When he first hit the open market, he had shown both huge upside and a massive downside. In 2019, then with the Dodgers, Bellinger was the National League MVP. He hit 47 home runs that year. Offense was up all around the league thanks to some juiced balls but Bellinger also drew walks at a 14.4% clip and only struck out 16.4% of the time. His .305/.406/.629 line led to a 161 wRC+, even in the heightened offensive environment of that season. He stole 15 bases and got strong reviews for his defense. FanGraphs credited him with 7.8 wins above replacement.

But his production backed up a bit in 2020 and he infamously injured his shoulder in the NLCS during a post-homer celebration with teammate Enrique Hernández, as seen in this video from MLB.com.

Bellinger underwent surgery after the season and his performance was awful for two years after. He slashed .193/.256/.355 over 2021 and 2022, getting non-tendered by the Dodgers after the latter campaign. He latched on with the Cubs for 2023, signing a one-year deal worth $17.5MM. He had a strong bounceback season in Wrigley, hitting 26 home runs and slashing .307/.356/.525 for a 135 wRC+.

Going into 2024, Bellinger and his reps at the Boras Corporation were hoping to cash in. He had seemingly put the low points behind him. He was still young, going into his age-28 season, and had shown MVP upside. The previous offseason, Trea Turner and Xander Bogaerts had both secured 11-year deals. This was seemingly a way to lower the competitive balance tax hit of those deals, as a player’s CBT hit is calculated based on a deal’s average annual value.

MLBTR expected this trend to continue with Bellinger, predicting him for a 12-year deal worth $264MM. That seemed to be at least somewhat aligned with what Bellinger and Boras felt he could get, as they reportedly went out looking to top $200MM.

It did not play out that way. Though Bellinger’s 2023 season was a success, there was seemingly some concern about some lackluster batted-ball data. And with the injury-marred seasons still somewhat fresh in the collective memory, his market never quite developed as hoped.

It wasn’t just Bellinger, as several other players lingered unsigned that season. They came to be known as the “Boras Four”, as they were all repped by the same agency. Bellinger, Blake Snell, Matt Chapman and Jordan Montgomery all settled for short-term deals well below expectations. Bellinger returned to the Cubs on a three-year deal with an $80MM guarantee, with chances to opt out after each season.

The first season of that pact wasn’t a roaring success, as Bellinger was good but not great. He hit 18 home runs and slashed .266/.325/.426 for a wRC+ of 108. Bellinger decided to forgo the first opt-out opportunity and stick with the Cubs. The team didn’t hold up their end of the reunion, however, as they shipped Bellinger to the Yankees. It was effectively a salary dump. The Cubs got Cody Poteet in return, whom they designated for assignment a few months later.

The Cubs ate $5MM in the swap, leaving the Yanks theoretically on the hook for $47.5MM over two years, though with Bellinger still having another opt-out remaining. As mentioned earlier, the Yankees and Bellinger turned out to be a great match. He hit 29 home runs on the year and slashed .272/.334/.480 for a 125 wRC+. Yankee Stadium and its short porch in right field seemed to be a good fit for him, as he slashed .302/.365/.544 at home on the year. He stole 13 bases overall and continued to get good grades for his glovework, earning 4.9 fWAR.

Bellinger triggered his opt-out and took another crack at free agency, which led to this pact. As mentioned, it’s possible that Bellinger will return to the open market yet again in the future. For now, though it came about in circuitous fashion, he has pushed his earning floor above the $200MM he was looking for a few years ago.

His three-year deal with the Cubs paid him $27.5MM in each of the first two years. He collected a $5MM buyout when he opted out of the final season, meaning he banked $60MM on the pact. Combined with this deal with the Yankees, he’ll earn $222.5MM even if he doesn’t trigger either of the opt-outs in this deal.

For players taking the short-term route and hoping for more earnings later, this is another example of how the path is viable. It doesn’t always work out, as Montgomery will surely tell you, but the hit rate is pretty decent. Chapman, Snell, Bellinger, Bregman, Carlos Rodón, Pete Alonso and Carlos Correa have all signed two- or three-year deals with opt-outs and then later signed a longer deal worth nine figures.

For the Yankees, this gets their outfield back to its 2025 level. Both Bellinger and Trent Grisham became free agents at the end of last season but both have now re-signed. They project to line up in two outfield spots with Aaron Judge in another and Giancarlo Stanton in the designated hitter slot. Bellinger can also play a bit of first base but the Yanks could give Ben Rice the regular job there after his breakout season. Rice can also catch, so perhaps Bellinger would slide to first base if Rice is needed behind the plate.

It’s possible the Yankees now look to move some outfield depth in the wake of this deal. Jasson Domínguez was once a top prospect but had an underwhelming season in 2025. He was roughly league average at the plate but with poor defensive metrics. The Yankees also have Spencer Jones pushing for a job after he hit 35 home runs in the minors last year but he also struck out in 35.4% of his plate appearances.

Neither Domínguez nor Jones has a great path to playing time right now. That could change as the season goes along. Stanton is 36 years old and has made at least one trip to the injured list in seven straight seasons now. Judge will turn 34 soon. Even if he himself stays healthy, the Yanks may want to put Judge in the DH slot if Stanton is hurt.

Perhaps the Yankees will keep both Domínguez and Jones around as depth for such situations, as both players are still optionable, but either or both could also be trade fodder. Club owner Hal Steinbrenner has previously expressed a desire to keep the payroll beneath $300MM. The Yanks are now a bit over that. RosterResource has them at $304MM in terms of pure payroll, with a $318MM CBT number.

That CBT number is over the top tier, which is $304MM. Since the Yankees have paid the tax in at least three consecutive years, that puts them in the highest possible tax bracket. They were at about $285MM or so before the Bellinger deal, so they paid a 95% tax on the part of the deal pushing them to the top line and then a 110% tax on the part that went beyond it. In the end, they’re adding more than $30MM in taxes to their ledger, on top of what they are paying Bellinger. They still arguably need some pitching help, so perhaps they would trade from their outfield depth instead of adding more money via free agency.

For the other clubs in the league, this further narrows down the list of available options. As of the start of the year, there were still many players available in free agency or in trade, but the dominos have been falling in quick succession lately. The Cubs got a deal done with Bregman, which prompted the Red Sox to sign Ranger Suárez and the Diamondbacks to get Nolan Arenado. The Tucker deal pushed the Mets to Bichette and Robert, which may have helped the Phillies reunite with J.T. Realmuto and pushed Bellinger to get back together with the Yankees. The Realmuto deal seemingly led to Victor Caratini signing with the Twins. All that happened in the past 11 days.

Pitchers and catchers will be reporting to spring training in less than three weeks. With Bellinger now off the board, the top unsigned free agents include Framber Valdez, Zac Gallen, Eugenio Suárez, Harrison Bader, Chris Bassitt and others. There are still a few theoretical trade candidates out there, including Brendan Donovan and MacKenzie Gore.

Jeff Passan of ESPN first reported that the Yanks and Bellinger were in agreement on a deal. Bob Nightengale of USA Today first reported the five-year length and guarantee. Brendan Kuty of The Athletic first reported the lack of deferrals. Passan then reported the opt-outs, signing bonus and no-trade clause. Nightengale then reported the salary for the first two seasons. Jon Heyman of The New York Post reported the full salary breakdown. Nightengale added the detail of the opt-outs being pushed in the event of the 2027 season being canceled. Photos courtesy of Wendell Cruz, Vincent Carchietta, Imagn Images

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New York Yankees Newsstand Transactions Cody Bellinger

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Twins, Joe Ryan Avoid Arbitration

By Darragh McDonald | January 26, 2026 at 3:40pm CDT

The Twins and right-hander Joe Ryan have reached agreement on a new contract, therefore avoiding arbitration, according to Jon Heyman of The New York Post. He’ll be guaranteed $6.2MM on the deal, in the form of a $6.1MM salary and then a $100K buyout on a $13MM mutual option for 2027.

Ryan was one of 18 players to not have an agreement in place when the filing deadline passed earlier this month. He is going into his second of three arbitration seasons, having made $3MM last year. MLBTR contributor Matt Swartz projected him for a raise to $5.8MM this year. The Twins filed just above that at $5.85MM, with Ryan himself at $6.35MM, a gap of $500K.

Most teams these days adopt a “file and trial” approach, which means they cut off negotiations of one-year deals after the filing deadline. This is to give them leverage in pre-deadline talks and also to prevent players from filing absurdly high numbers in an attempt to set out an aggressive bargaining stance. An arbiter can only pick the player’s or the team’s number, not a midpoint.

Even if a team does have a “file and trial” policy, exceptions are made for deals that are longer than one year, even if that extra year is an option. That gives the club a path to avoid a potentially contentious hearing while vaguely sticking to their policy. A deal with an option can’t be used as a comparison point in future arb hearings as well, which is a factor.

Arbitration hearings are generally viewed as a normal part of the business but occasional situations have occurred where the relationship between a player and a team have been damaged. Corbin Burnes said as much after his hearing with the Brewers three years ago. Ryan and the Twins have steered clear of that possibility by settling on a number in between their respective filing figures.

The mutual option is mostly just an accounting measure to move part of the payment to the end of the season via that buyout. Mutual options are almost never picked up by both parties. Even if the option is turned down, Ryan would still be under club control for 2027.

Ryan was in a number of trade rumors last summer as the Twins were undergoing a fire sale of sorts. They sold off most of their bullpen and Carlos Correa but held some other players, including Ryan. It was initially expected that they would look to move him this winter but have since pivoted to an attempt to return to contention in 2026.

Given his relatively modest salary and extra year of club control, he would still have a lot of trade value at the deadline if he is healthy and the Twins fall back in the standings, though the club is hoping to avoid that scenario and would prefer Ryan to be pitching meaningful games for the team in September and October.

Minnesota’s arbitration class is now settled. As for the rest of the league, there will now be no more than 15 hearings this year. As mentioned, 18 players didn’t have a deal as of the deadline. Since then, Cade Cavalli, Bryce Miller and now Ryan have reached new deals to avoid hearings.

Photo courtesy of Bruce Kluckhohn, Imagn Images

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Minnesota Twins Transactions Joe Ryan

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Trade Rumors Front Office Subscriber Chat Transcript

By Steve Adams | January 26, 2026 at 2:58pm CDT

Steve Adams

  • Good afternoon! Hope the weekend treated everyone well. I will get going in a couple hours, at 3pm CT, but feel free to send in some questions ahead of time if you are so inclined!
  • Let's get going!

Mr Redlegs

  • What's the restriction on when you can trade a newly signed player? e.g. if the White Sox wanted, could they assume Seranthony Dominguez salary and trade him for a prospect now verses waiting until the deadline?

Steve Adams

  • Any player signing as a free agent cannot be traded until the following June 15 unless he consents to it.

Amazins

  • Do you see Peralta sigining extension with Mets? How much would get it done?

Steve Adams

  • I assume they'll try to extend him, yes. David Stearns has shown pretty definitively that he prefers to eschew long-term commitments, particularly to pitchers. He knows Peralta well from Milwaukee and knows Peralta has signed one deal prioritizing comfort and security over maxing out on the open market.I imagine they'll aim for something like four years total (beginning in 2027, since he's already signed for 2026) and at a massive AAV. Something like $140-160MM total from 2027-30. He'd be 34 at the end of that contract.

Drake

  • So who plays RF for the Giants? Lee or Bader?

Steve Adams

  • Jung Hoo Lee was statistically one of the worst CFs in baseball last year, but his arm strength rated well. Bader is elite in CF. He'll play there. Lee will slide to the corner.

Al

  • What do you see is the most likely scenario for Matt Shaw.

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Front Office Originals MLBTR Chats

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Angels, Nick Sandlin Agree To Minor League Deal

By Steve Adams | January 26, 2026 at 2:27pm CDT

The Angels and reliever Nick Sandlin are in agreement on a minor league contract with an invitation to major league spring training, reports Jeff Fletcher of the Orange County Register. The right-hander is represented by the Ballengee Group.

Sandlin, 29, has pitched in parts of four big league seasons, primarily suiting up for the Guardians. Cleveland shipped him to Toronto as part of last offseason’s Andrés Giménez swap, however. Sandlin wound up pitching only 16 1/3 innings with the Jays, as a lat strain and elbow inflammation led him to spend the bulk of the season on the injured list. Toronto designated him for assignment following the season — effectively non-tendering him — rather than paying a projected $2MM in arbitration (courtesy of MLBTR contributor Matt Swartz).

Prior to that injury-marred Jays run, Sandlin was a quality member of the Cleveland bullpen. From 2021-24, he pitched 195 1/3 innings with a tidy 3.27 earned run average, a 27.7% strikeout rate, 11.4% walk rate and a 43.6% ground-ball rate. That walk rate is well north of league-average, but Sandlin’s strikeout rate was strong and his grounder rate was a hair better than par.

Sandlin has never been a hard thrower, but the 91.4 mph he averaged on his four-seamer last year and the 91.8 mph he averaged on his sinker were both career-low marks. That’s not necessarily surprising, given that a pair of arm injuries creates a pretty good chance he wasn’t pitching at 100% (or all that close to it) when he did take the mound.  Sandlin’s huge 14.8% swinging-strike rate from 2025 (again, small-sample caveats apply) was also outstanding.

Sandllin has 4.157 years of major league service time. If he spends even 15 days on the Angels’ major league roster or injured list, he’ll reach five years of service. That’s still not enough to become a free agent — unless he’s non-tendered — so if he pitches well, the Angels will have control over him for not only the 2026 season but also the 2027 campaign.

There should be room in the Anaheim bullpen for Sandlin to grab a spot if he pitches well during spring training or perhaps early in the season with Triple-A Salt Lake. Robert Stephenson, Kirby Yates, Drew Pomeranz and Jordan Romano are all locked into spots, and out-of-options righty Chase Silseth probably has a place locked down as well. That’d leave three spots for some combination of Ryan Zeferjahn, Jose Fermin, Cody Laweryson, Sam Bachman and a handful of veteran non-roster invitees (Sandlin, Miguel Castro, Angel Perdomo, Tayler Saucedo). The Halos will probably add some more arms to the spring competition before long, but Sandlin gives them another talented arm on which to roll the dice.

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Los Angeles Angels Transactions Nick Sandlin

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Braves Claim José Suarez, Designate George Soriano For Assignment

By Darragh McDonald | January 26, 2026 at 1:25pm CDT

The Braves have claimed left-hander José Suarez off waivers from the Orioles, according to announcements from both clubs. The southpaw was designated for assignment by Baltimore last week when they claimed infielder Weston Wilson. Atlanta designated right-hander George Soriano for assignment today as a corresponding move for this claim.

It was less than two weeks ago that Atlanta put Suarez on waivers, which is when Baltimore claimed him. It might seem odd for a team to put a player on waivers and then claim him right back shortly thereafter. Simultaneously, it might be strange to see a club claim a guy and then put him right back on the wire so quickly. In these instances, the teams are hoping to be the one to get the player through waivers unclaimed, which would allow them to keep him in a non-roster capacity. Atlanta and Baltimore are two of the most aggressive clubs at attempting this manoeuver.

This appears to be the sixth time in this offseason that one club has claimed a player from the other. Atlanta claimed both Carson Ragsdale and Josh Walker from the Orioles in November, though Ragsdale was later non-tendered and signed in Japan. Walker was put back on waivers in December, when the Orioles reclaimed him. Baltimore passed him through waivers unclaimed in January. Atlanta then claimed Soriano from Baltimore, before Baltimore claimed Suarez from Atlanta. Now Atlanta has claimed Suarez back again.

Suarez, 28, has appeared in the past seven big leagues seasons. He spent most of that time as a swingman for the Angels but also appeared with Atlanta in 2025. For his career, he has thrown 396 big league innings, allowing 5.30 earned runs per nine.

His 2025 season was mostly spent in the minors. He only made seven big league appearances for Atlanta. He had a strong 1.86 ERA but that was in a small sample with strong indications it would not be sustainable. His 51.9% ground ball rate was good but his 19.8% strikeout rate and 12.3% walk rate were both subpar. He was fortunate to allow a .259 batting average on balls in play while posting an 84.7% strand rate.

His Triple-A results were more impressive, despite the fact that his 3.53 ERA was higher. He struck out 27.6% of batters faced at that level while only giving out walks 5% of the time. He averaged around 93 miles per hour with both his four-seamer and sinker last year, while also featuring a slider, curveball and changeup.

At the end of the season, he and Atlanta avoided arbitration by agreeing to a $900K salary for the 2026 season. He is out of options and but it seems the club was hoping to get him to the minors by passing him through waivers. Baltimore intervened in their first attempt but Atlanta has snagged him back. He has a roster spot for now but perhaps Atlanta will make another attempt to get him through waivers in the future.

Soriano, 27 in March, is in a somewhat similar position. He pitched for the Marlins over the past three years but exhausted his options in the process. Now that he’s out of options, it seems there’s a small battle as these clubs hope to be the one to pass him through waivers unclaimed, therefore keeping him as non-roster depth in the minors. The Marlins put him on the wire in November, when he was claimed by the Orioles. Baltimore put him back on waivers about three weeks ago but Atlanta claimed him.

He hasn’t yet found major league success but is coming off a good year on the farm. He has a 5.95 ERA in 118 major league innings. He tossed 42 2/3 innings in Triple-A last year with a 2.32 ERA, 28.8% strikeout rate, 8.8% walk rate and 55.7% ground ball rate. He averages about 96 mph with his four-seamer and sinker while also featuring a slider and a changeup.

Now that he has been designated for assignment again, he is in DFA limbo and can be there for a week at most. The waiver process takes 48 hours, so the club could hold him for the next five days while exploring trade interest, but they could also put him back on the wire sooner if they so choose.

Photo courtesy of Denis Poroy, Imagn Images

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Atlanta Braves Baltimore Orioles Transactions George Soriano Jose Suarez

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Giants To Sign Harrison Bader

By Steve Adams | January 26, 2026 at 12:46pm CDT

The Giants have a notable upgrade to their outfield defense in place, reportedly agreeing to a two-year, $20.5MM contract with free agent outfielder Harrison Bader. The Vayner Sports client can earn an additional $500K via incentives, bringing the deal’s maximum value to $21MM.

Bader, 31, has been a free agent for three consecutive offseasons but now lands the multi-year deal that’s previously eluded him. He signed one-year deals with the Mets and Twins, respectively, over the past two winters. Bader turned in a career-best performance in Minnesota and was red hot for the Phillies down the stretch after joining them in a deadline swap, and the market has rewarded that strong 2025 performance.

In 501 plate appearances between Minnesota and Philadelphia last year, Bader slashed .277/.347/.449 with 17 homers, 24 doubles, a triple and 11 steals (albeit in 18 attempts). His 7.8% walk rate was the second-best he’s posted in a 162-game season, though 2025’s bloated 27.1% strikeout rate was also his worst full-season mark since 2019. Much of Bader’s success can be attributed to an increase in playing time and a hefty .359 average on balls in play, but it bears mentioning that his 10.2% barrel rate and 40.3% hard-hit rate were personal bests in a full big league season.

Strong as last year’s performance was — 22% better than league-average, by measure of wRC+ — offense has never been Bader’s calling card. He’s been clearly above average in four of his nine MLB campaigns, but on the whole, Bader is a .247/.313/.401 hitter in a bit more than 3000 career plate appearances, which just barely shy of average. His glovework, however, is among the best in all of baseball, regardless of position.

Bader has played 5925 innings of center field defense in his career and been credited with a gaudy 51 Defensive Runs Saved and 67 Outs Above Average. He played more left field than center field in Minnesota, largely in deference to Byron Buxton, and notched positive marks in both DRS (7) and OAA (3) through 496 frames.

Overall, Bader has played 6799 innings of outfield defense in the majors, dating back to his 2017 MLB debut. In that time, only four outfielders — Mookie Betts, Kevin Kiermaier, Daulton Varsho, Michael A. Taylor — have bested his 67 DRS. No outfielder in that time has topped Bader’s 77 OAA. Francisco Lindor, Nick Ahmed, Nolan Arenado and Ke’Bryan Hayes are the only four majors leaguers at any position with a better OAA total in that time.

With Bader turning 32 in June, it’s fair to at least wonder whether he’ll begin to slow down over the next two seasons. However, there’s no reason to think that’ll be the case — at least based on recent history. This past season’s average sprint speed of 28.8 feet per second was actually an improvement over Bader’s 2024 mark of 28.2 ft/sec and right in line with his 2023 mark. He’s no longer covering the flat-out elite 30 ft/sec he did earlier in his career, but Bader’s 2025 sprint speed still landed in the 85th percentile of all big league position players. He’s a clear plus runner.

It’s a near certainty that Bader will take that plus speed and range to Oracle Park as the Giants’ new center fielder. Jung Hoo Lee handled the bulk of center field work in San Francisco this past offseason but ranked as one of the worst defenders in the game along the way (-18 DRS, -5 OAA). Lee’s arm strength sat in the 91st percentile of big league outfielders, per Statcast, but his range was near the bottom of the scale. Lee should have the arm to move to right field, where his lack of range would be better suited. Even if Bader’s bat regresses and checks in a bit shy of average, the defensive upgrade alone will be enormous for the Giants.

Assuming even distribution of that $20.5MM, Bader’s contract bumps San Francisco’s actual cash payroll to a projected $195MM, per RosterResource. Their luxury tax payroll is quite a bit higher, clocking in at about $221.5MM, but that still leaves more than $20MM between their current standing and the $244MM threshold at which luxury penalties begin. San Francisco has paid the tax in the past, but only rarely. They were over the line in 2024, which stands as their only time exceeding the threshold in recent memory.

For the time being, it doesn’t seem likely that the Giants will climb back to that level of spending. San Francisco is in the market for a second baseman but has been looking at the trade market — specifically, affordable targets like CJ Abrams and Brendan Donovan (“affordable” in terms of salary — not necessarily prospect capital). They’ve added Adrian Houser and Tyler Mahle to the rotation and could continue to poke around the rotation and bullpen markets, but ownership has publicly expressed an aversion to signing any free agent pitcher to a long-term deal, making a run at a top free agent like Framber Valdez feel unlikely.

Ken Rosenthal of The Athletic first reported the two-year agreement. Jon Heyman of the New York Post first reported the financial terms.

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Newsstand San Francisco Giants Transactions Harrison Bader

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Trey Mancini, Angels Agree To Minor League Deal

By Steve Adams | January 26, 2026 at 11:27am CDT

The Angels have agreed to a minor league contract with first baseman/outfielder Trey Mancini, reports Ken Rosenthal of The Athletic. Presumably, the Frontline client will be in big league camp as a non-roster invitee next month.

A focal point in the Orioles’ offense from 2017-21, Mancini was once a consistent 20-homer threat who topped out with 35 round-trippers in 2019’s juiced-ball season. His career — and life — were thrown into chaos when he was diagnosed with Stage 3 colon cancer prior to the 2020 season. Mancini announced nine months later that he’d wrapped up a chemotherapy regimen and was cancer-free. He made an inspirational return to the diamond in 2021 and hit .255/.326/.432 with 21 home runs during the 2021 season.

Mancini’s 2022 season was split between Baltimore and Houston, who acquired him at the trade deadline. His rate stats slipped to .239/.319/.391, but his track record was still enough to net him a two-year deal in free agency. That deal with the Cubs didn’t pan out. Mancini was cut loose after hitting .234/.299/.336 in 79 games in 2023, and he hasn’t played in the majors since.

Out of baseball entirely in 2024, Mancini returned to the game on a minor league deal with Arizona last year. He slashed .308/.373/.522 (110 wRC+) in 335 plate appearances with the D-backs’ Triple-A affiliate in Reno before opting out of the contract in June. A big league offer didn’t materialize, and Mancini did not return to the field in 2025.

As Rosenthal explores at length in a full column, the Angels deal reunites Mancini with former Orioles slugger and VP of baseball operations Brady Anderson, who accepted his first major league coaching gig this offseason when he agreed to become the hitting coach in Anaheim. For part of a deep dive into Anderson’s history and next chapter, Rosenthal chatted with Mancini, who credits Anderson with keeping his career going. Mancini tells Rosenthal that he was “at peace being done” after being cut from a minor league deal with the Reds during spring training last year. Anderson, however, invited Mancini to come hit with him and got him back on track before that minor league deal with the Diamondbacks.

Mancini will be 34 in March and hasn’t taken a major league plate appearance in nearly 30 months. He’ll obviously be a long shot to break camp on the Angels’ roster or even to be called to the majors at any point this coming season. Last year’s run in Reno shows that he still has some life in his bat, however, and the Angels’ lineup is hardly lacking in opportunity.

First baseman Nolan Schanuel has been a hit-over-power first baseman with below-average defensive grades since being rushed to the majors just two months after his selection as a first-rounder in 2023. Oft-injured Mike Trout and rebound hopeful Jorge Soler will be splitting time between designated hitter and the outfield corners. Bench options for new manager Kurt Suzuki include out-of-options infielders Oswald Peraza and Vaughn Grissom, waiver addition Wade Meckler, and outfielders Kyren Paris, Matthew Lugo and Bryce Teodosio. Paris and Lugo both fanned in more than one-third of their major league plate appearances last year. Teodosio is a 26-year-old former undrafted free agent who hit .203/.248/.304 in 50 games as a rookie last year.

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Los Angeles Angels Transactions Trey Mancini

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Cubs, Dylan Carlson Agree To Minor League Deal

By Steve Adams | January 26, 2026 at 10:26am CDT

The Cubs have agreed to a minor league contract with free agent outfielder Dylan Carlson, as first reported by Greg Zumach. The ALIGND Sports client receives a non-roster invitation to major league spring training, where he’ll compete for a bench job.

Carlson is the second veteran outfielder to sign a minor league deal with the Cubs in the past week. Former Astros outfielder Chas McCormick also received an NRI from Chicago and will be in the mix for a bench spot.

The 27-year-old Carlson was the No. 33 overall pick in the 2016 draft by the Cubs’ archrivals in St. Louis. He ranked as one of the ten best prospects in the sport prior to his big league debut and had a nice showing in his first full season back in 2021 (.266/.343/.437, 18 homers) but has seen his bat stall out since. Carlson was a league-average hitter in 2022, but in three subsequent big league seasons has mustered only a .210/.294/.314 batting line in 761 trips to the plate between the Cardinals, Rays and Orioles. He’s dealt with shoulder, ankle, hamstring, thumb and wrist injuries along the way. The ankle injury, suffered in 2023, required season-ending surgery.

Carlson, a switch-hitter, had an uncharacteristically poor showing against left-handed pitching last year, but that came in a small sample with Baltimore. He’s been good against lefties throughout his career, hitting them at a .274/.347/.410 clip in 566 plate appearances. His left-handed swing and approach haven’t been nearly as refined; in 1421 turns at the plate versus right-handed pitching, he’s a .217/.298/.356 hitter.

The versatile Carlson can handle any of the three outfield spots, though his defensive grades in center field have slipped in small samples over the past couple seasons. Statcast graded his sprint speed comfortably above average earlier in his career, but Carlson was closer to the mean in 2025, sitting in the 56th percentile of big leaguers in that regard. He typically shows plus arm strength, based on the velocity of his throws from the outfield, but was closer to average in that regard this past season as well.

Carlson may not have developed into the star the Cardinals hoped, or even a quality regular, but if he can get back on track against left-handed pitching and play solid defense across the three outfield spots, he’s a fine fourth outfielder. Chicago’s outfield is set with Ian Happ, Pete Crow-Armstrong and Seiya Suzuki lining up from left to right, but Crow-Armstrong hit only .188/.217/.376 against lefties this past season.

If the Cubs want to give Crow-Armstrong some breaks against tough southpaws or even move to more of a platoon system, Carlson’s skill set could lend itself well to a complementary role, though the same could be said for fellow NRI McCormick. Waiver claim Justin Dean and prospect Kevin Alcantara are both on the 40-man roster as well. Both hit from the right side of the plate and can handle all three outfield spots.

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Chicago Cubs Transactions Dylan Carlson

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The Opener: Darvish, Guardians, Sugano

By Nick Deeds | January 26, 2026 at 8:56am CDT

Here are three things we’ll be keeping an eye on around the baseball world throughout the day today:

1. Darvish contemplating retirement:

Over the weekend, Padres right-hander Yu Darvish clarified reports that he was poised to retire by noting that, while he has indeed contemplated calling it a career, he has not yet made a final decision. Negotiations between himself, the Padres, and the MLBPA regarding the final years of his contract remain ongoing.

Darvish underwent surgery on his UCL in November that will cost him the entire 2026 season. He’s owed $43MM total over the 2026-28 seasons. If he does decide to hang up the spikes and the Padres are able to work out a deal with him and the MLBPA to lessen the short-term financial burden of the right-hander’s contract, that could help create some additional financial flexibility for San Diego as soon as this offseason. The Padres are known to be interested in adding another starter and a right-handed bat to their first base/DH mix, and more budget flexibility could aid those pursuits.

2. What’s next for Cleveland after the Ramirez extension?

Seven-time All-Star and future Hall of Famer Jose Ramirez has never been shy about his desire to play his entire career in Cleveland, and after his latest extension with the club he appears all but guaranteed to do so. Ramirez signed a seven-year deal that overwrites the remaining three years on his current extension, keeping in him town through his age-39 season while also guaranteeing him an extra $106MM in new money. The deal comes with significant deferred money and takes the short-term price tag of Ramirez’s contract down by about $24MM over the next three years. If that financial flexibility is used to improve the club in the short-term, the Guardians could take the opportunity to add some much-needed right-handed help in the outfield. Harrison Bader, Austin Hays and Miguel Andujar are among the remaining free agents who’d fit that bill.

3. Will Sugano find a role in MLB?

NPB legend Tomoyuki Sugano came over to MLB for the first time last year and pitched his age-36 season as a member of the Orioles. The righty posted a 4.64 ERA with a 5.36 FIP across 157 innings of work. He led the AL in home runs allowed with 33 and struck out just 15.7% of his opponents. Despite his rough inaugural season in the majors, Sugano made clear over the weekend he wants to keep pitching in the U.S. rather than return to NPB in Japan.

Even with last year’s flaws, Sugano did manage to make all 30 of his starts last year for Baltimore, and he only walked 5.3% of his opponents. If nothing else, he could be an innings-eating fifth starter for a club with young and/or inexperienced rotation groups. Plenty of competition remains on the market ranging from Chris Bassitt to Lucas Giolito to Justin Verlander, but Sugano should have a lighter price tag than many of his veteran counterparts on the market. Will he find a role?

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The Opener

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The Pirates’ Rotation Options

By Charlie Wright | January 25, 2026 at 10:55pm CDT

Pittsburgh has spent the majority of the offseason focused on hitting. For a club that finished dead last in scoring last season, the approach makes sense. The Pirates parted with a pair of young starters to acquire more bats. The team sent Mike Burrows to Houston in a three-way trade that netted them Brandon Lowe and Jake Mangum. Pittsburgh moved Johan Oviedo to Boston for Jhostynxon Garcia. The deals have left them with a void to fill at the end of the rotation.

Paul Skenes, Bubba Chandler, and  Mitch Keller are the locks. Braxton Ashcraft has a decent claim to the No. 4 spot. The young righty initially worked as a multi-inning reliever before transitioning to a starting role. Ashcraft either started or piggybacked with another starter in his final nine appearances. He allowed two earned runs or fewer in all but one outing in that stretch.

Jared Jones would be the obvious choice to round out the group if he were healthy, but the right-hander underwent UCL surgery in May. He expressed optimism about his progression at PiratesFest this week. Jones told reporters, including Colin Beazley of the Pittsburgh Post-Gazette, that he’s worked up to two bullpens a week and has been mixing in offspeed pitches. Even with the encouraging results, Jones will be hard-pressed to be ready for Opening Day. The recovery timeline for the surgery is typically 10 to 12 months. Pittsburgh is likely to take it slow with its prized asset.

Here’s a look at the top candidates to open the season as Pittsburgh’s fifth starter. Given Chandler’s inexperience and Ashcraft’s limited workload, there could be an opportunity to remain in the rotation even after Jones’ return.

The Incumbent: Carmen Mlodzinski 

Of the current Pirates not named Skenes or Keller, Mlodzinski made the most starts last season. He tossed a career-high 99 innings between the rotation and the bullpen. Mlodzinski made nine starts to begin the year, but put up an ERA well over 5.00. He found himself at Triple-A Indianapolis by mid-May. The 26-year-old returned to the big-league club in June, operating primarily as a reliever. He chipped in a handful of spot starts down the stretch.

Mlodzinski has been a valuable member of the pitching staff since debuting in 2023. He’s compiled a 3.25 ERA across 109 games. The adjustment to starting just hasn’t suited him, at least not yet. Mlodzinski has a 4.47 ERA as a starter, compared to a 2.71 mark as a reliever. He would seem to have a deep enough arsenal to get through the order multiple times, as he threw five different pitches at least 10% of the time in 2025, but the results haven’t shown it. Opponents have hit just .214 against Mlodzinski the first time through the order. That number jumps to .381 the second time through the order. Mlodzinski is probably best used in a versatile role, instead of as a locked-in rotation piece.

The Rookies: Thomas Harrington and Hunter Barco

Pittsburgh’s second and third picks in the 2022 draft are on the verge of contributing with the big-league squad. Both Harrington and Barco made their debuts this past season, but only for a handful of appearances apiece. They have options remaining and are long shots to make the Opening Day roster, but they’d be the most intriguing choices.

Harrington had moved swiftly through Pittsburgh’s system until hitting a roadblock in 2025. After pitching decently at Triple-A to close the 2024 campaign, he struggled mightily at Indianapolis last year. Harrington stumbled to a 5.34 ERA with a middling 21.7% strikeout rate. After posting above-average strikeout numbers at previous stops, Harrington has failed to reach 22% in both stints at Triple-A. He was hammered for 15 earned runs over 8 2/3 innings in his brief MLB time.

Barco didn’t reach Triple-A until May. He kept his ERA under 4.00 with more than a strikeout per inning, though it came with a career-worst 13% walk rate. His swing-and-miss numbers have been much more impressive than Harrington’s, but the control has been a step behind recently. Barco tossed three scoreless innings with the Pirates at the tail end of the season. The fact that he succeeded in his cup of coffee and Harrington flopped might be enough to give him the edge on a roster spot. Barco would also give Pittsburgh a lefty in the rotation.

The Classic Pittsburgh Free Agent

Speaking of lefties, we’ve arrived at the most likely scenario. Pittsburgh has a penchant for relying on veteran southpaws to eat innings at the back of the rotation. As MLBTR’s Anthony Franco pointed out, Jose Quintana, Martín Pérez, and Tyler Anderson have all fit the bill in recent seasons. It was Andrew Heaney and trade acquisition Bailey Falter this past year.

General manager Ben Cherington has mentioned adding to the rotation. Quintana, Anderson, and Perez are still available. How about Patrick Corbin? After being one of the worst pitchers in the league in his final years in Washington, he had a resurgence of sorts in Texas last year. Corbin navigated his way to a sub-4.00 ERA through July. He was knocked around over the final two months of the season, but he put together a respectable first half. The 36-year-old Corbin could be the next soft-tossing lefty to find success at PNC Park.

Photo courtesy of Nathan Ray Seebeck, Imagn Images

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MLBTR Originals Pittsburgh Pirates Carmen Mlodzinski Hunter Barco Jared Jones Thomas Harrington

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