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The Opener: Arbitration Filing Deadline, Rooker, White Sox

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Here are three things we’ll be paying attention to around baseball this Thursday:

1. Arbitration filing deadline:

By noon CT this afternoon, all arbitration-eligible players must either agree on a contract for the 2025 season or both player and team must file for arbitration. The deadline for both sides to submit arbitration figures is later this evening at 7:00 PM CT. That means you can expect a significant number of players to sign their deals for the upcoming season today. While teams and players can continue negotiations after the filing deadline, many teams take what is known as a “file-and-trial” approach. In other words, they shut down contract discussions after the filing deadline and take all undecided cases to arbitration hearings.

You can find every arbitration-eligible player’s projected salary (from MLBTR contributor Matt Swartz) here.

2. Brent Rooker press conference:

After officially announcing Brent Rooker’s five-year, $60MM contract extension on Wednesday, the Athletics will hold a press conference to discuss the move today in Sacramento (per Martín Gallegos of MLB.com). Rooker, 30, is coming off of a phenomenal year for the A’s. He ranked fifth in the American League in home runs, third in RBIs, and sixth among qualified AL batters in OPS and wRC+. At season’s end, he was awarded the AL Silver Slugger at DH and finished 10th in AL MVP voting. With the A’s forced to increase payroll this winter, it makes perfect sense they chose to extend their best hitter on a deal that buys out all three of his arbitration seasons and at least two free agent years.

3. Another 40-man move incoming from the White Sox:

The White Sox have already made a handful of 40-man roster moves in the past few weeks, such as DFAing Corey Julks, Braden Shewmake, and Jacob Amaya to make room for Cam Booser, Tyler Gilbert, and Josh Rojas, respectively. Soon, Chicago will have to make another transaction before finalizing the team’s biggest (relatively speaking) offseason addition yet: Martín Pérez.

The veteran starting pitcher agreed to a one-year, $5MM contract with the White Sox on Wednesday. Before officially announcing the deal, the club must open a space for Pérez on the 40-man roster. The last several players the White Sox have DFA’d have all been position players, making it increasingly likely they will part with a pitcher to add the southpaw Pérez.

Braves Sign Eddy Alvarez To Minor League Deal

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The Braves have signed infielder Eddy Alvarez to a minor league contract, as reflected on his transaction log at MLB.com. Alvarez, 35 at the end of the month, joins his seventh organization for what will be his 12th professional season.

After seven years in the minor leagues with the White Sox and Marlins, Alvarez made his big league debut for Miami in 2020. He has since appeared in 63 MLB games for the Marlins, Dodgers, and Mets between 2020-24, slashing .170/.257/.244 with one home run and four stolen bases. Primarily an infielder with experience at second base, third base, and shortstop, he also played a handful of games in the outfield with the Dodgers in 2022.

In between his MLB stints with the Dodgers and Mets, Alvarez played in the Brewers (2023) and Red Sox (2023-24) farm systems. He signed a minor league deal with the Brewers ahead of the 2023 season, and despite a strong performance at Triple-A, Milwaukee never called him up, prompting him to opt out of his contract in July. He quickly signed a new minor league pact with the Red Sox, only to suffer a season-ending injury after just one game at Triple-A Worcester.

Alvarez’s 2024 campaign with Worcester was more successful, and although he never earned a promotion to the Red Sox, he played well enough to catch the Mets’ eye in September. New York acquired him from Boston for cash and selected his contract the following day. His appearance for the Mets as a pinch-runner on September 9 marked his first MLB action in more than two years. He ended up sticking on the big league roster for the rest of the regular season, although he was ineligible for postseason play because he joined the organization in September.

Alvarez will now look to return to the majors with the Braves in 2025. His chances of cracking the Opening Day roster are slim, but considering Atlanta’s lack of infield depth, he certainly has a shot to join the active roster at some point if he performs well enough at Triple-A.

Yankees Have Shown Interest In Jorge Polanco

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The Yankees have filled most of their biggest holes this winter, adding a closer (Devin Williams), a frontline starting pitcher (Max Fried), an outfielder (Cody Bellinger), and a first baseman (Paul Goldschmidt). Nonetheless, general manager Brian Cashman still has work to do. For one thing, New York could use a replacement for long-time middle infield stalwart Gleyber Torres, who signed with the Tigers in December. Notably, the Yankees did not make an effort to re-sign Torres after he became a free agent. However, they have been linked to various other infielders this offseason, including free agent Brendan Rodgers and trade candidate Luis Arraez. Most recently, Mark W. Sanchez of the New York Post identified Jorge Polanco as another potential target. The Yankees have reportedly “checked in” on Polanco, who is a free agent for the first time in his career.

After spending the first 10 seasons of his big league tenure with the Twins, Polanco suited up for the Mariners in 2024. He played all of his defensive innings at second base. The 31-year-old was once a shortstop and has some experience at third base, but the keystone has been his primary home for the past four seasons. Presumably, that’s where the Yankees would be interested in having him play. Jazz Chisholm Jr.’s flexibility allows New York to pursue an upgrade at either second or third base, with Chisholm covering whichever position is left. Considering Polanco’s limited experience at the hot corner (24 games, 180.0 innings), it would seem to make the most sense to keep Chisholm at third.

Whichever team ultimately signs Polanco will be betting on him as a bounce-back candidate for 2025. From 2021-23, the switch-hitter was one of the better offensive second basemen in the game. Over 336 games, he hit 63 home runs with a .796 OPS and a 120 wRC+. His wRC+ was at least 19% better than the average second baseman’s in all three seasons. However, Polanco’s strong bat disappeared in 2024. His .651 OPS and 92 wRC+ were below average, even considering the lower offensive standards at second base. To make matters worse, his defense – which has never been his strong suit – was worse than ever. With -1 DRS, -10 OAA, -8 FRV, and -3.7 DRP, he either tied or sunk beneath his career lows in all four metrics.

For what it’s worth, Polanco spent time on the IL with a right hamstring injury in May and June and reportedly played through a left knee injury for much of the season. He had surgery on his knee this offseason and is expected to be ready for spring training. Perhaps a healthier Polanco will be able to hit more like his old self. To that point, ESPN’s Jeff Passan suggested the injury had a particular effect on the switch-hitter’s performance as a lefty batter. Polanco’s 94 wRC+ as a righty batter in 2024 was right in line with his career average of 95. On the flip side, his 91 wRC+ as a lefty batter in 2024 was significantly worse than his career 115 wRC+ from the left side.

Even at full strength, Polanco doesn’t offer quite as much upside as Torres. However, it’s not far-fetched to think Polanco could replace the offensive production the Yankees got out of Torres in 2024. This past season was also a down year for the younger infielder. Over 154 games, he hit for a .709 OPS and 104 wRC+. Funnily enough, those numbers are almost right in the middle of what Polanco produced in 2023 and ’24. He might not be the most exciting infielder the Bronx Bombers have been connected to this winter, but if the veteran can split the difference between his past two seasons, he’ll help the Yankees make up for what they lost.

Dodgers Sign Hyeseong Kim

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With hours left to go before his posting window closes, Hyeseong Kim and the Dodgers signed a three-year contract worth $12.5MM. The deal includes a two-year club option (which would need to be exercised together) covering the 2028-29 seasons. If the Dodgers exercise the option, they’d pay an additional $9.5MM over those two years. Los Angeles designated catcher Diego Cartaya for assignment to open a 40-man roster spot. Kim is represented by CAA Sports.

Kim’s former team, the Kiwoom Heroes, officially posted him on December 5, giving him until 4:00 PM CT this afternoon to sign with an MLB club. As the days ticked by and the rumor mill remained relatively quiet, it seemed like a legitimate possibility that Kim would return for one more season with the Heroes. Instead, the Dodgers, who hadn’t been closely linked to Kim this winter, swooped in and made a winning offer in the nick of time. In addition to Kim’s salary, the Dodgers will have to pay a $2.5MM release fee to the Heroes (20% of the guaranteed $12.5MM on his deal). Their total investment is $15MM.

Kim, soon to be 26, is a four-time consecutive winner of the KBO Golden Glove Award, given annually to the best overall player at each position. He won the award at shortstop in 2021 before moving to second base and winning each year from 2022-24. In addition to playing a strong second base and at least a capable shortstop, Kim is also an asset on the basepaths. He led the KBO in stolen bases in 2021 and has swiped at least 20 bags in all seven full seasons of his career. His glove and legs should give him a relatively high floor as a utility player in MLB, if nothing more.

The big question is how Kim’s bat will hold up against MLB pitching. While he struggled at the plate early in his career, the lefty batter blossomed into a well-above-average hitter during his last three years in the KBO. From 2022-24, he produced a .326 batting average and a .384 OBP, while his wRC+ was never below 118 in any season. However, Kim has never hit for much power, even by the slightly lower power standards of the KBO. His 2024 season was the best of his career power-wise – he reached double-digit home runs for the first time – but his .132 isolated power was still below league average.  Thus, it’s fair to worry that Kim might not have the necessary power to be an everyday player in MLB. Just look at his former KBO teammate Ha-Seong Kim. Ha-Seong Kim was a genuine power threat in the KBO, socking 30 homers in 138 games during his final season in Korea. Since coming to MLB, he has become known as a soft-hitting contact specialist. His career .137 ISO in MLB is 15% worse than the league average over the last four years.

When MLBTR ranked Hyseong Kim at no. 26 on our Top 50 Free Agents list, we predicted he’d sign a three-year, $24MM contract. His actual deal guarantees him a little more than half of that predicted salary. That said, it’s worth mentioning that Kim reportedly turned down more money from at least one other team. A representative from Kim’s agency, CAA Baseball, told a Korean media outlet (passed along by Jeeho Yoo of Yonhap News) that the Angels offered him a five-year, $28MM deal, while the Mariners, Cubs, and Padres also made offers with undisclosed terms. Jeff Fletcher of the Orange County Register contradicts that report. According to Fletcher, the Angels made an offer to Kim but did not top what he received from the Dodgers.

To that point, Kim might not have a guaranteed starting role in L.A. The Dodgers already have Gavin Lux to play second base, Mookie Betts at shortstop, and Max Muncy holding down the hot corner. Furthermore, they have the talented defensive shortstop Miguel Rojas and the versatile Chris Taylor on the bench. Center fielder Tommy Edman can also play all around the infield.

According to Fabian Ardaya of The Athletic, Kim will play a “super-utility role” in 2025. The use of the prefix “super” seems to imply that he’ll be playing several positions. While he has significant experience at both shortstop and second base, he has only played a handful of games at third base in his professional career. He also played 44 games in left field during the 2020 season, and it will be interesting to see if the Dodgers consider using him in the outfield at all. As a “super-utility” player, Kim will presumably have a bigger role than that of a typical bench bat, but with so much competition on the Dodgers’ talent-filled roster, he’ll have to earn his playing time.

The fact that the Dodgers signed Kim despite already having so many infielders is evidence of how much this team values depth and flexibility. It’s also a sign of how much they value what Kim can bring to the table. Funnily enough, manager Dave Roberts has already made his team’s affinity for Kim quite clear. After the Dodgers played an exhibition match against the Korean national team last March, Roberts told reporters (including Yoo), “Our scouts like the second baseman: just the way his body moves.” That second baseman, of course, was Kim.

Various reports out of South Korea were first with the news that Kim was signing with Los Angeles on a three-year deal with a two-year club option. Jon Heyman of the New York Post was first to report the $12.5MM guarantee and the $22MM maximum value.

Mets Notes: Manaea Contract Details, Alonso

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After previously reporting that Sean Manaea’s deal with the Mets would include $23.25MM in deferred payments, Will Sammon of The Athletic offered more details on the structure of Manaea’s contract this morning.

Manaea will earn equal $25MM salaries in all three years of the deal, adding up to the reported total guarantee of $75MM. However, $7.75MM of his salary will be deferred without interest each season, adding up to the reported total of $23.25MM in deferrals. As Sammon previously mentioned, the deferrals will be paid out in equal portions over 10 years from 2035-44. Sammon also notes that Manaea can earn standard additional incentives for making an All-Star appearance ($50K), winning a Gold Glove ($50K), winning LCS MVP ($50K), winning World Series MVP ($100K), and finishing top-three in Cy Young voting ($50K for first place, $25K for second place, $10K for third place).

The deferred payments mean that Manaea’s contract isn’t quite worth $75MM in present-day value. Therefore, the luxury tax hit for the Mets won’t be quite as high as his $25MM AAV. Jon Becker of FanGraphs suggests the present-day value of his AAV for luxury tax purposes is just over $22MM. That’s not entirely insignificant to the Mets, who will be paying the luxury tax once again in 2025. It’s also interesting that Manaea’s contract is about $1MM less valuable than the three-year, $67MM deal his former teammate Luis Severino signed with the Athletics. Jon Heyman of the New York Post reported last week that Manaea turned down that same offer from the A’s before they gave it to Severino instead. Of course, it’s not hard to understand why Manaea would rather pitch for the Mets than the A’s, but it’s interesting that he technically took a discount to re-sign with New York.

In another Mets update, Sammon theorizes that “contract length” is currently what’s holding up a deal between the Mets and Pete Alonso. Heyman recently made a similar suggestion, saying “I do think the years are the hang-up right now” (per Jon Heyman’s Insider Notebook on Bleacher Report). Back in December, Bob Nightengale of USA Today reported the Mets were still “pushing hard” to reunite with Alonso. From Alonso’s perspective, it’s hard to picture a better fit than the only team he’s ever known. Yet, a deal hasn’t come together. A disagreement over contract length could certainly explain why.

Presumably, Alonso and his agent Scott Boras are still looking to beat the guaranteed money from the seven-year, $158MM extension he reportedly turned down from the Mets in the summer of 2023. To do so, he’d need to sign for at least $137.5MM this winter (he already earned the first $20.5MM in 2024 during his final year of arbitration). It’s hard to imagine Alonso approaching that number on anything shorter than a six-year contract. Meanwhile, it’s not hard to understand why teams would balk at offering a six-year contract to a 30-year-old first baseman coming off two consecutive down years.

Red Sox To Keep Ceddanne Rafaela In Center Field “As Much As Possible”

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The Red Sox made a big investment in Ceddanne Rafaela last season, extending the youngster on an eight-year, $50MM deal in April. At the time, he had just 38 MLB games under his belt. They weren’t the most successful 38 games, either. Rafaela had a .672 OPS and 76 wRC+ with an abysmal 6:37 walk-to-strikeout ratio. Despite his blistering speed, he only had four stolen bases to that point, and he had already been caught stealing twice. Yet, his elite defensive capabilities must have helped the Red Sox look past his struggles on the other side of the ball.

Rafaela was long praised for his outfield defense as a prospect, and he lived up to the hype in the majors. By the end of the 2024 season, he had racked up 12 Defensive Runs Saved and a +7 Fielding Run Value in just 748.0 career innings as a center fielder. On the one hand, we have to be careful when looking at defensive metrics in such a small sample size. On the other hand, if Rafaela could keep those numbers up over a full season of work, he’d be one of the best fielders in the sport.

As if his performance in center field weren’t impressive enough, Rafaela has also appeared in 87 games at shortstop, 14 games at second base, and 4 games at third in his brief MLB tenure. He had plenty of infield experience in the minors. In fact, he began his pro career as a full-time infielder in 2018 and didn’t play the outfield until 2021. However, he took to center field so naturally that it soon became his primary position. By the time he made his MLB debut, it seemed safe to say he was a full-time center fielder.

But not so fast. As Trevor Story spent significant time on the IL in 2023 and ’24, the Red Sox needed help in the infield. Rafaela started five games at shortstop during his brief big league cup of coffee in 2023. The following year, the Red Sox temporarily named him their primary shortstop when Story went down with a shoulder injury in early April. He ended up playing more shortstop than any position and more shortstop than anyone else on Boston’s roster.

Rafaela’s versatility proved to be invaluable to the Red Sox in 2024. Unfortunately, it quickly became clear that he wasn’t more than a backup plan at short. His defense at the position was poor according to just about every available metric. Over 692.0 career innings at shortstop from 2023-24, Rafaela has made six fielding errors and four throwing errors. He has -3 Defensive Runs Saved and a -8 Fielding Run Value. Once again, it’s important to take defensive metrics in a small sample size with a grain of salt. Still, it’s impossible not to notice the world of difference between Rafaela’s performance in center field and at shortstop.

With that in mind, it was hardly controversial when Chief Baseball Officer Craig Breslow told reporters (including Sean McAdam of MassLive) that the Red Sox plan to keep Rafaela in center field “as much as possible.” With Rafaela in center full-time, the Red Sox could play 2024 Gold Glove finalist Jarren Duran in left field and 2024 Gold Glove winner Wilyer Abreu in right, giving them, perhaps, the best defensive outfield in the sport. Yet, McAdam raises the question of what Boston will do once star prospect Roman Anthony is ready for the majors. That shouldn’t take long, considering Anthony put up a .982 OPS and a 162 wRC+ in 35 games at Triple-A last season. Neither Anthony nor Duran is quite as talented as Rafaela in center field, but both can play the position. More to the point, Rafaela has shown far less promise at the plate. Duran has an .832 OPS and a 126 wRC+ over the past two seasons, while Anthony has spent the last two years tearing up the minor leagues. Similarly, Abreu has a .794 OPS and a 117 wRC+ over 160 MLB games. No matter how strong Rafaela’s defense might be, his .664 OPS and 79 wRC+ in 180 career games pale in comparison to those numbers.

Despite a potential logjam in the outfield, Breslow made it clear that the Red Sox don’t want Rafaela playing the infield (per McAdam). That’s not exactly a shocking revelation. After all, Rafael Devers has third base on lock, and Story should be the full-time shortstop as long as he’s healthy. Boston doesn’t have a guaranteed starter at second base, but David Hamilton was a stronger offensive player and a better infield defender than Rafaela in 2024. Vaughn Grissom has yet to show that he’s ready for regular playing time, but he’s still young, and presumably, the Red Sox would like to give him a chance to prove himself after an injury-plagued 2024 campaign.

Ultimately, however, this isn’t really about the other options in the infield. Simply put, the Red Sox want Rafaela to focus on the position where he’s most valuable. Indeed, Breslow thinks that moving between the infield and the outfield might have hampered his performance in both spots: “I’m not sure we saw the best of him even defensively because of the fact that he was switching back and forth between center and shortstop.”

It’s hard to argue with Breslow’s logic. At the same time, it’s worth wondering what the Red Sox plan to do with Rafaela once Anthony demands a promotion. Similarly, it’s worth wondering what this means about Boston’s purported pursuit of a right-handed bat. Could a slightly crowded outfield picture prevent Breslow from adding the righty bat his lineup so badly needs?

The simplest answer is that Rafaela can take on a fourth outfielder role if/when he finds himself squeezed out of the starting lineup. He could also be the short side of a platoon with Abreu, who struggles against southpaws. In addition, it’s not as if Breslow completely closed the door on Rafaela returning to the infield. Perhaps if Story suffers another injury, Rafaela will be back on the dirt after all. A role like that might not be what the Red Sox had in mind when they signed him to a $50MM contract, but it’s not as if his $1.25MM salary for the 2025 season is an overpay for a Gold Glove-caliber bench player. Maybe Boston will eventually try to trade an outfielder, but there’s no reason to think they’re in a rush to get Rafaela – or Duran, Abreu, or Anthony – off their hands. Besides, Anthony isn’t even on the 40-man yet, and there’s plenty that could happen to affect Rafaela’s potential role between now and Opening Day.

Image courtesy of Imagn.

Latest On Financial Dispute Between Nationals And Orioles, MASN

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The Mid-Atlantic Sports Network (MASN) is co-owned by the Orioles and Nationals, although the Orioles have a controlling stake. Since the network was established in 2005, the two clubs have regularly fought over how much money the Nationals should receive in rights fees each season. These disagreements have led to several court battles over the years.

Earlier this week, the Nationals filed a petition with the Supreme Court of New York, requesting that the court confirm a decision from MLB’s Revenue Sharing Definitions Committee. The committee found that the Orioles and MASN owe the Nationals approximately $320.5MM in TV rights fees to cover the 2022-26 seasons (per Matt Weyrich of The Baltimore Sun). That would mean around $203.9MM in backpay for the past three seasons ($72.8MM for 2022 and ’23 and $58.3MM for ’24) and another $58.3MM in 2025 and ’26. To put those numbers in context, RosterResource estimates the Nationals spent around $130MM on player payroll in 2024.

As Weyrich points out, a quick resolution to this petition would mean the two clubs will be in agreement on a deal that holds for multiple years to come for the first time since 2012. As for whether or not the two sides will be able to stay out of court in 2027 and beyond? That remains to be seen. Orioles majority owner David Rubenstein previously spoke about his desire to move these discussions “away from the lawyers” but stopped far short of making any promises. “I don’t have an easy answer yet,” he said. “If it was easy, it would have been resolved” (per Weyrich).

The Nationals have been active this offseason, trading for Nathaniel Lowe, signing Josh Bell and Michael Soroka, and re-signing Trevor Williams. However, they have not made the kind of big splash (or even medium splash) that some thought they’d make this winter. With a projected 2025 payroll that is still $22MM below last year’s final figure and the possibility of more financial certainty if this $320.5MM agreement is confirmed, perhaps the Nationals will continue adding this offseason to supplement a roster full of talented but unproven young players.

The Opener: Kim, White Sox, White

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As the first weekend of 2025 approaches, here are three things we will be keeping an eye on around baseball:

1. Hyeseong Kim’s deadline to sign is fast approaching:

We don’t mean to sound like a broken record, but there’s a good reason why Hyeseong Kim is back at the top of The Opener for a second day in a row. The KBO star was posted last month, and his negotiating window officially opened on December 5, giving him 30 days to sign a contract with an MLB team. He now has less than eight hours remaining before his posting window closes this afternoon at 4:00 PM CT.

MLBTR ranked Kim at no. 26 on our Top 50 Free Agents list this winter, predicting he’d sign a three-year, $24MM deal. However, his name hasn’t come up in many rumors or reports since he was posted. If Kim does not sign today, he will return to his KBO team, the Kiwoom Heroes, for the 2025 season. As Jeeho Yoo of Yonhap News points out, Kim will be an unrestricted free agent next offseason, which means he won’t need to be posted a second time if he wants to pursue an MLB career. That could improve his chances of inking a deal. Not only will he have more time to negotiate, but his new team won’t be forced to pay a release fee to sign him.

2. White Sox 40-man move incoming:

The White Sox have a full 40-man roster, which means they’ll need to make space for Josh Rojas before they can finalize his signing. The free agent infielder reportedly agreed to terms on a one-year contract with Chicago on Thursday, but the team has yet to confirm the news. Financial details of the deal are something else to keep an eye out for this weekend – as of today, they have not been reported.

Earlier this week, the White Sox traded for left-handed Tyler Gilbert and designated infielder Braden Shewmake for assignment to make room on the roster. Thus, their 40-man is currently quite pitching heavy, featuring 24 arms and just 16 position players. With that in mind, it seems more likely the White Sox will cut a pitcher to free up space for Rojas.

3. Owen White’s DFA resolution:

After signing free agent reliever Hoby Milner, the Rangers DFA’d former top prospect Owen White to make room on the 40-man roster. Since then, White has been waiting in limbo. Typically, teams have seven days to resolve a DFA, but that timeline can be extended during the period between Christmas and New Year’s Day. Now that the holiday season is over, however, the Rangers will have to trade White or place him on waivers, presumably before the end of the weekend.

Jeff Hoffman Reportedly Seeking Deal In Same Range As Clay Holmes’s

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While free agent starting pitchers have done quite well for themselves this winter, free agent relievers aren’t exactly flying off the shelves. To that point, only two relievers from MLBTR’s Top 50 Free Agents list have signed so far, and both of them joined their new teams to be starting pitchers: Clay Holmes and Michael Soroka. It was particularly interesting to see Holmes sign as a starter. For one thing, he hasn’t started a game since his rookie season in 2018. What’s more, he has been one of the top relievers in the game over the past four seasons, pitching to a 3.05 ERA and 2.83 SIERA with 74 saves in 264 appearances. He was an All-Star in 2022 and ’24.

Jeff Hoffman is one of the aforementioned unsigned relievers from MLBTR’s Top 50 list. Like Holmes, he’s coming off an All-Star season out of the ’pen, but he is reportedly drawing interest as a starting pitcher. Indeed, ESPN’s Jeff Passan reported in mid-December that Hoffman had received “more interest from teams” as a starter. That helps explain why Hoffman seems to have set his sights on a deal in the same range as the three-year, $38MM contract Holmes landed from the Mets, according to Matt Gelb of The Athletic.

It’s not hard to understand why Hoffman would compare himself to Holmes. They’re both right-handed relievers with closing experience, and they’re less than three months apart in age. Then again, while Holmes has a longer track record of success, most metrics suggest Hoffman has been the better pitcher since he broke out as a high-leverage reliever partway through the 2023 campaign. In particular, he’s coming off a stronger 2024 season in almost every single statistical category, including strikeout rate, walk rate, innings pitched, ERA, SIERA, and all versions of WAR.

That’s precisely why MLBTR ranked Hoffman ahead of Holmes on our Top 50 list, predicting a four-year, $44MM contract for the former and a three-year, $30MM deal for the latter. Considering that Holmes was able to beat his predicted contract by $8MM, one might have thought Hoffman would be seeking even more – perhaps something closer to the four-year, $56MM deal we initially predicted for fellow free agent reliever Tanner Scott.

However, Hoffman and his agents have now had a couple of months to gauge interest on the open market, and one wonders if he’s discovered that teams aren’t valuing him significantly more than they valued Holmes. After all, it doesn’t seem as if the Mets vastly outbid every other suitor for Holmes’s services. Mere hours before he signed, Jayson Stark of The Athletic reported that Holmes was still choosing between numerous offers and that he had been in negotiations with several contending teams. Maybe one of those suitors could pivot to Hoffman instead, especially if he’s seeking a similar deal.

The Phillies were one of those contending clubs. They are also the only team that has been formally linked to Hoffman this offseason. Yet, after adding reliever Jordan Romano, starter Jesús Luzardo, and swingman Joe Ross, they’re almost certainly out on Hoffman.

Evidently, Hoffman has other suitors, but it’s not yet clear who they are. Other teams that were reportedly in on Holmes include the Orioles, Red Sox, and Blue Jays. The Orioles were interested in Holmes as a starter, but they’ve since signed Tomoyuki Sugano, likely filling that hole. The Blue Jays, meanwhile, were interested in Holmes as a reliever, and they have since signed Yimi García. It’s harder to say if that would preclude them from pursuing Hoffman. As for the Red Sox, it’s unclear if they wanted Holmes as a starter or a reliever, but it’s worth noting that they have added three starters since they were linked to Holmes (Garrett Crochet, Walker Buehler, and Patrick Sandoval), and they already have two potential closers at the back of their bullpen (Liam Hendriks and Aroldis Chapman).

Royals Re-Sign Austin Cox To Minors Contract

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The Royals have signed Austin Cox to another minor league contract. After electing free agency in November, the left-hander will return to the only MLB organization he’s known throughout his seven-year pro career. The team announced the signing this afternoon.

Cox, who turns 28 on Opening Day, first signed with the Royals as a fifth-round draft pick in 2018. After an impressive debut in Rookie ball that year, Cox began to appear on Royals top prospect lists around the industry. His 3.78 ERA in nine starts was solid, but what really turned heads was his 35.7% strikeout rate.  In addition, he gave up just one home run in 33 1/3 innings of work.

The lefty followed up his strong first impression with an equally promising performance in 2019. Cox looked sharp at both Single-A and High-A, pitching to a 2.76 ERA and 3.48 FIP in 130 2/3 innings across both levels. His 24.2% strikeout rate wasn’t nearly as high as it was at Rookie ball, but it was still quite good, and it came over a much larger sample size against more difficult competition. On top of that, he reduced his walk rate and continued to limit home runs.  Entering the 2020 season, both FanGraphs and Baseball America included Cox among their top 10 prospects in the Royals system; Keith Law of The Athletic ranked him at no. 12.

Unfortunately, Cox was unable to pitch in 2020 due to the lost minor league season, and he struggled at Double-A and (briefly) Triple-A in 2021. His fastball velocity fell and he cut his slider from his pitch mix, giving him a less imposing and less diverse arsenal. His strikeout rate continued to drop while his walk rate rose, and he surrendered 11 home runs in just 68 frames; that’s the same number of dingers he allowed the year before when he pitched almost twice as many innings. Thus, it was hardly surprising to see Cox plummet down prospect rankings during the 2021-22 offseason. Once a promising back-end starter, he seemed destined for a role in the bullpen instead.

Cox continued to start at Triple-A in 2022 and ’23 but failed to improve his results. In May 2023, he made his MLB debut out of the Royals bullpen. Although he had limited experience as a reliever, his big league career couldn’t have gotten off to a better start. He didn’t give up a hit until the 40th batter he faced. Unfortunately, his work was less impressive after that. Cox would ultimately pitch in 24 games for Kansas City that year: 21 relief appearances and three short spot starts. His numbers were serviceable but unspectacular for a lower-leverage swingman. He pitched to a 6.10 ERA and 4.71 FIP in 10 1/3 innings as a starter and a 3.91 ERA and 3.33 FIP in 25 1/3 innings out of the bullpen. A knee injury ended his season early, and the Royals designated him for assignment at the beginning of the offseason. He subsequently elected free agency.

Cox rejoined the Royals on a minor league contract shortly thereafter and spent the entire 2024 campaign with the Triple-A Omaha Storm Chasers. He exercised an opt-out clause in his contract in July but signed another minor league pact with the organization later that month. Thus, his new deal with the Royals is the third minor league contract he has signed with the team in the past 14 months. Presumably, he will continue to do exactly what he did in 2024: provide depth as a left-handed swingman at Triple-A. While his performance this past year didn’t prove good enough to earn him another chance with the big league club, there is clearly a strong relationship between pitcher and team that both sides are interested in carrying on.

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