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Reds Sign Keegan Thompson

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The Reds announced that they have signed Keegan Thompson to a one-year contract.  It is a Major League deal for the 30-year-old right-hander, and Gordon Wittenmyer of the Cincinnati Enquirer specifies the contract is a split deal that will pay Thompson $1.3MM for his time in the majors.  Another $100K in incentive bonuses is also available in the contract.

A career Cub since being drafted by Chicago in the third round of the 2017 draft, Thompson will now head elsewhere in the NL Central.  Thompson was a pretty decent reliever and even an occasional starter for the Cubs during the 2021-24 seasons, at least in terms of bottom line numbers.  The righty posted a 3.64 ERA over his 227 1/3 career innings in the majors, and his 3.94 SIERA wasn’t much higher.  Thompson had a respectable 23% strikeout rate but control was a bigger issue, as he had an 11.3% walk rate.

The Cubs seemed to fall out of favor with Thompson in the spring, as he was designated for assignment and then outrighted off the team’s 40-man roster.  The result was a 2025 season spent entirely in the minors, as Chicago didn’t select Thompson’s contract back to the active roster even when the team was hunting for bullpen reinforcements.  Thompson’s 4.50 ERA over 64 innings at Triple-A Iowa didn’t really help his case for a promotion, but he had a strong 29.5% strikeout rate and his walk rate was a more manageable 8.9%.

Thompson selected minor league free agency at season’s end.  He is out of minor league options, so that means the Reds will have to DFA and outright Thompson when and if they bring him to the active roster and then want to send him to the minors.  Now that Thompson has been outrighted, he has the right to elect free agency if he is ever outrighted again, though he would have to forfeit any guaranteed salary in that circumstance.

There’s not much risk for the Reds in bringing in Thompson as a low-cost depth option to at least check out during spring camp.  The split contract also gives the team a bit more flexibility in moving Thompson to the minors at least on the financial side, apart from the out-of-options hurdle.  Thompson is also arbitration-controlled through the 2027 season.

Frankie Montas Won’t Opt Out Of Final Year Of Mets Contract

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The Mets announced their full slate of option decisions, including the previously-unreported (but completely unsurprising) news that Frankie Montas won’t be triggering the opt-out clause in his contract.  The two-year, $34MM contract Montas signed last offseason allowed the right-hander to walk away from the deal after the first season, but Montas will stay put and earn another $17MM salary in 2026.

Shoulder surgery wiped out almost all of Montas’ 2023 season, and he returned to action to post a 4.84 ERA over 150 2/3 innings with the Reds and Brewers in 2024.  Despite the high ERA and some lackluster peripherals, Montas still landed the $34MM guarantee in free agency, with the Mets investing in their belief that Montas could fully rebound to his past status as a front-of-the-rotation arm with the A’s.

Instead, Montas delivered only a 6.28 ERA over 38 2/3 innings in 2025.  Things got off to a rough start in Spring Training when Montas suffered a lat strain that delayed his season debut until June, and he then pitched so poorly that the Mets moved him to the bullpen.  More major injury problems then emerged in late August, when Montas underwent a UCL-related surgery.  The specific type of the surgery isn’t known, but Montas will be out until August 2026 at the earliest if he underwent “only” a brace procedure, and a full Tommy John procedure will sideline him the entirety of the 2026 campaign.

Needless to say, it was a pretty easy call for Montas to remain in his Mets contract.  Regardless of his health, he might have thrown his last pitch in a New York uniform anyway since the Mets may very well release the righty now that his option decision has been made.  The Mets can’t put Montas on the 60-day injured list until Spring Training begins, and the team could decide that having an open 40-man roster spot is more valuable than keeping Montas around.

Mariners Exercise Andres Munoz’s 2026 Club Option

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The Mariners exercised their $6MM club option on Andres Munoz’s services for the 2026 season, according to reporter Francys Romero.  The total value of the option is actually $7MM, as Munoz unlocked four $250K bonuses based on his number of games finished in 2025.

There was zero suspense in the Mariners’ decision, as Munoz has become one of baseball’s top closers.  An All-Star in each of the past two seasons, Munoz posted a 1.73 ERA and 32.7% strikeout rate over 62 1/3 innings while recording 38 saves.  While he has a penchant for issuing walks, that’s the only blemish on an otherwise excellent resume for the hard-throwing righty.

The four-year, $7.5MM extension Munoz signed with the Mariners back in November 2021 has proven to be quite a bargain for the team.  The guaranteed portion of the extension is now through, but the M’s still control Munoz through 2028 via three club option years.  The 2027 option is worth $8MM and the 2028 option is worth $10MM, with more bonus money available based on games finished.

Between exercising Munoz’s option and declining their end of Mitch Garver’s mutual option yesterday, the Mariners have already completed a pretty easy slate of club-related options.  The one remaining option outside of the team’s hands is Jorge Polanco’s $6MM player option for 2026, and it is expected that Polanco will choose to re-enter free agency on the heels of a strong season.

Mets Exercise Club Option On Brooks Raley, Decline Drew Smith’s Club Option

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The Mets have exercised their $4.75MM club option on left-hander Brooks Raley for the 2026 season, according to MLB.com’s Anthony DiComo.  New York also declined its $2MM club option on right-hander Drew Smith for 2026, as per an MLBPA media release that listed Smith as a new entry to the free agent market.

Raley and Smith were each working on one-year contracts with the Mets in the wake of Tommy John surgeries.  Raley underwent his procedure in May 2024 and didn’t officially sign until last April, inking a deal that paid him $1.5MM in salary for 2025 plus the $4.75MM club option for 2026 (with a $300K buyout).  Smith’s deal from last February paid him $1MM for the 2025 season, and there was no buyout on his $2MM club option.

Raley also earned himself a $250K roster bonus for making it back to New York’s active roster before the 2025 campaign was out, as the southpaw was able to return just after the All-Star break.  In even better news for all parties, Raley looked sharp in posting a 2.45 ERA, 25.3% strikeout rate, and a 6.1% walk rate over 25 2/3 innings out of the Amazins’ bullpen.

While a .212 BABIP contributed to Raley’s success and his K% was below the 29% mark he’d posted in five seasons with the Mets, it was still a very good showing for a 37-year-old pitcher coming off such a major arm surgery.  As such, it was expected that New York would exercise Raley’s option to officially bring the reliever back into the fold.  The Mets will have to address a lot of rotation and bullpen needs this winter, but Raley’s return at least checks off one box.

Smith underwent a hybrid Tommy John surgery/brace procedure in July 2024 that ended up costing him the entirety of the 2025 campaign.  The righty’s rehab process went as far as some live batting-practice sessions, but Smith didn’t log any game action even in the minors.  Given the timing of Smith’s surgery and the fact that it is the second TJ procedure of his career, it isn’t surprising that Smith wasn’t able to make it back onto the field before season’s end.

It could be that another health issue has emerged that will delay Smith’s return even further, or the declined option could represent the Mets wanting a bit of extra flexibility.  Even if $2MM is a drop in their payroll bucket, the Mets might prefer keeping a 40-man roster spot open for now, and exploring another contract with Smith later in the winter.  Other teams could swoop in to negotiate with Smith in the interim, of course, but it could that Smith and the Mets have some sort of handshake deal to revisit talks once the Rule 5 Draft protection deadline is passed.

Smith has spent all six of his Major League seasons in a Mets uniform, posting a 3.48 ERA, 24.5% strikeout rate, and 9.3% walk rate over 196 1/3 career innings.  His control was becoming an issue over his last two seasons, yet in general, the 32-year-old Smith has been a solid bullpen arm capable of eating innings and providing reliable results.

Mets Acquire Joey Gerber

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The Mets have acquired right-hander Joey Gerber in a trade with the Rays, MLB.com’s Anthony DiComo reports.  Tampa Bay will receive cash in return for Gerber, who was one of six players the Rays designated for assignment yesterday.

After making his big league debut in the form of 17 games and 15 2/3 innings of 4.02 ball with the Mariners in 2020, Gerber then missed virtually all of the next three seasons due to back surgery and a Tommy John surgery.  He resurfaced to pitch in the Yankees’ farm system in 2024, and a subsequent minor league deal with the Rays last winter paved the way for his return to the Show.  Gerber appeared in two games (4 1/3 innings) for the Rays in September, posting a 2.08 ERA.

There is still a bit of a “work in progress” aspect to Gerber’s performance in the wake of such an extended layoff, as reflected by his 6.23 ERA over 43 1/3 innings with Durham last season.  An inflated .351 BABIP and a lot of home run problems contributed to Gerber’s ERA, but he has a 26.74% strikeout rate over 57 1/3 total frames at the Triple-A level.

It was enough to pique the Mets’ interest, and president of baseball operations David Stearns has long had a reputation for seeking out undervalued relievers with intriguing stuff.  Gerber has a minor league option remaining, which gives the Mets some extra roster flexibility if he does happen to make the team.

Diamondbacks Decline Elvin Rodriguez’s Club Option

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The Diamondbacks declined their $1.35MM club option on right-hander Elvin Rodriguez for the 2026 season.  A press release from the MLBPA broke the news by adding Rodriguez to its updated list of free agents, and reporter Francys Romero added the detail that Rodriguez is already receiving interest from teams in Asia.

Rodriguez is no stranger to playing overseas, having already spent parts of the 2023-24 seasons in Japan with the Yakult Swallows.  He delivered a 2.77 ERA over 78 innings in Nippon Professional Baseball, which led to a one-year split contract with the Brewers last winter to mark his return to MLB.  The deal contained both the club option and a $900K salary for Rodriguez’s time in the majors in 2025, which ended up being 19 2/3 innings of 9.15 ERA ball with the Brewers and Orioles.

Milwaukee was dealing with a ton of rotation injuries early in the season, which opened the door for Rodriguez to make the Opening Day roster and make two starts over his six total appearances for the Brew Crew.  After being designated for assignment in July, the O’s claimed Rodriguez but DFA’ed him as well in early September, upon which Arizona stepped in for another waiver claim.  The Diamondbacks didn’t give Rodriguez any looks on their active roster, and his time in the organization will now end after four Triple-A appearances.

Rodriguez made his MLB debut with the Tigers in 2022, and his total resume in the bigs consists of a 9.40 ERA over 52 2/3 total innings.  The righty allowed a whopping 21 homers within that small sample size, and keeping the ball in the park has been a consistent issue for Rodriguez even in his minor league career.  Notably, Rodriguez allowed just a single home run over 45 innings with the Swallows in 2024, which may be why he could again be considering leaving North American ball.  A deal with an international team would surely represent more guaranteed money for Rodriguez than a contract with an MLB team, as Rodriguez is likely facing just minor league offers this winter.

Offseason Outlook: Toronto Blue Jays

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After falling painfully short in the World Series, the Blue Jays now face the challenge of keeping their core roster together, starting with the possible departure of cornerstone Bo Bichette.

Guaranteed Contracts

  • Vladimir Guerrero Jr., 1B: $480MM through 2039
  • Andres Gimenez, 2B/SS: $86.5MM through 2029 (includes $2.5MM buyout of $23MM club option for 2030)
  • Jose Berrios, SP: $66MM through 2028 (Berrios can opt out of contract after the 2026 season)
  • Anthony Santander, OF/DH: $65.5MM through 2029 (includes $5MM buyout of $15MM club option for 2030; Santander has opt-out after 2027 season that Jays can override by increasing salary and exercising 2030 option)
  • Alejandro Kirk, C: $52MM through 2030
  • Kevin Gausman, SP: $23MM through 2026
  • George Springer, OF/DH: $22.5MM through 2026
  • Jeff Hoffman, RP: $22MM through 2027
  • Yariel Rodriguez, RP: $17MM through 2028 (includes $6MM player option for 2028; Blue Jays have $10MM club option if Rodriguez declines)
  • Myles Straw, OF: $8.75MM through 2026 (includes $1.75MM buyout of $8MM club option for 2027; Blue Jays also have $8.5MM club option for 2028 with $500K buyout; Guardians paying $2.75MM to Jays as condition of January 2025 trade)
  • Yimi Garcia, RP: $7.5MM through 2026

Option Decisions

  • Shane Bieber, SP: $16MM player option for 2026 ($4MM buyout)

2026 financial commitments (assuming Bieber declines player option): $164.75MM
Total future commitments (assuming Bieber declines player option): $850.75MM

Arbitration-Eligible Players (service time in parentheses; projections from MLBTR contributor Matt Swartz)

Free Agents

As devastating as Game 7 was for the Blue Jays and their fans, the rest of the 2025 season was an unqualified success.  The club won its first AL East title in 10 years and its first AL pennant since 1993, in a stunning turn-around for a club that finished in last place in the AL East just a season ago (and held a modest 26-28 record through the first two months of 2025).

Just about every single Toronto hitter improved on their 2024 numbers, turning the Jays into a dangerous all-around offense fueled by putting the ball in play, high-volume and quality contact, and timely (if not always consistent) power.  Bichette was a key element of this formula.  After struggling with injuries and inconsistent play since August 2023, he returned to his old self in 2025 by hitting .311/.357/.483 with 18 home runs over 628 plate appearances.  Those numbers likely would've been even stronger if Bichette wasn't sidelined by a left PCL sprain in early September, which kept him out of action until the World Series.  Even while clearly limited in terms of running or normal flexibility, Bichette still hit .348/.444/.478 over 27 PA during the Fall Classic.

Bichette has stated that he won't need a knee surgery this winter, and while we could perhaps wait a few days to make sure Bichette wasn't just trying to tough it out for the postseason, it would seem like his PCL sprain shouldn't leave him any worse for wear for Opening Day 2026.  That means the Blue Jays and other suitors will probably feel comfortable in bidding normally on the All-Star now that he's hitting the open market.

There has been speculation for years about how the Jays would approach the free agencies of Bichette and Vladimir Guerrero Jr. during the 2025-26 offseason, and the Guerrero debate was firmly answered last April when the two sides agreed to a 14-year, $500MM extension.  With such a big commitment made to Guerrero, of course, that only raised fresh questions about Bichette's future.  Especially when coming off a down year in 2024 and with the Jays acquiring Andres Gimenez last winter, it seemed like Toronto was preparing itself to let Bichette walk.

The team's magical run in 2025 may have changed the equation.  Ownership and the front office may have some natural inclination to try and run it back (as much as possible) with a roster that came two outs away from a championship.  The Rogers Communications ownership group is very wealthy and has been comfortable in taking the Blue Jays' payroll into luxury tax territory in both 2023 and 2025, including the team's record high payroll and tax number this season.  (Cot's Baseball Contracts estimates payroll at $254MM and the tax number at roughly $278.8MM, while RosterResource estimates a $257.8MM payroll and a $282.7MM tax number that would put the Jays over the third penalty tier.)

Would the Blue Jays be willing to pay something in the $150MM-$200MM range on Bichette and add yet another long-term deal to a ledger that already has over $850MM in future commitments?  Guerrero alone takes up a big chunk of that $850MM-plus figure, but the Blue Jays also have to factor in other potential expenditures.  As we'll explore later in the outlook, Toronto will again need to make some investments in its rotation, and Kevin Gausman is a free agent next winter.  Extending George Springer didn't seem like a consideration a year ago, but after Springer's big comeback season, the Jays must now at least be thinking about retaining the veteran when his current deal is up next winter.

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Coaching Notes: Mets, Padres, Leiper, Rays

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Many teams are still setting up their coaching staffs for the 2026 season, and some news broke about some departures on the Rangers staff earlier tonight.  Let’s check in with some more coaching-related rumblings from around the league…

  • The Mets have interviewed Padres third base/infield coach Tim Leiper for an unspecified role on New York’s coaching staff, according to The Athletic’s Tim Britton.  SNY’s Andy Martino reported yesterday that the Mets were nearing a hire for their third base coach vacancy, so it would seem logical that Leiper might be the one being tapped as Mike Sarbaugh’s replacement.  Leiper has been San Diego’s third base coach for the last two seasons, and since the Padres are looking for a new manager, it makes sense that Leiper would be exploring other options if the Padres’ staff is about to get shaken up.  Leiper has close to 30 years as a coach and manager in the minors and in international baseball, plus he was also the Blue Jays’ first base coach for five seasons (2014-18).
  • The Rays are looking for a new assistant hitting coach, Marc Topkin of the Tampa Bay Times reports.  Brady North previously filled the role, but the team announced last month that North would be moving on to a possible new role in the organization after four years on the coaching staff.  Topkin notes that Ozzie Timmons is one of the internal candidates for the assistant hitting coach role, which would mark Timmons’ return to Tampa’s staff after a four-year absence.  Timmons was the Rays’ first base coach from 2018-21 before moving onto a three-year stint as a hitting coach with the Brewers.  Tampa Bay brought Timmons back into the fold as a special assistant and roving coach role within the organization prior to the 2025 season.

Gold Glove Winners Announced

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Major League Baseball announced the Gold Glove winners tonight, as selected by managers, coaches, and statistical analysis.  Twenty-five percent of the selection total was determined by SABR’s Defensive Index metrics, while the other 75 percent was determined by votes from all 30 managers and up to six coaches from each team.  The utility Gold Glove was determined in a separate fashion, via a defensive formula calculated by SABR and Rawlings.

National League winners

American League winners

Royals Decline Mutual Option On Michael Lorenzen

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The Royals have declined their end of the $12MM mutual option in Michael Lorenzen’s contract for the 2026 season, MLB.com’s Anne Rogers reports.  Lorenzen will instead receive a $1.5MM buyout and enter free agency.

The veteran right-hander first came to Kansas City in a trade from the Rangers prior to the 2024 deadline, and Lorenzen delivered 28 2/3 innings of 1.57 ball down the stretch for the Royals even though a hamstring strain kept him on the injured list for about a month.  The two sides reunited on a one-year free agent last winter worth $7MM in guaranteed money — a $5.5MM salary for 2025, and then the $1.5MM buyout.

Mutual options are almost never mutually exercised, so both sides surely viewed the contract as just a one-year pact.  Lorenzen’s numbers weren’t as sharp in 2025, as he posted a 4.64 ERA, a subpar 21% strikeout rate, and a host of other uninspiring Statcast metrics over 141 2/3 innings (starting 26 of 27 games).  Lorenzen’s 4.16 SIERA at least outpaced his ERA by almost half a run, perhaps due to a solid 6.4% walk rate that matched the righty’s career best.

Kansas City brought Lorenzen back with the idea that he could eat innings at the back of the rotation, and he ended up being particularly important given how many Royals starters missed time on the IL.  The injury bug bit Lorenzen himself in July when an oblique strain sidelined him for a month, but over the last three years, Lorenzen has quietly averaged 141 2/3 innings per season.

Lorenzen’s lack of velocity and strikeout ability will limit his earning potential, and he’ll probably get just one-year offers since he turns 34 in January.  But plenty of teams are in need of back-end rotation help or starting depth in general, plus Lorenzen’s past history as a relief pitcher makes him a candidate to be converted into a bullpen role on a postseason roster.  Kansas City has enough rotation depth that another deal with Lorenzen is probably unlikely, but the Royals could look to trade a starter and then re-sign Lorenzen to fill that void later in the winter.  This is exactly what the Royals did last offseason, in trading Brady Singer to the Reds and then signing Lorenzen about six weeks later.

The Royals’ other option decisions include a $5MM mutual option with Randal Grichuk’s services for 2026 (with a $3MM buyout), and a $13.5MM club option Salvador Perez.  It is expected that Grichuk’s option will be declined and Perez’s option will be either exercised, or the team will negotiate another multi-year extension with the longtime catcher.

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