We’re just over one-third of the way through the 2025 regular season, and it’s been about six weeks since MLBTR’s initial ranking of the upcoming members of the 2025-26 MLB free agent class. It’s a good time for a refresh, although many of the same names will populate the list (albeit in a different order). There are two new entrants, however, and the bottom of the list has shuffled around particularly.

As a reminder, our power rankings at MLB Trade Rumors are not a straight ranking of the best free agents in the upcoming class. There are plenty of older veterans who can make significant impact on short-term deals. However, our rankings are based on total earning power, which means older vets like Paul Goldschmidt are rarely going to crack the top 10, regardless of how strong their performance is. Their age will simply limit them to a shorter-term pact that caps their earning power and leaves them with smaller guarantees than less-productive (but still quality) contributors who can more plausibly push for a long-term deal.

As we’ve seen with recent mega-deals for Juan Soto and Vladimir Guerrero Jr., age is king when it comes to unlocking the richest deals MLB has to offer. The best way a player can position himself for a monster contract is to get to free agency at as young an age as possible — and, of course, do so while turning in excellent results at the plate or on the mound.

One notable and somewhat enigmatic name that’s dropped off our list entirely, for now, is NPB slugger Munetaka Murakami. The 25-year-old corner infielder has played in only one game so far in 2025 due to an oblique strain. Reports dating all the way back to Dec. 2022 indicated that Murakami would be posted following the 2025 season. At the time, he was fresh off a 56-homer MVP campaign, wherein he hit .318/.458/.710 as a 22-year-old. The sky is the limit for that blend of power production and youth. Murakami’s numbers slipped in 2023-24, however. He still popped a combined 64 homers but did so with mounting strikeout rates and increasing struggles against higher-end velocity. Now with an injury that’s sidelined him effectively all season and minimal clarity as to a potential return date — or even whether he still plans to pursue MLB opportunities this winter — he’s been dropped to our honorable mention section. If Murakami returns in June and bashes 20 to 30 homers with strong rate stats over the final few months of the NPB season, he’ll jump right back onto this list — probably onto the top half. For now, he’s something of an unknown, and we’re choosing to focus on more known commodities with a surefire path to the open market.

Onto the updated rankings!

1. Kyle Tucker, OF, Cubs

Stats since last edition: .268/.365/.479, seven home runs, 12 steals, 13.8 BB%, 12 K%

No change here. Tucker fell into a brief slump in mid-May where he tallied just six hits in 11 games, but broke out of that funk with consecutive three-hit games that included a home run. The 28-year-old Tucker is batting .281/.388/.525 with a dozen homers and 15 stolen bases at the one-third mark of the Cubs’ season. He’s on pace for about 35 homers and 45 steals — all while walking more than he’s struck out (15.1% versus 12%) — and is also on pace to top the century mark in both runs and RBIs.

The only possible dings on Tucker’s season so far is that defensive metrics like DRS and OAA both feel he’s been a bit below average. You could point out that he’s not playing at quite as torrid a pace last year in terms of his rate stats, but if we’re resorting to “he’s only 51% better than average rather than 80% better like last year,” that’s officially grasping at straws territory. Tucker is a bona fide superstar who won’t turn 29 until January. He’ll have a qualifying offer hanging over him, but interested parties won’t care about sacrificing a draft pick and international funds if Tucker holds this pace and finishes the season around his current seven- to eight-WAR pace. Nothing Tucker has done this season should dissuade fans from thinking his next contract will at least start with a 4, and it very well could top the half-billion threshold.

2. Dylan Cease, RHP, Padres

Stats since last edition: 44 1/3 innings, 3.45 ERA, 29.8 K%, 7.7 BB%

Cease is still lugging a 4.58 ERA in late May, but that’s due almost entirely to an April 8 bludgeoning at the hands of the A’s. He hasn’t given up more than three runs in any of his other starts, and his production since that regrettable outing is exactly the type you’d expect from a pitcher of this caliber. The 29-year-old righty has done his best work of late, holding opponents to nine runs with a 33-to-5 K/BB ratio over his past four starts (at Yankee Stadium, home versus the Angels, at Toronto’s Rogers Centre, at Atlanta’s Truist Park). He’s pitched into the seventh inning in three of those four starts. Metrics like FIP (3.24) and SIERA (3.20) feel that Cease’s ERA should be at least a full run lower.

He’s had a few shorter outings this season — none more so than that A’s hiccup — but Cease has taken the ball 11 times and continued to pitch like the sport’s most durable starter. He’s never been on the major league injured list and leads MLB in games started dating back to 2020. Assuming he continues to distance himself from that A’s meltdown, this would be Cease’s third sub-4.00 ERA in four seasons, including a Cy Young runner-up effort back in 2022. His 96.8 mph average fastball is as strong as ever. This year’s gaudy 15.7% swinging-strike rate would actually be a career-high, as would his 33.8% opponents’ chase rate. Cease won’t turn 30 until December. He’s a lock to reject a qualifying offer, and he’ll have a real chance at surpassing $200MM in free agency based on his age, power repertoire, swing-and-miss ability and unrivaled durability.

3. Alex Bregman, 3B, Red Sox

Stats since last update: .305/.407/.602, nine homers, 11 doubles, 17.3 K%, 12 BB%

Bregman was on one of the hottest streaks of his career prior to a recent quadriceps strain that will sideline him for more than a month — possibly close to two. It’s awful timing given just how excellent Bregman was prior to the injury, but the strength of that performance still puts a substantial payday on the table in a way it may not have been just this past offseason.

Bregman had to shake off the stink of an early slump last year — one of the worst six-week stretches of his career. When he finally did so, he did it in a way that still raised some red flags. Namely, Bregman’s walk rate even during his good stretch over the final four months of the 2024 campaign was about half what it’d been in prior seasons. There were genuine questions about his approach at the plate, and he carried a career-worst (in a full season) .315 on-base percentage into free agency.

This year’s walk rate is just shy of 10%, and as noted already, it was up to 12% during his recent run of excellence. Bregman has never hit the ball as hard as he has in 2025. He’s averaging 92 mph off the bat — up from his previous career-high of 89.4 mph — and sporting a 48.1% hard-hit rate that’s a career-best by more than eight percentage points.

If Bregman returns from his quad injury and struggles, it will unquestionably impact his earning power. If he returns and looks like the hitter he’s been through his first 226 plate appearances, he might have a case to top the precedent-setting contracts secured by Freddie Freeman (six years, $162MM) and Matt Chapman (six years, $151MM) ahead of their age-32 campaigns (the same age Bregman will be in free agency). He won’t have a qualifying offer this time around, and this type of offensive performance, coupled with Bregman’s glove and the type of clubhouse demeanor and leadership teams covet, could push him past $175MM and might even have $200MM in play.

Injury notwithstanding, there might not be a player in baseball who’s helped his free agent case as much as Bregman with his blistering start.

4. Framber Valdez, LHP, Astros

Stats since last update: 51 innings, 3.71 ERA, 20.8 K%, 7.7 BB%, 57.2 GB%

Valdez’s stats since the publish of our initial rankings are skewed by one awful start the night those rankings were released. He was torched for seven runs in St. Louis but has rebounded tremendously, as one would expect for a top-tier starter. Anyone looks better when you sweep their worst performance under the rug, but Valdez has a 2.68 ERA, 21.7% strikeout rate and 59% ground-ball rate across his past 47 innings.

Valdez might not come to mind right away when MLB fans try to rattle off the league’s best pitchers, but he’s a hard-throwing, durable lefty who misses bats and limits walks at strong rates and is perhaps the sport’s premier ground-ball pitcher (at least in regard to starting pitchers). Virtually no one in MLB can be relied upon for as many innings per start as Valdez, who’s completed six or more frames in eight of his 11 outings. He’s ninth in the majors in innings pitched despite six of the eight names ahead of him having an extra start under their belts. In an era where pitchers increasingly depart the game after five frames, Valdez has averaged 6 1/3 innings per start since 2021 — and done so with a pristine 3.11 ERA, roughly average strikeout and walk rates, and the second-highest ground-ball rate of any starter in baseball (61.9% to Andre Pallante’s 62%).

The only thing holding Valdez back is his age. He’ll turn 32 in November. As shown in MLBTR’s Contract Tracker, there have only been four starting pitchers in the past 15 years to land a free-agent contract of five years or more beginning in their age-32 campaign (or later): Cliff Lee (five years, $125MM in 2010), Zack Greinke (six years, $206.5MM in 2015), Jacob deGrom (five years, $185MM in 2022) and Blake Snell (five years, $182MM just this past offseason).

If Valdez were a year younger, we might realistically be talking about a six-year contract. Most teams will probably be pushing for him on a high-AAV four-year deal instead, but Valdez is (somewhat quietly) so good that he’ll have a real chance to follow Snell as a recent exception to that rule about long-term deals for 32-year-old pitchers.

5. Bo Bichette, SS, Blue Jays

Stats since last update: .261/.310/.427, five homers, four steals, 16.7 K%, 6.5 BB%

On the last set of rankings, we noted that while Bichette’s general batting line was fairly pedestrian, he was back to making loud contact and putting the ball in play with great frequency. All of the ingredients for an uptick in power seemed to be in place, and if Bichette can hit like he did from 2019-23, most will overlook a down year at the plate during a 2024 season in which he was clearly hobbled by injury. Twenty-eight-year-old shortstops with plus hit tools, above-average power and above-average speed don’t come around all that often on the open market.

Since that writing, the power has indeed begun to manifest. Bichette has homered five times in his past 168 plate appearances and cracked another 11 doubles. He’s still not producing at an elite rate, but he’s averaging 91.3 mph off the bat with a 49.7% hard-hit rate. Those are very strong numbers that fall right in line with his 2019-23 batted-ball metrics. Bichette is hitting more line drives, fewer grounders and has popped up at a much lower rate. He’s still “only” about 8% better than average at the plate, but Statcast credits him with an “expected” batting average of .310, nearly 40 points higher than his current mark, and an “expected” slugging percentage of .495 — almost 90 points north of his current level.

In reality, Bichette is probably going to either position himself for a huge contract in free agency or follow the path taken by Cody Bellinger, Matt Chapman and others over the years: sign an opt-out-laden, short-term deal that can get him back to market as soon as possible. At least for the time being, all of the arrows on his batted-ball profile are pointing up. If he can put together a big summer, then as recently laid out by MLBTR’s Darragh McDonald, there’s no reason to think he can’t push for a contract somewhere in the Dansby Swanson ($177MM) to Carlos Correa ($200MM) range.

6. Michael King, RHP, Padres

Stats since last update: 33 1/3 innings, 2.70 ERA, 29.9 K%, 6.7 BB%

King seemingly bolsters his case every time he takes the mound. He’s currently unable to do so, sitting on the 15-day IL due to inflammation in his right shoulder, but there’s no indication it’s a serious injury. The Padres called it a pinched nerve, which has an uncertain timeline, but said there’s nothing wrong structurally (link via AJ Cassavell of MLB.com). If he returns in short order and keeps up his prior pace, he’s going to cash in handsomely.

King is still relatively new to starting. This is only his second full season in a rotation, but he’s been borderline elite ever since moving into the role. He’s averaging 5 2/3 innings per start this season — same as in 2024 — and currently boasts a 2.95 ERA with a 28.4% strikeout rate and 7.6% walk rate. Both are slight improvements over his strikeout and walk rates from 2024, and both (the strikeout rate in particular) are better than the league average.

Since the Yankees put King into the rotation late in 2023, he’s started 49 games with a 2.70 ERA, 28.4% strikeout rate and 7.5% walk rate — a near-mirror image of what he’s done in this season’s 10 starts. It’s not the most conventional path to top-of-the-rotation status, but King increasingly looks the part of a genuine Game 1 or Game 2 playoff starter. He’s not necessarily flashy, averaging 93.7 mph on his heater and sporting good-but-not-elite rate stats. It doesn’t matter, though. The end results are excellent and appear sustainable.

King turned 30 last weekend. That makes the 2026 season technically his age-31 campaign, though the age gap between him and Zac Gallen is only a matter of about three months. It’s a bit misleading to call next season King’s age-31 season and Gallen’s age-30 season; they’re both right on the cusp of the arbitrary July 1 cutoff that’s generally accepted for that designation.

Because King started his big league career in the bullpen, his camp can argue that he has lesser mileage on his arm than most of the other pitchers on this list — while rivaling virtually any of them in quality. If he keeps this pace up, he’s a slam dunk to reject a qualifying offer, and a five-year deal seems like the floor. Six years and an annual value in the $25MM vicinity would very likely be on the table.

7. Cody Bellinger, 1B/OF, Yankees

Stats since last update: .279/.356/.507, seven homers, nine doubles, 14.4 K%, 11.3 BB%

Here we go again. The near perennial conundrum that is Bellinger’s free agent status is again being thrust into the spotlight. Bellinger has shaken off a terrible start to his season and looks well on his way to a better season at the plate than the good-not-great performance he turned in last year in his final season as a Cub.

At present, Bellinger’s .258/.329/.457 slash checks in 20% better than average, according to the wRC+ metric (which weights for a hitter-friendly home setting in the Bronx). The recent hot streak, however, suggests that his season batting line will end up a good bit north of that rate still.

Bellinger will have several things going for him in this bite at the free-agent apple that he didn’t in the past. He was a non-tender coming off two terrible years in the 2022-23 offseason, when he signed a one-year deal with the Cubs. He turned in a brilliant 2023 season, but his market that winter was clouded by skepticism regarding his performance in 2021-22 and a pretty lackluster batted-ball profile that pointed to regression. He also had a qualifying offer with which to contend. After returning to the Cubs on a three-year, $80MM deal with a pair of opt-outs, he had a decent but not great year at the plate in 2024. He chose to forgo an opt-out last winter, recognizing that he could pocket $32.5MM more on his current deal and opt out again if he hit well in 2025.

He’s not just hitting well this year, he’s eliminating the red flags that plagued him previously. The ugly 87.9 mph average exit velocity and 31.4% hard-hit rate he showed in ’23 have been replaced by marks of 90 mph and 40.5%. Below-average walk rates in 2023-24 have been swapped out for a hearty 10.3% mark this year. Is he selling out for power and improved batted-ball contact at the expense of contact? Nope. His 17.8% strikeout rate is up from the 15.6% mark he posted in 2022-23, but his swinging-strike rate is actually down to a career-low 8.8%. As noted already, his strikeout rate since the last MLBTR Power Rankings is just over 14%.

Bellinger won’t have a qualifying offer. It’s crazy to think he’s still only 29, since we’ve been talking about him as a free agent for three years now. His return to free agency will come ahead of his age-30 season, and all the arrows are pointing up. A nine-figure deal will be in play if this keeps up, and it’s easy to imagine Bellinger and Scott Boras taking aim at George Springer’s $150MM guarantee or Brandon Nimmo’s $162MM guarantee.

8. Ranger Suarez, LHP, Phillies

Stats since last update: 30 1/3 innings, 2.97 ERA, 24.6 K%, 7.9 BB%, 47.6 GB%

Suarez missed the first five weeks of the season with a back injury — a concerning start to his platform season even before considering that this is now his second straight year missing a month or more due to back troubles. In 2023, he was limited to just 22 starts by a hamstring strain and an elbow strain.

That’s a whole lot of ominous injury history, but Suarez’s performance when he’s on the mound rarely disappoints. That’s eminently true in 2025, when he’s roared out of the gates with a sub-3.00 ERA and better-than-average strikeout, walk and ground-ball rates. His average fastball, which dipped to a career-low 91.8 mph last year, is back up to 92.3 mph. It’s not quite to the 93.4 mph he averaged in 2023, but it’s still a positive trend.

Whenever Suarez is healthy, he’s a good bet to average about 5 2/3 innings per start while turning in strikeout, walk and ground-ball rates that are comfortably better than average. He’s rarely posted elite marks in any of those categories (save, perhaps, for 2022’s grounder rate of 55.4%), but Suarez consistently performs like a No. 2-3 starter. He’s a legitimate option for a postseason rotation and has been deployed as such by the Phils dating back to 2022. Oh, and his results in those playoff starts? Suarez has 37 2/3 postseason frames in his career, all coming as a starter with the Phillies, and he’s logged an immaculate 1.43 ERA with a 26.1% strikeout rate and 7.8% walk rate.

Suarez might not be the first name that springs to mind when thinking about $100MM starters, but he won’t turn 30 until August and should have a chance to land in the $110-115MM range achieved by Robbie Ray and Kevin Gausman a few years back. If he keeps up his current pace, he could even top the AAV on those five-year deals by a few million.

9. Pete Alonso, 1B, Mets

Stats since last update: .279/.376/.500, seven homers, 11 doubles, 24.3 K%, 11.6 BB%

Alonso opened the 2025 season on one of the most epic slugging binges of any hitter in recent memory. His April stats look like something out of Rookie mode from MLB: The Show. The Polar Bear slashed .343/.474/.657 through the end of April (214 wRC+) — and he did it with a near 17% walk rate and a strikeout rate shy of 15%.

That carried into the first few days of May, but Alonso has cooled considerably over his past 20 games, hitting .192/.244/.321. Worse yet, that incredible K-BB profile has gone up in flames. He’s punched out in 33.7% of his plate appearances during this slump against just a 5.8% walk rate. Alonso has two multi-hit games in this stretch compared to seven hitless performances. His 93.1 mph average exit velocity and 49% hard-hit rate are still great, but they’re nowhere near the 95.3 mph and 59.4% marks he carried through May 5.

Alonso’s early heroics still carry some weight, and if he can break out of these May doldrums and continue onward near his composite .290/.391/.541 batting line, he’s going to be compensated very nicely in free agency. His ultimate payday hinges on whether he’s closer to April’s Dr. Jekyll or May’s Mr. Hyde, but Alonso won’t have a qualifying offer hanging over him in free agency this time around and could top $100MM with another four months of mostly productive slugging.

10. Kyle Schwarber, DH/OF, Phillies

Stats since last update: .250/.390/.549, 13 homers, 17.5% BB%, 23.7% K%

While many of the other hitters in the class have struggled and/or battled injury, Schwarber has remained an impact power presence in the middle of Philadelphia’s lineup. He’s tied for second in the majors with 19 home runs and owns a massive .252/.394/.569 slash line across 249 plate appearances. He’s trending towards a career season, leveling up from an already excellent first three years with the Phils.

Schwarber carries a .224/.349/.496 slash over the course of his four-year, $79MM free agent deal. He’s one of three players (joining Aaron Judge and Shohei Ohtani) with at least 150 homers since the start of the 2022 season. Schwarber may not provide much value outside the batter’s box, but he’s on the shortlist of the sport’s best sluggers right now.

If this list were based solely on the player’s platform year performance, Schwarber would be in the top five. He’s off that pace in a list based on earning power. As MLBTR’s Darragh McDonald covered in much greater detail last week, the market generally doesn’t look kindly on designated hitters or position players approaching their mid-30s. Schwarber will be entering his age-33 season — a time at which hitters almost never get to five years or $25MM annually. He’ll probably buck the latter trend, with a four-year deal around $25MM per season giving him the best chance to reach nine figures. A higher AAV over three years that results in an $80-90MM guarantee isn’t out of the question.

The Phillies will make an effort to keep him around. Ken Rosenthal of The Athletic reported in April that Schwarber had rejected an offseason extension proposal. Talks didn’t progress at the time. President of baseball operations Dave Dombrowski told Jon Heyman and Joel Sherman of The New York Post this week that the Phils “would love to keep him as part of the organization for the long term, no doubt.” At the very least, they’ll make him a qualifying offer to ensure they get draft compensation if he walks.

Honorable Mentions (listed alphabetically): Shane Bieber, Zach Eflin, Jack Flaherty, Zac Gallen, Paul Goldschmidt, Trent Grisham, Ryan Helsley, Rhys Hoskins, Tyler Mahle, Munetaka Murakami, Cedric Mullins, Josh Naylor, Ryan O’Hearn, Robert Suarez, Gleyber Torres, Luke Weaver