Offseason In Review: Milwaukee Brewers
The Brewers followed a heartbreaking postseason exit with an offseason punctuated by the departure of a franchise shortstop, the trade of a star closer, and severe payroll restrictions from ownership.
Major League Signings
- Jose Quintana, LHP: One year, $4.25MM
- Tyler Alexander, LHP: One year, $1MM
- Elvin Rodriguez, RHP: One year, $900K (plus $1.35MM club option for 2026)
- Grant Wolfram, RHP: One year (split major league deal)
2025 spending: $6.15MM
Total spending: $6.15MM
Option Decisions
- RHP Frankie Montas declined $20MM mutual option (Montas received $4MM buyout)
- 1B Rhys Hoskins exercised $18MM player option
- Team declined $12MM mutual option on LHP Wade Miley (Miley received $1.5MM buyout)
- Team declined $11MM mutual option on C Gary Sanchez (Sanchez received $4MM buyout)
- Team exercised $8MM club option on RHP Freddy Peralta
- Team declined $5.5MM club option on RHP Colin Rea (Rea received $1MM buyout)
Trades and Waiver Claims
- Acquired LHP Nestor Cortes and INF Caleb Durbin from Yankees in exchange for RHP Devin Williams
- Acquired RHP Grant Anderson from Rangers in exchange for LHP Mason Molina
- Traded INF Owen Miller to Rockies in exchange for cash
Extensions
- None
Minor League Signings
- Mark Canha, Manuel Margot, Jake Bauers, Jorge Alfaro, Tyler Jay, Bruce Zimmermann, Deivi Garcia, Vinny Nittoli, Jesus Liranzo, Thomas Pannone, Jared Oliva
Notable Losses
The Brewers didn't come right out and say it, but their early offseason activity was a portent for what became a glaring, obvious lack of financial resources for the baseball operations department. The decisions to decline pricey options on injured lefty Wade Miley (who had Tommy John surgery in late April) and backup catcher Gary Sanchez didn't come as a surprise.
However, many Milwaukee fans were surprised to see the team place righty Colin Rea on outright waivers when he was a net $4.5MM call for them. The decision was perhaps justified originally when Rea cleared waivers and had his option declined, but the $5MM deal he eventually signed with the Cubs was larger than the net amount he'd have cost the Brewers to retain. The Brewers followed that with another somewhat surprising move to non-tender southpaw reliever Hoby Milner, who was projected for a $2.7MM salary. The 34-year-old's 4.73 ERA was rocky, of course, but he posted terrific K-BB% numbers and had given the Brew Crew 129 innings of 2.79 ERA ball across the 2022-23 seasons.
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Trade Rumors Chat Transcript
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Offseason In Review: Toronto Blue Jays
The Blue Jays came up short on most (but not all) of their many pursuits of star free agents this winter, and the ship may have already sailed on the team's efforts to sign Vladimir Guerrero Jr. to a contract extension. Amidst all the pessimism surrounding the Jays' future, the team did make some notable moves to try and reload the roster after a disappointing 2024 campaign.
Major League Signings
- Anthony Santander, OF: Five years, $92.5MM (includes buyout of $15MM club option for 2030; opt-out after 2027 season, but Blue Jays can void opt-out by guaranteeing 2030 option for $17.5MM salary, and adding $2.5MM to 2028 and 2029 salaries; $61.75MM of Santander's deal is deferred)
- Jeff Hoffman, RP: Three years, $33MM
- Max Scherzer, SP: One year, $15.5MM
- Yimi Garcia, RP: Two years, $15MM
- Dillon Tate, RP: One-year split contract, $1.4MM (prorated over Tate's time on the active roster)
- Josh Walker, RP: One year split contract, $760K (prorated over Walker's time on active roster)
2025 spending: $59MM (not counting Tate/Walker)
Total spending: $156MM
Option Decisions
- None
Trades & Claims
- Acquired 2B Andres Gimenez and RP Nick Sandlin from Guardians for 1B Spencer Horwitz and minor league OF Nick Mitchell
- Acquired OF Myles Straw, $3.75MM in cash considerations, and $2MM of international bonus pool money from Guardians for cash considerations or a player to be named later
- Claimed RHP Angel Bastardo from Red Sox in Rule 5 Draft
Notable Minor League Signings
- Ryan Yarbrough, Jacob Barnes, Christian Bethancourt, Richard Lovelady, Eric Lauer, Amir Garrett, Ali Sanchez, Michael Stefanic, Adam Kloffenstein
Extensions
- None
Notable Losses
- Horwitz, Jordan Romano, Genesis Cabrera, Brett de Geus, Luis De Los Santos, Paolo Espino, Brandon Eisert
Toronto hitters combined for only 156 home runs and a .389 slugging percentage in 2024, so a 44-homer bat like Anthony Santander should bring some much-needed thunder to the lineup. The Blue Jays made a hefty $92.5MM investment that Santander can build on the career year that saw him hit .235/.308/.506 over 665 plate appearances for the Orioles, while handily topping his previous high of 33 homers (in 2022).
Santander's overall hitting profile is a concern, as evidenced by the low batting average and OBP. However, Santander still posted an above-average walk rate despite the low on-base number, and his strikeout rate remained above average in 2024 even though chasing pitches has been an issue for his entire career. The switch-hitter is certainly a power-first (if not quite a power-only) type of batter, yet the profile fits for a Jays team lacking in pop and in left-handed hitting balance.
Santander will step right into the lineup as the everyday left fielder, and he'll probably get a decent share of DH time given that his glovework is considered only passable. As defense-focused as the Blue Jays have been over the last couple of years, they continued to move in that direction with a surprising trade for arguably the sport's best defensive second baseman.
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Offseason In Review: Kansas City Royals
The Royals began the offseason with a three-year signing to keep their excellent rotation intact. They traded from that starting staff a month later to acquire a new leadoff hitter. Kansas City hoped to follow up with an impact offensive acquisition that never materialized. They instead turned to the relief market late in the winter to add a veteran closer.
Major League Signings
- RHP Michael Wacha: Three years, $51MM (including buyout of 2028 club option)
- RHP Carlos Estévez: Two years, $22MM (including buyout of 2027 club option)
- RHP Michael Lorenzen: One year, $7MM (including buyout of 2026 mutual option)
2025 spending: $35MM
Total spending: $80MM
Option Decisions
- RF Hunter Renfroe exercised $7.5MM player option
- RHP Chris Stratton exercised $4.5MM player option
- Team declined $8.5MM mutual option on 2B Adam Frazier in favor of $2.5MM buyout
Trades and Claims
- Acquired 2B Jonathan India and RF Joey Wiemer from Reds for RHP Brady Singer
- Claimed SS Braden Shewmake from White Sox (later lost on waivers to Yankees)
Extensions
- Signed LHP Cole Ragans to three-year, $13.25MM deal to cover final pre-arb year and first two arbitration seasons
Notable Minor League Signings
- Cavan Biggio, Harold Castro, Taylor Clarke, Austin Cox, Junior Fernández, Jordan Groshans, Thomas Hatch, Luke Maile, Ross Stripling
Notable Losses
- Brady Singer, Will Smith, Adam Frazier, Garrett Hampson, Tommy Pham, Paul DeJong, Robbie Grossman, Yuli Gurriel
The Royals were perhaps the most surprising playoff team of 2024. Kansas City had a 30-win improvement relative to the preceding season. They held the Orioles to one run in two games to sweep their Wild Card series. The Yankees knocked K.C. off in the Division Series, but the Royals' window has reopened after a nine-year postseason drought.
They remain one of the more top-heavy contenders. Kansas City's success was built around an elite rotation and an MVP-caliber season from Bobby Witt Jr. They preserved a crucial piece of that rotation just before free agency opened. Kansas City signed Michael Wacha to a three-year, $51MM extension to keep him from opting out and testing free agency. The veteran righty rejoins Seth Lugo as the 2-3 arms behind breakout left-hander Cole Ragans.
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Offseason In Review: Arizona Diamondbacks
The D-backs followed up their 2023 World Series appearance with a narrow playoff miss and responded by making the biggest free agent signing in franchise history. Now brandishing one of the best one-two starting pitching punches in the sport, they'll look to ride a powerhouse rotation back into October baseball.
Major League Signings
- Corbin Burnes, RHP: Six years, $210MM (opt-out after 2026 season)
- Randal Grichuk, OF: One year, $5MM (includes buyout of 2026 mutual option)
- Kendall Graveman, RHP: One year, $1.35MM (includes buyout of 2026 mutual option)
2025 spending: $46.35MM
Total spending: $216.35MM
Option Decisions
- LHP Jordan Montgomery exercised $22.5MM player option
- Team exercised $15MM option on 3B Eugenio Suarez
- DH Joc Pederson declined $14MM mutual option (received $3MM buyout)
- Team exercised $7MM option on RHP Merrill Kelly
- OF Randal Grichuk declined $6MM mutual option (received $1.75MM buyout)
- Team declined $4MM mutual option on RHP Scott McGough (received $750K buyout)
Trades and Waiver Claims
- Acquired 1B Josh Naylor from Guardians in exchange for RHP Slade Cecconi and Competitive Balance (Round B) draft pick
- Acquired INF Grae Kessinger from Astros in exchange for minor league RHP Matthew Linskey
- Claimed C Rene Pinto off waivers from the Orioles
- Claimed RHP Seth Martinez off waivers from Astros (later lost to Marlins via waivers)
Notable Minor League Signings
- Trey Mancini, Shelby Miller, Scott McGough, Brandon Bielak, Casey Kelly, Cristian Pache, Ildemaro Vargas, Aramis Garcia, Jeff Brigham, Garrett Hampson, Jose Castillo, Josh Winder, John Curtiss
Extensions
- Geraldo Perdomo, SS: Four years, $45MM (plus 2030 club option)
Notable Losses
Arizona's playoff hopes in the 2024 season stayed alive until the very end, but they ultimately watched from home after missing the postseason by the literal narrowest margin possible. It was a bitter pill for the club and its fans to swallow -- particularly since the offseason promised considerable turnover. Star first baseman Christian Walker hit free agency, as did slugger Joc Pederson on the heels of what was arguably a career-best season. Closer Paul Sewald and key role players like Randal Grichuk and Kevin Newman also returned to the open market.
That all left plenty of work to be done, and not a ton of payroll space to make it happen -- or so it seemed initially, anyhow. General manager Mike Hazen publicly stated in November that he anticipated a payroll in the same range as 2024's $173MM figure. With Jordan Montgomery exercising a $22.5MM player option on the heels of a down year, the D-backs lost plenty of flexibility. There was still a decent amount of room, but they ostensibly needed to replace their first baseman, designated hitter, closer and multiple bench pieces.
As he set those payroll expectations, Hazen also made clear that bolstering the back end of his bullpen was a key priority. For the first third or even half of the offseason, the general expectation was that Arizona would seek high-end bullpen help and perhaps a more affordable replacement for Walker, who seemed destined for multiple years with an average annual value in the $20MM range.
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Offseason In Review: Chicago Cubs
The Cubs added star power in the Kyle Tucker trade, but otherwise made modest additions despite several other big swings.
Major League Signings
- Matthew Boyd, SP: two years, $29MM. Includes $15MM mutual option for 2027 with a $2MM buyout
- Carson Kelly, C: two years, $11.5MM. Includes $7.5MM mutual option for 2027 with a $1.5MM buyout
- Justin Turner, 1B/DH: one year, $6MM. Includes a $10MM mutual option with a $2MM buyout
- Colin Rea, SP/RP: one year, $5MM. Includes $6MM club option with a $750K buyout
- Caleb Thielbar, RP: one year, $2.75MM
- Jon Berti, 3B/2B: one year, $2MM
2025 spending: $33.25MM
Total spending: $56.25MM
Option Decisions
- Cody Bellinger, RF/CF/1B: exercised $27.5MM player option for 2025
- Club declined $10MM mutual option with LHP Drew Smyly
Trades and Claims
- Claimed RP Rob Zastryzny off waivers from Brewers. Zastryzny was later outrighted, elected free agency, and signed with the Yankees.
- Acquired RP Eli Morgan from Guardians for OF Alfonsin Rosario
- Acquired C Matt Thaiss from Angels for cash considerations
- Selected 3B/SS Gage Workman from Tigers in Rule 5 draft
- Acquired RF Kyle Tucker from Astros for IF Isaac Paredes, P Hayden Wesneski, and 3B Cam Smith
- Acquired cash from White Sox for C Matt Thaiss
- Acquired P Cody Poteet from Yankees for OF/1B Cody Bellinger and $5MM
- Acquired IF Vidal Brujan from Marlins for 1B Matt Mervis
- Acquired RP Matt Festa from Rangers for cash considerations. Festa was later outrighted, elected free agency, and signed with the Rangers.
- Acquired cash considerations from Mariners for IF Miles Mastrobuoni
- Acquired cash considerations from Yankees for P Michael Arias
- Acquired RP Ryan Pressly and $5.5MM from Astros for SP Juan Bello
- Acquired cash from Orioles for IF Luis Vazquez
- Acquired RP Ryan Brasier and cash considerations from Dodgers for a player to be named later or cash
- Acquired cash considerations from Mets for OF Alexander Canario
Notable Minor League Signings
- Trevor Richards, Reese McGuire, Brad Keller, Nicky Lopez, Chris Flexen, Travis Jankowski, Phil Bickford, Ben Heller, Yency Almonte
Extensions
- None
Notable Losses
- Paredes, Wesneski, Smith, Adbert Alzolay, Patrick Wisdom, Drew Smyly, Nick Madrigal, Mike Tauchman
Much like the previous winter with Marcus Stroman, this Cubs offseason kicked off with a pivotal player option decision that would affect their financial flexibility. This time, Cody Bellinger elected to take the $27.5MM owed to him in 2025 in lieu of a $2.5MM buyout, which also preserves a $25MM option on 2026 with a $5MM buyout. Bellinger's decision was not surprising, as he's now positioned himself to decline the '26 option having collected a total of $32.5MM for '25.
The Athletic's Patrick Mooney suggested a couple of times early in the offseason that the Cubs were seeking a starting pitcher who "could be trusted in a playoff game." Nonetheless, it wasn't long before Mooney's colleague Sahadev Sharma wrote that "the top tier of the starting pitching market has been ruled out" for the club. Blake Snell, Max Fried, and Corbin Burnes would go on to sign contracts ranging from $182-218MM (though some included deferred money), and the Cubs were seemingly never a factor on them due to what I assume are philosophical objections to five-plus year commitments to thirty-something-aged free agent starters.
Instead, Cubs president of baseball operations Jed Hoyer made a pre-Winter Meetings strike for 34-year-old southpaw Matthew Boyd. Boyd was available on a two-year contract because of his age and injury history. After totaling 355 2/3 innings for the 2018-19 Tigers, Boyd has not reached 80 innings in a season since.
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Offseason In Review: Miami Marlins
The rebuild continued in South Beach, as the Marlins continued to move experienced talent for prospects.
Major League Signings
- Cal Quantrill, SP: One year, $3.5MM
- Eric Wagaman, IF/OF: One year split deal ($770K in majors, $200K in minors)
2025 spending: $3.5MM
Total spending: $3.5MM
Option Decisions
- None
Trades & Claims
- Acquired minor leaguers SS Starlyn Caba and OF Emaarion Boyd from Phillies for SP Jesus Luzardo and minor league C Paul McIntosh
- Acquired minor leaguers 2B/SS Max Acosta, 2B/SS Echedry Vargas, and LHP Brayan Mendoza from Rangers for 1B/3B Jake Burger
- Acquired 1B Matt Mervis and cash considerations from Cubs for IF Vidal Brujan
- Acquired cash considerations from Athletics for C Jhonny Pereda
- Acquired minor league RP Will Kempner from Giants for international bonus pool money
- Claimed RP Brett de Geus off waivers from Pirates
- Claimed RP Ronny Henriquez off waivers from Twins
- Claimed RHP Connor Gillispie off waivers from Braves
- Claimed RHP Christian Roa off waivers from Reds
- Selected C/1B Liam Hicks from Tigers in the Rule 5 Draft
Notable Minor League Signings
Notable Losses
- Luzardo, Burger, Brujan, Sixto Sanchez, Roddery Munoz, Adam Oller, Mike Baumann, John McMillon, Anthony Maldonado, Michael Petersen
Miami's offseason began with a big internal housecleaning, as the Marlins parted ways with their entire coaching staff, and several behind-the-scenes employees ranging from the team's dietician to the traveling secretary. The headline name among all the Marlins' new hires was Clayton McCullough, chosen for his first big league managerial position after a long career as a coach and coordinator in the Dodgers' organization, and as a manager at multiple levels of the Blue Jays' farm system.
McCullough's history of working in player development and with players at both the Major and minor league levels bodes well for his stewardship of a Marlins team that continues to look towards the future. Of all the players on the Marlins' 40-man roster, only Sandy Alcantara and new signing Cal Quantrill have more than four years of MLB service time, as president of baseball operations Peter Bendix has already significantly overhauled the roster after a little over 16 months on the job.
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Front Office Subscriber Chat Transcript
MLBTR’s Anthony Franco held a live chat today, exclusively for Front Office subscribers!
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Offseason In Review: San Francisco Giants
While not the blockbuster offseason some fans expected from the Giants' new front office, a couple of big names landed in San Francisco.
Major League Signings
2025 spending: $36MM
Total spending: $197MM
Option Decisions
- Blake Snell, SP: Opted out of final year of contract ($30MM in 2025)
- Robbie Ray, SP: Declined to opt out of final two years of contract ($50MM over 2025-26 seasons)
- Wilmer Flores, IF: Exercises $3.5MM player option for the 2025 season
Trades & Claims
- Acquired minor league RP Braxton Roxby from Reds for RP Taylor Rogers and $6MM
- Acquired IF/OF Osleivis Basabe from Rays for cash considerations
- Acquired international bonus pool space from Red Sox for C/OF Blake Sabol
- Acquired international bonus pool space from Marlins for minor league RHP William Kempner
- Claimed C Sam Huff off waivers from Rangers
Notable Minor League Signings
- Max Stassi, Joey Lucchesi, Jake Lamb, Raymond Burgos, Kai-Wei Teng, Ethan Small, Justin Garza, Miguel Diaz, Lou Trivino, Sergio Alcantara, Enny Romero, Logan Porter
Extensions
- None
Notable Losses
- Blake Snell, Rogers, Sabol, Michael Conforto, Mark Canha, Thairo Estrada, Curt Casali, Austin Warren
Willy Adames' $182MM contract represents the largest deal in Giants history, and perhaps marks an end to the narrative that the franchise is unable to attract top-tier talent to the Bay Area. Bryce Harper, Aaron Judge, Carlos Correa (though that situation was rather unique), and Shohei Ohtani are a few of the major free agents who the Giants pursued but were unable to sign when Farhan Zaidi was the club's president of baseball operations, leaving fans perpetually frustrated at Zaidi's roster-building endeavors.
Things changed even before Zaidi was officially replaced by Buster Posey last September, as Posey (then acting in his capacity as a member of the Giants board of directors) took a very direct role in negotiating Matt Chapman's six-year, $151MM contract extension. It is rare to see such extensions signed when a player is as close to Chapman was to the open market, and finalizing that deal indicated that Posey might be moving with more aggressiveness once he took the reins as the new PBO.
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Offseason In Review: Los Angeles Dodgers
The Dodgers followed up their World Series win with another aggressive offseason, making many headline-grabbing additions as well as some less splashy moves. Despite years of playoff disappointments, they now go into 2025 viewed as a juggernaut that is despised by all other fan bases around the league.
Major League Signings
- LHP Blake Snell: Five years, $182MM (includes conditional club option, $52MM signing bonus and $65MM in deferrals)
- LHP Tanner Scott: Four years, $72MM (includes conditional 2029 club option, $20MM signing bonus and $21MM in deferrals)
- OF Teoscar Hernandez: Three years, $66MM (includes 2028 club option, $23MM signing bonus and $23.5MM in deferrals)
- RHP Blake Treinen: Two years, $22MM (includes $5MM signing bonus)
- OF Michael Conforto: One year, $17MM (includes $8.5MM signing bonus)
- RHP Kirby Yates: One year, $13MM
- IF Hyeseong Kim: Three years, $12.5MM (includes 2028-29 club option)
- LHP Clayton Kershaw: One year, $7.5MM
- IF/OF Enrique Hernández: One year, $6.5MM
2025 spending: $185.5MM
Total spending: $398.5MM
Option Decisions
- LHP Clayton Kershaw declined $10MM player option (though re-signed on aforementioned $7.5MM deal with incentives)
- Team exercised $5MM club option on IF Miguel Rojas
- Team exercised $3.5MM club option on C Austin Barnes
Trades and Claims
- Traded IF Gavin Lux to Reds for OF Mike Sirota and Competitive Balance Round A draft pick
- Traded C Diego Cartaya to Twins for RHP Jose Vasquez
- Traded OF Dylan Campbell to Phillies for international bonus pool space
- Traded OF Arnaldo Lantigua to Reds for international bonus pool space
- Traded RHP Ryan Brasier and cash to Cubs for PTBNL or cash
Notable Minor League Signings
- Roki Sasaki, Eddie Rosario, David Bote, Michael Chavis, Luis García, Giovanny Gallegos, Chris Okey, Joe Jacques
Extensions
- IF/OF Tommy Edman: Four years, $64.5MM (includes 2030 club option, $17MM signing bonus and $25MM of deferrals)
Notable Losses
- Jack Flaherty, Walker Buehler, Joe Kelly (still unsigned), Kevin Kiermaier (retired), Daniel Hudson (retired), Ryan Brasier, Gavin Lux, Diego Cartaya, Connor Brogdon (outrighted), Brent Honeywell Jr. (non-tendered), Zach Logue (non-tendered)
Things change fast in baseball. The Dodgers finished 2023 on a down note, having been swept out of the NLDS by the Diamondbacks. Though that was their 11th consecutive postseason appearance, many of them had ended in heartbreaking fashion. Fans of the club were in MLBTR's mentions, calling for manager Dave Roberts and president of baseball operations Andrew Friedman to be fired. Fans of other clubs were taunting them for their failed attempts to "buy" a World Series. But they then signed Shohei Ohtani to a heavily-deferred deal, as well as grabbing Yoshinobu Yamamoto and many others, eventually winning it all in 2024.
The club therefore went into the 2024-25 offseason with the wind in their sails and they didn't slow down. Within a few months of their parade, they had signed one of the top free agent starters, a few of the top relievers, some solid outfielders and the most notable international amateur since Ohtani.
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