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Offseason In Review: San Diego Padres

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The Padres had a fairly quiet offseason coming off a 93-win season. They were working with limited payroll room for the second straight winter, but they decided not to move any key pieces in cost-cutting trades. A few late signings -- including a backloaded four-year deal for a mid-rotation starter -- rounded out the offseason.

Major League Signings

2025 spending: $11MM
Total spending: $62MM

Option Decisions

Trades and Claims

Notable Minor League Seasons

Extensions

  • Signed SS Tyler Wade to one-year, $900K deal with $1MM club option for 2026

Notable Losses

The Padres faced a pair of injuries late last season that had a significant impact on their offseason. In August, Ha-Seong Kim injured his shoulder diving back into first base on a pickoff attempt. He underwent a season-ending labrum repair a few weeks later. Joe Musgrove left a start early in the postseason with elbow tightness. He required Tommy John surgery that'll cost him the entire '25 season.

Kim's injury was "only" expected to carry into the early part of this season, though it came with a nebulous enough timeline that it's possible he'll miss most of the first half. The Padres never seemed likely to meet the asking price to retain free agency's #2 shortstop. However, there's a decent chance they would have issued Kim a qualifying offer if he were fully healthy.

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Offseason In Review: Cincinnati Reds

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The Reds swung a few notable trades to bring some new talent onto the roster, as manager Terry Francona will try to lead the team back into contention.

Major League Signings

2025 spending: $28.55MM
Total spending: $28.55MM

Option Decisions

Trades & Claims

Notable Minor League Signings

Extensions

Notable Losses

Starting with some bigger-picture news from the Reds' winter, the club gained some slight stability on the broadcasting front when it signed a one-year contract with the FanDuel Sports Network, a.k.a. the rebranded Bally Sports Network.  The Reds' broadcasts were previously handed by Bally and parent company Diamond Sports Group, but Cincinnati was one of many teams whose TV future was thrown into question when DSG went into bankruptcy proceedings in March 2023.  DSG and Bally re-emerged under the Main Street Sports and FanDuel Sports Network banners, and several MLB teams chose to re-engage with their old partners under short-term agreements.

The Reds had reached a deal with Major League Baseball itself to handle broadcasts for the 2025 season, but in choosing to re-up with Main Street Sports, the Reds may be giving themselves some flexibility for future deals if all goes well this year.  It is also fair to assume that the Reds are getting at least a bit more money off this new deal than they were getting from MLB, even if terms of the new contract (or the terms of the MLB broadcast deal) weren't made public.

Here's the bottom line as it relates to the club's on-field endeavors --- the Reds had a bit more cash to invest in payroll, as president of baseball operations Nick Krall said in January.  Given the timing, it could be that the Reds might not have been able to trade for Taylor Rogers or sign Austin Hays without those extra funds coming into the team's revenue stream.

Team COO/CFO Doug Healy said in November that the Reds' payroll would either remain stable or go up in the aftermath of the broadcast deal with MLB, and that proved to be the case even with the change in broadcast partners.  The Reds finished last season with an approximate payroll of $100MM (as per RosterResource) and the club now has roughly $115.3MM committed to its 2025 roster as we approach Opening Day.

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Front Office Subscriber Chat Transcript

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MLBTR's Steve Adams hosted a chat today at 3pm CT, exclusively for Trade Rumors Front Office subscribers.

 

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Offseason In Review: Seattle Mariners

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Despite some glaring needs for offense, the Mariners only ended up tinkering a bit with their lineup after a pretty quiet offseason.

Major League Signings

2025 spending: $11.25MM
Total spending: $11.25MM

Option Decisions

Trades & Claims

Notable Minor League Signings

Extensions

  • None

Notable Losses

After a few months of scouring the free agent and trade markets for a replacement for second baseman Jorge Polanco, the Mariners ended up signing....third baseman Jorge Polanco, brought back on a one-year deal worth $7.75MM in guaranteed money, and with a vesting option that could guarantee Polanco at least $6MM in 2026.  Polanco has played the vast majority of his nine MLB seasons as a middle infielder, but he does have 24 games of experience as a third baseman, with 15 of those games coming as recently as the 2023 season when he was still a member of the Twins.

Polanco's defensive metrics as a second baseman were mostly subpar, and his lack of a strong throwing arm raises questions about how well he'll translate to the hot corner.  However, the bigger issue might be whether or not Polanco can rebound from a rough year at the plate.  The infielder hit only .213/.296/.355 over 469 plate appearances with Seattle in 2024, while also missing a month due to a hamstring strain, and undergoing surgery in October to correct a lingering left knee problem.

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Offseason In Review: New York Mets

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The Mets gave out the largest contract in the history of baseball and all professional sports, but they otherwise avoided the top guys and tried to spread their money around to a wide variety of targets.

Major League Signings

2025 spending: $236.475MM (not including split deals or accounting for deferrals)
Total spending: $1.0066 billion

Option Decisions

Trades and Claims

Notable Minor League Signings

Extensions

  • None.

Notable Losses

Going into the winter, it was still hard to get a firm grip on what the Steve Cohen and David Stearns relationship would really look like. Cohen had made the Mets one of the top-spending clubs in baseball. That would have been even more true if the Carlos Correa deal had gone through. But Cohen could easily sign top players on his own and presumably brought in Stearns to make wise decisions about how to allocate resources. Stearns, for his part, had previously been running the small-market Brewers. He had obviously been conservative with that club, only twice giving out a contract larger than $24MM, but how would he act with deeper pockets?

Stearns was hired prior to the 2023-24 offseason but it was hard to draw conclusions from that winter. The club had a disappointing 2023 and ended up having a midseason selloff, sending away Justin Verlander, Max Scherzer, David Robertson and others. They ended up having a fairly modest winter ahead of 2024. They spent a decent amount of money but by signing multiple players to one- or two-year deals.

They went on to engineer a somewhat surprising season in 2024. They snuck into a playoff spot and then got by the Brewers and Phillies in the postseason before getting felled by the Dodgers in the NLCS.

On the heels of a better season and with the club in overall better shape, would Stearns and the Mets behave differently than they did in the previous winter? Many expected the aggression to be ramped up but it wasn't known for sure. It was an important wild card factor in an offseason that was highlighted by Juan Soto, the most sought-after free agent in recent baseball history, perhaps ever. But on top of that, the market also featured guys like Corbin Burnes, Max Fried, Blake Snell, Willy Adames, Alex Bregman and Mets legend Pete Alonso. Would Stearns use Cohen's resources to own the offseason?

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Offseason In Review: Minnesota Twins

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The Twins' front office was constricted by payroll limitations for a second straight offseason -- this time in the wake of announcement that the Pohlad family was looking to sell the team. After a quiet winter, they'll hope for better health and improvement from within.

Major League Signings

2025 spending: $10.25MM
Total spending: $10.25MM

Option Decisions

Trades and Waiver Claims

Extensions

  • None

Minor League Signings

Losses

On Oct. 10, executive chair Joe Pohlad announced that his family would explore a sale of the team after 40 years of ownership. The 42-year-old had been elevated to oversee day-to-day ownership duties for the family just two years prior and quickly signed off on a club-record deal to re-sign Carlos Correa and an extension for Pablo Lopez just weeks after acquiring him via trade. The Twins entered 2023 with a club-record $154MM payroll, but as their television revenues were upended by the bankruptcy proceedings for Diamond Sports Group/Bally Sports, ownership mandated a payroll reduction of some $30MM in 2024 and placed strict financial limitations on the front office again this offseason.

The composition of that front office, it should be noted, changed dramatically this winter.

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Offseason In Review: New York Yankees

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The Yankees found themselves in the rare position of being outbid by the Mets for the top free agent. They responded with multiple lesser but still significant pickups, including an eight-year deal to add a top-of-the-rotation arm.

Major League Signings

2025 spending: $52.35MM
Total spending: $238.35MM

Option Decisions

Trades and Claims

Notable Minor League Signings

Extensions

  • None

Notable Losses

The Yankees' season ended with a blown five-run lead in the World Series Game 5 clincher. The front office didn't have much time to think about that defeat. They faced a number of crucial decisions within the opening days of the offseason.

Some of those were straightforward. They exercised a $2.5MM option on Luke Weaver while moving on from Anthony Rizzo and Lou Trivino. They exercised their option on manager Aaron Boone, a precursor to the two-year extension he would sign early in Spring Training. They made the qualifying offer to Juan Soto. The biggest question of the offseason's first week: would Gerrit Cole test the market?

The ace had to decide whether to opt out of the remaining four years and $144MM on his nine-year free agent deal. If he triggered the opt-out, New York could override it by exercising a $36MM club option covering the 2029 season. Cole took his decision to the wire before deciding to opt out. The Yankees balked at the option. For a day, it looked like Cole would be one of the biggest risk-reward plays on the open market.

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Front Office Subscriber Chat Transcript

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MLBTR’s Anthony Franco held a live chat today, exclusively for Trade Rumors Front Office subscribers!

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Offseason In Review: Atlanta Braves

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The Braves scaled back spending this offseason, but still brought in an All-Star outfielder and a lot of depth options to bolster the roster.

Major League Signings

2025 spending: $13.5MM
Total spending: $43.5MM

Option Decisions

Trades & Claims

Notable Minor League Signings

Extensions

Notable Losses

President of baseball operations Alex Anthopoulos traditionally makes several moves early in the offseason, and he got a particularly quick jump on things this winter by trading Jorge Soler to the Angels less than 24 hours after the World Series ended.  Since exercising Marcell Ozuna's club option was a no-brainer, Soler became redundant in Atlanta's lineup, and an obvious trade candidate.  Because return piece Griffin Canning was eventually non-tendered, the deal became a pure salary dump, as the Halos took the remaining $26MM of Soler's contract off the Braves' hands.

The Braves also moved quickly in signing Reynaldo Lopez and Aaron Bummer to contract extensions, though since the players were already controlled (Lopez via a previous extension and Bummer via club options), the new deals were more about reshuffling some money and creating some space under the luxury tax.  More payroll space was freed up when the Braves declined club options on Travis d'Arnaud and Luke Jackson, and when arbitration-eligibles Ramon Laureano, Cavan Biggio, and Huascar Ynoa were all let go.

All of these moves indicated that Anthopoulos was preparing for another transaction that would cost his team a significant chunk of money.  It took a couple of months for that next step to happen, but Atlanta finally struck in signing Jurickson Profar to a three-year, $42MM deal.  Profar will now line up as the Braves' everyday left fielder, bringing some stability to an outfield that will still be without Ronald Acuna Jr. until likely sometime in May, as Acuna recovers from his torn ACL.

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Offseason In Review: Chicago White Sox

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The White Sox hired a new manager and cashed in Garrett Crochet for prospects, otherwise making affordable, low-ceiling additions.

Major League Signings

2025 spending: $15.2MM
Total spending: $15.2MM

Option Decisions

Trades and Claims

Notable Minor League Signings

Extensions

  • None

Notable Losses

Chris Getz was hired as White Sox executive vice president/GM in August 2023, inheriting manager Pedro Grifol from previous longtime GM Rick Hahn.  After about a year in the GM chair with his team sporting a historically bad 28-89 record on the 2024 season, Getz fired Grifol and installed Grady Sizemore as interim manager for the remainder of the campaign.  Managers can occasionally ride out rebuilding years, proving themselves on soft factors and retaining the job when the team gets good.  The Orioles' Brandon Hyde did this.  Grifol, however, did not warrant that level of faith.

Given a clean offseason slate to choose his own manager, Getz ran an extensive search that included Will Venable, Daniel Descalso, Phil Nevin, George Lombard, A.J. Ellis, Donnie Ecker, Danny Lehmann, Clayton McCullough, Craig Albernaz, and many others whose names did not reach the media.  Getz had competition from the Marlins on several of these candidates.  He ultimately chose Venable on October 29th.  McCullough landed the Marlins gig not long after, while Nevin still landed with Chicago but as a special assistant in their player development department.

The Princeton-educated Venable became the 44th manager in White Sox history, and he takes over a team that has nowhere to go but up.  Getz himself was the beneficiary of Jerry Reinsdorf's "I didn’t have to interview these people, because I knew them all" hiring approach, which also netted Tony La Russa as manager in October 2020.  So it's always a relief to see the White Sox conduct an extensive search as they did with Venable.

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