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
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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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Front Office Subscriber Chat Transcript
MLBTR’s Anthony Franco held a live chat today for Front Office subscribers.
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Offseason In Review: Washington Nationals
The Nationals made a few acquisitions, most notably with a trade for their new first baseman. They eschewed any investments longer than two years. They're probably still a season away from pulling out of the rebuild. If they take a step forward from last season's 71 wins, they should be positioned for a much more aggressive winter going into 2026.
Major League Signings
- RHP Trevor Williams: Two years, $14MM
- RHP Michael Soroka: One year, $9MM
- DH Josh Bell: One year, $6MM
- RHP Kyle Finnegan: One year, $6MM ($4MM deferred)
- LHP Shinnosuke Ogasawara: Two years, $3.5MM (plus $700K posting fee)
- RHP Jorge López: One year, $3MM
- RHP Lucas Sims: One year, $3MM
- 3B Amed Rosario: One year, $2MM
- 3B Paul DeJong: One year, $1MM
2025 spending: $38.5MM ($4MM deferred)
Total spending: $47.5MM
Option Decisions
- Declined $8MM mutual option on 1B Joey Gallo in favor of $2.5MM buyout
Trades and Claims
- Selected RHP Evan Reifert from Rays in Rule 5 draft
- Acquired 1B Nathaniel Lowe from Rangers for LHP Robert Garcia
Notable Minor League Signings
Extensions
- None
Notable Losses
- Patrick Corbin, Robert Garcia, Joey Gallo, Tanner Rainey (non-tendered), Joey Meneses (outrighted), Ildemaro Vargas (outrighted), Amos Willingham (via waivers), Michael Rucker (outrighted), Thaddeus Ward (via waivers), Joe La Sorsa (released)
The Nationals finished 71-91 last season, their second straight year landing 20 games under .500. Still, they feel closer to contention than they did 12 months ago. Top outfield prospects James Wood and Dylan Crews made it to the big leagues. The middle infield tandem of CJ Abrams and Luis García Jr. each took steps forward, even if Abrams' season ended with an unceremonious disciplinary demotion. Center fielder Jacob Young had a nice season headlined by Gold Glove-caliber defense. A controllable rotation group of MacKenzie Gore, Jake Irvin, Mitchell Parker and DJ Herz pitched reasonably well.
One can start to see the light at the end of the five-year rebuild. Yet the Nationals entered the offseason with a handful of huge holes. GM Mike Rizzo said in September that the front office was looking to add one or two middle-of-the-order bats. The Nats got very little from their corner infield or designated hitter positions, making those obvious target areas. They're still lacking a true top-of-the-rotation starter, nor did they have much in the way of middle relief depth.
They didn't fix all of it. There was never much hope of ownership allowing the front office to jump back in on Juan Soto. They seemingly didn't look at the top of the rotation market, uninterested in making a $200MM+ investment for Corbin Burnes or Max Fried. While they technically did add two middle-of-the-order hitters, they weren't on significant free agent splashes. The Nationals showed some interest in Christian Walker and made sense as an on-paper fit for Pete Alonso, but they ended up taking a volume approach to free agency.
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Offseason In Review: Cleveland Guardians
The Guardians kept their longtime ace but traded their everyday first baseman ahead of his final season of club control. Their offseason featured a blend of creative trades to trim payroll and acquire controllable talent, plus some short-term spending on veterans to replace some of the big leaguers they traded away. It was a vintage Cleveland offseason that should keep them in the mix in what'll be a tightly contested AL Central.
Major League Signings
- Shane Bieber, RHP: Two years, $26MM (opt-out after 2025 season)
- Carlos Santana, 1B: One year, $12MM
- Paul Sewald, RHP: One year, $7MM (includes buyout on 2026 mutual option)
- Jakob Junis, RHP: One year, $4.5MM
- Austin Hedges, C: One year, $4MM
- John Means, LHP: One year, $1MM (club has $6MM option for 2026, no buyout)
2025 spending: $37.5MM
Total spending: $54.5MM
Option Decisions
- None
Trades and Waiver Claims
- Acquired RHP Slade Cecconi and Competitive Balance Draft Pick (Round B) from D-backs in exchange for 1B Josh Naylor
- Acquired 1B Spencer Horwitz and OF Nick Mitchell from Blue Jays in exchange for 2B Andres Gimenez and RHP Nick Sandlin
- Acquired RHP Luis Ortiz, LHP Josh Hartle and LHP Michael Kennedy from Pirates in exchange for 1B Spencer Horwitz
- Traded RHP Eli Morgan to Cubs in exchange for OF Alfonsin Rosario
- Traded RHP Peter Strzelecki to Pirates in exchange for cash
- Traded OF Myles Straw to Blue Jays in exchange for PTBNL
Notable Minor League Signings
- Vince Velasquez, Kolby Allard, Parker Mushinski, George Valera (re-signed), Luis Frias, Riley Pint, Dom Nunez
Extensions
- None
Notable Losses
- Josh Naylor, Andres Gimenez, Matthew Boyd, Alex Cobb, Nick Sandlin, Eli Morgan, Myles Straw, Peter Strzelecki, James Karinchak (non-tendered), Pedro Avila (outrighted, elected free agency)
The Guardians entered the 2024-25 offseason looking to bolster a roster that made an unexpected run to the American League Championship Series. Cleveland faced decisions on some players with dwindling club control and, as is always the case, some notable payroll limitations. In a departure from most offseasons, however, the Guards found themselves in an unfamiliar position: needing to acquire starting pitching.
Cleveland has emerged as one of the industry leaders in maximizing its rotation output. At times, it feels as though they have an almost magical ability to produce quality starting pitchers out of thin air. In fact, when the Guardians signed righty Ben Lively to a one-year, $800K deal in the 2023-24 offseason, it was the first time they'd signed any free agent starter to a major league contract since inking Gavin Floyd back in 2014. Midway through the 2024 season, they did so again, signing Matthew Boyd to a major league contract.
Both moves worked out splendidly. Boyd started eight games down the stretch and produced a sub-3.00 ERA. Lively finished second on the club with 151 innings and notched a 3.81 ERA and stuck with the club as an arbitration-eligible player. He'll be back in the 2025 rotation. Boyd, however, hit free agency and did so alongside former Cy Young winner Shane Bieber and trade deadline acquisition Alex Cobb.
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Offseason In Review: Houston Astros
The Astros lost one star in free agency while trading away another. They're moving their longtime second baseman to left field. It'll be a different team, one they hope will remain a top AL contender in the short term while avoiding a true rebuild in the second half of this decade.
Major League Signings
- 1B Christian Walker: Three years, $60MM
- LF Ben Gamel: One year, $1.2MM (only $200K guaranteed)
2025 spending: $21.2MM
Total spending: $62.2MM
Option Decisions
- None
Trades and Claims
- Acquired LF Taylor Trammell from Yankees for cash
- Traded RF Kyle Tucker to Cubs for 3B Isaac Paredes, RHP Hayden Wesneski and minor league 3B Cam Smith
- Traded SS Grae Kessinger to Diamondbacks for minor league RHP Matthew Linskey
- Traded RHP Ryan Pressly and cash ($5.5MM) to Cubs for minor league RHP Juan Bello
Notable Minor League Signings
Extensions
- None
Notable Losses
- Kyle Tucker, Alex Bregman, Justin Verlander, Yusei Kikuchi, Ryan Pressly, José Urquidy (non-tendered), Caleb Ferguson, Héctor Neris, Jason Heyward, Kendall Graveman, Seth Martinez (via waivers), Penn Murfee (via waivers), Grae Kessinger, Trey Cabbage (via waivers)
The Astros are seeking their ninth consecutive playoff berth. Houston's incredible run of seven straight trips to the ALCS came to an end, but they still cruised to an AL West title after a ghastly start to the '24 campaign. The contention window certainly hasn't closed, but the front office had its work cut out for them this winter.
Alex Bregman's free agency was the most immediate challenge. Houston has spent up to and occasionally beyond the luxury tax line under owner Jim Crane. They're willing to spend, but that has come with the general caveat that they're not keen on offering long-term contracts. Houston had already allowed George Springer and Carlos Correa to walk in free agency. How much urgency would they show with Bregman?
The Astros made some effort to retain their longtime third baseman. They reportedly offered a six-year, $156MM proposal early in the winter. Bregman remained in pursuit of a contract closer to $200MM. While Houston left the offer on the table, the front office began turning its attention elsewhere when there was no progress towards a deal within the offseason's first six weeks.
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