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How The Dodgers Built Their World Series Roster

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As the World Series gets underway, we’ll take a look at how both teams’ rosters were constructed. In a battle of big-market behemoths, much of the heavy lifting was accomplished via free agency. The Yankees and Dodgers have each done a lot in trade and graduated some key homegrown contributors to complement their splashes on the open market.

A player drafted or acquired in trade who subsequently hit free agency and re-signed will be classified as a free agent acquisition. The player’s history with the organization is a key part of why they returned, of course, but the most recent transaction was nevertheless to sign them to a free agent deal.

After looking at the Yankees earlier this evening, we turn to the Dodgers in their quest for a second title in five years.

Trade (9)

The Yankees had massive trades for Juan Soto and Giancarlo Stanton. The Betts blockbuster may have been even more impactful. Los Angeles also landed Graterol from the Twins in that three-team deal. They dealt Kenta Maeda to Minnesota while sending Alex Verdugo, Connor Wong and Jeter Downs to Boston and taking on a chunk of the underwater David Price contract. L.A. immediately signed Betts to a $365MM extension. He has a trio of top five MVP finishes since donning Dodger blue. It’s one of the most impactful trades in MLB history.

Nothing quite matches up to the Betts deal, but L.A.’s World Series team is benefitting from a couple more big deadline trades. Game 1 starter Flaherty came over from the Tigers in a trade sending rookie infielder Trey Sweeney and catching prospect Thayron Liranzo to Detroit. That transaction, which dropped just minutes before the deadline, reportedly came within hours of the Yankees pulling out of a potential Flaherty trade because of concerns about his back.

For as well as Flaherty pitched down the stretch, the Dodgers’ bigger July move was another three-team trade. Los Angeles landed eventual NLCS MVP Edman from the Cardinals and future closer Kopech from the White Sox in a deal that cost them young infielder Miguel Vargas and prospects Alexander Albertus and Jeral Perez. Edman was recovering from wrist surgery and had yet to make his season debut at the time, while Kopech was sitting on a 4.74 ERA despite huge swing-and-miss numbers.

The oldest trade on this list happened a decade ago. The Dodgers and Marlins lined up on a seven-player deal that continues to have ripple effects. Los Angeles sent Dee Strange-Gordon, Miguel Rojas and Dan Haren to Miami for four players: Enrique Hernández, Andrew Heaney (immediately flipped to the Angels for Howie Kendrick), Chris Hatcher and Barnes. They’ve kept Barnes as a backup catcher ever since. Los Angeles would bring Rojas back nine years after moving him. The Dodgers acquired the veteran infielder in a one-for-one swap that sent infield prospect Jacob Amaya to the Fish. Amaya played four games for Miami before they waived him.

Los Angeles continues to benefit from another minor trade with the Marlins. In 2021, the Dodgers sent middle reliever Dylan Floro to Miami for Vesia and Kyle Hurt. Vesia has a 2.57 ERA over four seasons in Los Angeles. He is Dave Roberts’ top lefty bullpen arm. Vesia is backed up by Banda, a well-regarded prospect turned journeyman. The Dodgers acquired him in a cash trade with the Guardians in May.

MLB Free Agency (8)

Most of L.A.’s biggest free agent pickups came last winter. The Ohtani signing will go down as one of the biggest transactions in MLB history. The deferral-laden structure made it one of the most controversial sports contracts ever. After accounting for the deferred money, MLB values the $700MM as an approximate $461MM deal for luxury tax purposes. By any measure, it’s still the largest deal of all time — a record it’ll hold until Juan Soto signs this offseason. Ohtani became the first player in league history to go 50-50 and is going to win the NL MVP in year one.

Within weeks of landing Ohtani, the Dodgers signed Yamamoto to the biggest pitching contract ever. The 25-year-old righty signed for 12 years and $325MM before throwing his first pitch in MLB. A rotator cuff injury cost him a chunk of his first big league season, but he turned in an even 3.00 earned run average through 18 starts. Teoscar Hernández inked a one-year, $23.5MM pillow contract that was also deferred. The two-time All-Star was coming off a down year with the Mariners but rebounded with a 33-homer showing reminiscent of his best days with the Blue Jays.

Freeman was a big-ticket signee coming out of the lockout in 2022. He inked a six-year, $162MM deal (deferrals knocked the NPV closer to $140MM). The former MVP has picked up where he left off in Atlanta. He’s a .314/.399/.520 hitter in more than 2000 plate appearances across three seasons with Los Angeles.

Taylor, Brasier, Enrique Hernández and Treinen have all re-signed with the Dodgers in recent years. Los Angeles acquired Taylor from the Mariners in 2016 for righty Zach Lee. Taylor developed into a key super utility piece whom the Dodgers eventually re-signed for $60MM.

Treinen has signed successive short-term contracts and continues to pitch well at the back of Roberts’ bullpen when healthy. Enrique Hernández is a clubhouse favorite who has tended to elevate his game in October. The Dodgers reacquired him from the Red Sox at the 2023 deadline and brought him back on a $4MM free agent pact last winter. Los Angeles signed Brasier to a minor league deal midway through the 2023 season after he was released by the Red Sox. He dominated in Southern California and returned on a two-year, $9MM contract.

First-Year Player Draft (5)

Buehler, Lux and Smith are former first-round picks. Buehler fell to 24th overall coming out of Vanderbilt in 2015 because of concerns about his arm health. He underwent Tommy John surgery shortly after being drafted but developed into an ace before going under the knife again in 2022. He has been a shell of his former self this year. The Dodgers grabbed both Lux and Smith the following year. L.A. took Lux 20th overall out of a Wisconsin high school before grabbing Smith, a Louisville product, 12 picks later.

He has three career MLB appearances. Knack was a senior sign out of East Tennessee State in 2020. He started 12 of 15 appearances with solid results, but he’s working in low-leverage relief in October. Casparius, a UCONN product, went in the fifth round in 2021.

Minor League Contracts (2)

Muncy was an excellent find. A career .195/.290/.321 hitter when he was waived by the A’s, he signed a minor league deal in April 2018. He has four 35-homer seasons and three years with appearances on MVP ballots in the seven years since then. Muncy has signed successive extensions and has a .230/.356/.487 line in nearly 3000 plate appearances in a Dodger uniform.

Hudson re-signed with L.A. on a minor league deal last offseason. There seemed to be a handshake agreement that the Dodgers would carry him on the Opening Day roster. Hudson was coming off consecutive seasons wrecked by knee injuries but stayed healthy and tossed 65 innings of 3.00 ERA ball this year.

International Amateur Signing (1)

The Dodgers signed Pages for $300K out of Cuba in 2018. The outfielder has improved his stock to become one of the organization’s top prospects. He debuted this season and hit .248/.305/.407 with 15 homers.

Waivers (1)

Los Angeles claimed Honeywell off waivers from the Pirates in June. They waived him themselves but called him back up at the end of August.

Offseason Outlook: Atlanta Braves

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After finishing the 2023 season with the best record in baseball, the Braves disappointed somewhat in 2024 amid an avalanche of injuries to star players and underwhelming numbers from much of their offensive nucleus. This offseason, they'll need to reshape their rotation as their longest-tenured starter hits free agency while also overhauling their bench mix in hopes of re-capturing their hold over their NL East from the division-champion Phillies and a surging Mets club that made it all the way to Game 6 of the NLCS.

Guaranteed Contracts

  • Austin Riley, 3B: $176MM through 2032 (deal includes club option for 2033)
  • Matt Olson, 1B: $110MM through 2029 (deal includes club option for 2030)
  • Spencer Strider, RHP: $73MM through 2028 (includes $5MM buyout on 2029 club option)
  • Michael Harris II, CF: $64MM through 2030 (includes $5MM buyout on 2031 club option; additional club option for '32)
  • Sean Murphy, C: $60MM through 2028 (deal includes club option for 2029)
  • Ronald Acuna Jr. RF: $44MM through 2026 (includes $10MM buyout on 2027 club option; additional club option for '28)
  • Jorge Soler, RF: $32MM through 2026
  • Reynaldo Lopez, RHP: $26MM through 2026 (includes $4MM buyout on 2027 club option)
  • Chris Sale, LHP: $22MM through 2025 (deal includes club option for 2026)
  • Joe Jimenez, RHP: $18MM through 2026
  • Raisel Iglesias, RHP: $16MM through 2025
  • Ozzie Albies, 2B: $11MM through 2025 (includes $4MM buyout on 2026 club option; additional club option for '27)
  • David Fletcher, INF/RHP: $8MM through 2025 (includes $1.5MM buyout on 2026 club option)
  • Pierce Johnson, RHP: $7.25MM through 2025 (includes $250K buyout on 2026 club option)
  • Orlando Arcia, SS: $3MM through 2025 (includes $1MM buyout on 2026 club option)

Option Decisions

  • Marcell Ozuna, DH: $16MM club option with $1MM buyout
  • Travis d'Arnaud, C: $8MM club option with no buyout
  • Aaron Bummer, LHP: $7.25MM club option with $1.25MM buyout (deal also includes $7.5MM club option for 2026 with no buyout)
  • Luke Jackson, RHP: $7MM club option with $2MM buyout

2025 financial commitments: $188.75MM
Total long-term financial commitments: $674.5MM

Arbitration-Eligible Players (projected salaries via MLBTR contributor Matt Swartz)

Non-tender candidates: Laureano, Biggio, Ynoa, White

Free Agents

Max Fried, Charlie Morton, A.J. Minter, Whit Merrifield, Gio Urshela, Adam Duvall, Jesse Chavez, John Brebbia

With a number of quality players still under long-term team control, Atlanta remains firmly in the midst of its competitive window despite a disappointing 89-win campaign in 2024. The impending free agency of Max Fried, who has anchored the club's rotation for the past half decade, would perhaps be more concerning for the club's chances of rebounding in 2025 if GM Alex Anthopoulos's front office hadn't already successfully navigated the departures of both MVP first baseman Freddie Freeman and All-Star shortstop Dansby Swanson in recent years.

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Offseason Outlook: Philadelphia Phillies

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The Phillies won 87 games in 2022 and lost the World Series, won 90 games in 2023 and lost the NLCS, and then won 95 games and the NL East title this season but lost to the Mets in the NLDS.  This mixture of progression and decline is becoming increasingly frustrating to a team built to win now, though with so much payroll already committed, president of baseball operations Dave Dombrowski might have to get creative in fixing some roster weaknesses.

Guaranteed Contracts

2025 financial commitments: $220,219,156
Total future commitments: $846,258,117

Arbitration-Eligible Players (projections from MLBTR contributor Matt Swartz)

Free Agents

The warning lights on the Phillies' season started flashing well before the playoffs, as the team raced out to a dominant 45-19 start before posting a far more modest 50-48 record in its final 98 games.  Such players as Trea Turner, Ranger Suarez and Alec Bohm cooled off after hot starts, injuries to Suarez and Spencer Turnbull exposed a lack of rotation depth, and the team's trade deadline additions had mixed results.

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Previewing Upcoming Qualifying Offer Decisions: Pitchers

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While the baseball world’s immediate focus is on the upcoming showdown between two behemoths, the offseason looms just after the World Series. One of the first key decisions for teams is whether to issue a qualifying offer to any of their impending free agents. Clubs have until the fifth day after the conclusion of the World Series to make QO decisions.

The QO is a one-year offer calculated by averaging the 125 highest salaries in MLB. This year’s price is $21.05MM. Joel Sherman of The New York Post reported in August that players who receive the QO have until November 19 to decide whether to lock in that one-year salary and return to their current team. If the player rejects and signs elsewhere, his former team would receive draft compensation. The signing club would forfeit a pick (or picks) and potentially international signing bonus space. The compensation and penalties vary depending on teams’ revenue sharing and luxury tax statuses. MLBTR’s Mark Polishuk recently examined what each team would receive if they lose a qualified free agent, and the penalties they’d pay to sign one.

We looked at the candidates for a qualifying offer on the position player side yesterday. Today, it’s a look at the pitchers, where there are a couple borderline calls.

No-Doubters

These are the easiest QO decisions in the pitching class. Burnes and Fried are two of the three best pitchers available. (Blake Snell is ineligible.) They’ll reject the QO just as easily as their teams make the offer. Burnes will set his sights on a $200MM+ deal, while Fried should land five or six years well into nine figures.

As a revenue sharing recipient, Baltimore will get the top compensation if Burnes signs elsewhere for more than $50MM: a pick after the first round in next summer’s draft. Atlanta exceeded the luxury tax threshold, so they’ll receive minimal compensation. The Braves would get a selection after the fourth round if Fried departs.

Likely

Manaea will hit free agency once he makes the easy call to decline his $13.5MM player option. The southpaw ran with a full rotation opportunity in Queens after spending most of the ’23 season working in multi-inning relief with San Francisco. Manaea took all 32 turns and logged 181 2/3 innings of 3.47 ERA ball. He fanned a quarter of his opponents against an 8.5% walk rate while running a solid 11.7% swinging strike percentage. Manaea was dominant down the stretch, working to a 3.16 ERA while holding opponents to a .182/.251/.327 slash after July 1.

The veteran left-hander turns 33 in February. He should be in line for at least a three-year deal. Four is a real possibility. It’s hard to see Manaea accepting a QO. If he did, the Mets would probably be happy to have him back for just over $21MM (although it’d be a $44MM+ commitment after luxury taxes). This isn’t quite a lock to the same extent as the Burnes and Fried calls, but it’d be surprising if the Mets didn’t make the offer.

Borderline Calls

Severino is a trickier call for New York. He signed a one-year, $13MM pillow contract last offseason. Like Manaea, he stayed healthy and provided 30+ starts of mid-rotation production. Severino worked to a 3.91 earned run average through 182 innings. He was markedly better than he’d been during his final season with the Yankees. Still, it wasn’t a return to the form he’d shown early in his career in the Bronx.

The 30-year-old righty struck out a league average 21.2% of opposing hitters. He kept the ball on the ground at a solid 46% clip while walking just under 8% of batters faced. Those are all decent but not outstanding peripherals. Severino continued to struggle to miss bats on a per-pitch basis. His 9.4% swinging strike rate ranked 91st out of 126 pitchers with 100+ innings. Severino still has plus velocity, but his production is more in line with that of a third or fourth starter than a top-of-the-rotation force.

New York could be fine with that. If the Mets expect him to repeat this year’s production, $21.05MM is a decent investment. It’d again be $44MM+ after taxes, but Steve Cohen hasn’t shied away from huge CBT bills. Severino could be the player whose market value is most affected by whether he receives the QO. There are parallels to where Jameson Taillon and Taijuan Walker stood as free agents. Neither of those pitchers got a qualifying offer; they each landed four-year deals in the $70MM range. That kind of contract would be a tougher sell if a team is also giving up a draft pick.

The Mets would only get a post-fourth round pick as compensation if Severino declines the QO and walks. That’s not much. It’d be a prospect who might sneak into their organizational top 30. The offer is only worthwhile if the Mets would be happy to have Severino back at that price point. We’ll see in a few weeks how highly they value him.

Wacha’s two-year, $32MM free agent deal allows him to opt out after this season. The veteran righty should retest the market after a strong year in Kansas City. He turned in a 3.35 ERA across 166 2/3 innings. Wacha missed a bit of time in June with a small fracture in his left foot, but he was otherwise durable. It’s the second-highest inning total of his career and his third straight season allowing fewer than 3.50 earned runs per nine.

It’s not the flashiest profile. Wacha’s swing-and-miss and grounder rates are just alright. He has plus control and generally does a strong job avoiding hard contact. He’s not going to be valued as an ace, but he continues to churn out quality results despite playing on his sixth team in as many years.

An offer just north of $21MM might feel rich for Kansas City, but it’s not that much higher than the $16MM salary which they paid Wacha this past season. The Royals got what they wanted in year one, as Wacha joined Cole Ragans and Seth Lugo as a rotation nucleus that helped push them to a surprise trip to the AL Division Series.

This is a situation where the player accepting a qualifying offer might work out well for everyone involved. It’d give Wacha a $5MM+ raise and allow him to spend multiple seasons with a team for the first time since he left the Cardinals in 2019. Kansas City could keep their rotation intact. If the Royals don’t make the QO, Wacha has a shot at three years and a guarantee above $40MM going into his age-33 campaign. That’d be less likely if he’s attached to draft compensation.

Long Shots

Bieber could’ve been a QO candidate had he been healthy. He blew out after two fantastic starts and underwent Tommy John surgery in April. Bieber could return in the first half of next season, but he’d probably accept a qualifying offer. That’s likely too risky for Cleveland, though they could try to bring him back on an incentive-laden deal that allows him to approach $20MM if he stays healthy.

Hoffman is one of the best relievers in the class. He has had a dominant two-year run with Philadelphia, working to a 2.28 ERA in 118 2/3 innings. There’s no precedent for teams making a qualifying offer to non-closing relievers, though. The rare reliever QO has generally gone to pitchers with longer track records than Hoffman possesses and at least one full season of closing experience (i.e. Josh Hader, Raisel Iglesias, Will Smith, Greg Holland, Wade Davis, Kenley Jansen).

Martinez is going to decline a $12MM player option with Cincinnati. If he doesn’t get the QO, he’ll get another multi-year deal that could push beyond $30MM. Martinez had a third consecutive strong season, turning in a 3.10 ERA over 142 1/3 innings while working in a swing role. He started 16 of 42 appearances. If the Reds were committed to giving Martinez a rotation spot, there’d be an argument for the offer. A salary north of $21MM is a hefty sum for a player who has never really held a full-time starting job in MLB, though. The Reds spent around $100MM on player payroll this year. If they stay in that range, a Martinez QO would risk tying up more than 20% of their budget.

Pivetta has been durable and routinely posts plus strikeout and walk rates. He throws hard, misses bats and fares well in the eyes of ERA estimators that place a heavy emphasis on a pitcher’s K/BB profile. Nevertheless, he’s never had a season with a sub-4.00 earned run average. Pivetta gives up a bunch of hard contact and always allows more home runs than the average pitcher. He’s a solid innings eater, but the Sox have had four-plus seasons to try to unlock another gear and haven’t been able to do so. He’d likely accept the QO if offered. Boston probably prefers to keep that money in reserve and look for a clearer top-of-the-rotation arm.

Ineligible

Players traded midseason or who have already received the qualifying offer in their career are ineligible for the QO. Eovaldi, Scherzer and Snell each have a previous QO. Snell and Eovaldi would’ve been easy calls if they could’ve received them.

The midseason trade took the QO off the table for Flaherty, Kikuchi and Scott. The latter wouldn’t have gotten one from the Marlins in either case, but he’s the top reliever in the class. Flaherty would’ve been a lock for the QO if the Tigers hadn’t traded him at the deadline. Getting moved to the Dodgers gives him a chance to pitch in the World Series and took draft compensation off the table for his return trip to free agency. Kikuchi dominated after a deadline deal to the Astros and could command something like the QO salary on a three-year deal covering his ages 34-36 seasons.

Offseason Outlook: Minnesota Twins

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The Twins enraged fans by slashing roughly $30MM of payroll after finally breaking their postseason losing streak last year, only to eventually endure one of the worst collapses of any team in recent history. As fans reeled from seeing a club that was a 95% playoff favorite late in the year somehow miss the postseason entirely, ownership announced its intent to explore a sale of the team. It's going to be quite the offseason in Minnesota.

Guaranteed Contracts

Guaranteed salary for the 2025 season: $93MM
Total long-term guaranteed money: $274MM

Option Decisions

  • Manuel Margot, OF: $12MM mutual option with $2MM buyout (Rays responsible for buyout)
  • Kyle Farmer, INF: $6.25MM mutual option with $250K buyout
  • Jorge Alcala, RHP: $1.5MM club option with $55K buyout (would remain arb-eligible if declined)

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

Free Agents

It's been less than two years since the Twins installed Joe Pohlad as their executive chair and control person of the club. The grandson of Carl Pohlad, who purchased the club in 1984, and nephew of his successor Jim Pohlad, Joe took over control of the club not long after turning 40 years old. His first offseason instilled hope of a changing tide in Minnesota. The Twins handed out a franchise-record $200MM contract to keep Carlos Correa in Minnesota. By 2023, they trotted out a club-record payroll approaching $160MM and, for the first time since 2002, won a playoff series.

The good vibes didn't last. As soon as last offseason began, talk of reducing payroll amid uncertainty surrounding the team's television deal emerged. The Twins were one of several teams impacted, but few clubs pulled back spending to the extent of Minnesota. Payroll was slashed by about $30MM -- roughly 20% of the team's total spending the year prior -- leaving the front office to operate on the margins and bring in a series of budget-driven, short-term pickups to address a sweeping slate of needs, most notably the departure of 2023 AL Cy Young runner-up Sonny Gray.

Nearly all of the bargain pickups the Twins put together fell short. Carlos Santana proved a successful move, hitting .238/.328/.420 with 23 homers and Gold Glove-caliber defense at first base. The others flopped.

Free agent relievers Jay Jackson and Josh Staumont struggled and were released midseason. Anthony DeSclafani, who'd missed most of '23 with injury, had season-ending surgery before the season began. Justin Topa, acquired alongside DeSclafani in the trade sending Jorge Polanco to the Mariners, missed almost all season with a knee injury suffered in spring training. Steven Okert, acquired for Nick Gordon, was dropped from the 40-man roster in August. The Twins got a couple prospects of note in that Polanco trade (Gabriel Gonzalez, Darren Bowen), so maybe it'll pan out in the long run, but insofar as the 2024 campaign is concerned, every addition fell short.

Despite those offseason whiffs, the Twins were in contention for much of the season. A good portion of that was spent chasing an upstart Guardians club, but for most of the summer the Twins were given overwhelming odds to reach the postseason. Even on Sept. 5, FanGraphs gave them a 95.4% chance of reaching the playoffs. The Twins faceplanted as the Tigers surged past them. Joe Pohlad opened the offseason by sidestepping payroll questions but pledging to put a better product on the field (X link via Aaron Gleeman of The Athletic).

Within the next two weeks, major changes had seized headlines in Minnesota. The Twins saw general manager Thad Levine -- No. 2 on their baseball operations hierarchy behind president Derek Falvey -- step down and leave the club. Days later, the Twins sent a press release announcing the Pohlad family's intent to explore a sale of the team.

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Offseason Outlook: Chicago White Sox

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On the heels of one of the worst seasons in baseball history, the White Sox must stockpile young talent while operating under a cloud of uncertainty about the future of the franchise.

Guaranteed Contracts

  • Andrew Benintendi, LF: $47.5MM through 2027
  • Luis Robert Jr., CF: $15MM through 2025, with a $20MM club option ($2MM buyout) for 2026 and the same club option for '27

Option Decisions

  • Yoan Moncada, 3B: $25MM club option with a $5MM buyout
  • Max Stassi, C: $7.5MM club option with a $500K buyout

Additional Obligations

2025 financial commitments: $40.75MM
Total future commitments: $71.75MM

Arbitration-Eligible Players (service time in parentheses; salary projections via Matt Swartz)

Free Agents

While we knew this team would be bad, we didn't realize it would be historically bad.  The 2024 White Sox set the modern record for total losses with 121, and it easily could have been worse had they not surged to win five of their last six games.  Starting pitchers Garrett Crochet and Erick Fedde were the only glimmers of hope, but the latter was traded and the former seems on his way out.

The Sox fired manager Pedro Grifol on August 8th, with Grady Sizemore serving as interim manager for the remainder of the season.  Sizemore is at least under consideration for the full-time job, but the list of known candidates has also included Donnie Ecker, Will Venable, Clayton McCullough, Danny Lehman, George Lombard, A.J. Ellis, Phil Nevin, Daniel Descalso, and Skip Schumaker.  Grifol was Rick Hahn's hire, so the new manager will be the first chosen by senior vice president/GM Chris Getz.

Beyond the managarial change, existential issues loom over the White Sox.  One is whether longtime owner Jerry Reinsdorf intends to sell the team.  On October 16th, Brittany Ghiroli of The Athletic reported that Reinsdorf is "open to selling" the team, and furthermore, "is in active discussions with a group led by former big leaguer Dave Stewart."  Stewart's involvement has led to speculation about potentially moving the team to Nashville, given the former pitcher's efforts to bring an MLB team to that city.

The Stewart rumor follows January news of Reinsdorf's aim of getting a new stadium built in a (Chicago) South Loop area called "The 78."  A relocation threat is one of the oldest in the new-stadium playbook, of course, and Reinsdorf successfully leveraged a potential move to St. Petersburg back in 1988 to get the current Guaranteed Rate Field built in Chicago.  Back in 1995, Reinsdorf famously said in reference to his St. Petersburg play in a Cigar Aficionado interview, "A savvy negotiator creates leverage. People had to think we were going to leave Chicago."

Moving from Chicago to St. Petersburg hardly made sense in terms of market size, and the same is true of Nashville now.

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Offseason Outlook: Tampa Bay Rays

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Despite significant injuries on the pitching front, the Rays spent much of the season's first half in or on the periphery of the Wild Card chase. The front office took advantage of a seller's market at the deadline even though the club was hovering around .500, bolstering the farm, reducing payroll and setting the stage for what could be a quick turnaround.

Guaranteed Contracts

  • Jeffrey Springs, LHP: $21.75MM through 2026 (includes $750K buyout of $15MM club option for 2027)
  • Yandy Diaz, 1B: $10MM through 2025 (contract contains $12MM club option for 2026, with no buyout)
  • Pete Fairbanks, RHP: $4.667MM through 2025 (includes $1MM buyout of $7MM club option for 2026)
  • Shane McClanahan, LHP: $3.6MM through 2026 (McClanahan is arb-eligible for two more years thereafter)

2025 financial commitment: $27.766MM
Total long-term financial commitments: $40MM

Other Financial Obligations

  • Wander Franco owed $172MM through 2032; Rays unlikely to pay remainder of contract due to abhorrent allegations against Franco and subsequent legal proceedings in Dominican Republic
  • $2MM to Twins for buyout of Manuel Margot's 2025 club option

Option Decisions

  • Brandon Lowe, 2B/OF: $10.5MM club option with $1MM buyout (contract also contains $11.5MM club option for 2026 with $500K buyout)

Arbitration-Eligible Players (service time in parentheses; projected salaries via MLBTR contributor Matt Swartz)

Free Agents

  • None

As we began this year's Offseason Outlook series, the top focus for the Rays was understandably on the team's roster and reshaping an offense that lacked balance, struggled against righties and was far too whiff-prone. While the series was being written, however, a far broader-reaching issue arose. The awful damage stemming from Hurricane Milton and Hurricane Helene has wrought incalculable, heartbreaking levels of damage on the country's southeast region. The big-picture focus, of course, is on helping those impacted and rebuilding those ravaged communities. In the grand scheme of things, the logistical challenges a natural disaster of this magnitude presents to a baseball team are trivial, at best.

Nonetheless, for the Rays themselves, Hurricane Milton created an unexpected and undeniable challenge the team will have to address. The roof of Tropicana Field was shredded, exposing a stadium interior that does not have a drainage system. It's not yet clear when the facility could return to a serviceable state, but the Rays aren't likely to have their home field available to them to begin the 2025 season. They'll spend as much time and energy this offseason determining where they'll play their home games as they will augmenting their roster. We at MLBTR extend our deepest and most heartfelt condolences to all affected by the tragedy in the southeast.

Turning to the baseball operations side of the offseason, the Rays have a clear picture of what went wrong. Tampa Bay entered the 2024 campaign with an injury-ravaged rotation. Starters Shane McClanahan (Tommy John surgery), Drew Rasmussen (flexor tendon surgery) and Jeffrey Springs (Tommy John surgery) were set to miss some or all of the 2024 season while recovering from surgery. Former top pitching prospect Shane Baz was finishing off recovery from his own Tommy John procedure, performed late in the 2022 season.

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Previewing Upcoming Qualifying Offer Decisions: Position Players

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While the baseball world’s immediate focus is on the upcoming showdown between two behemoths, the offseason looms just after the World Series. One of the first key decisions for teams is whether to issue a qualifying offer to any of their impending free agents. Clubs have until the fifth day after the conclusion of the World Series to make QO decisions.

The QO is a one-year offer calculated by averaging the 125 highest salaries in MLB. This year’s price is $21.05MM. Joel Sherman of The New York Post reported in August that players who receive the QO have until November 19 to decide whether to lock in that one-year salary and return to their current team. If the player rejects and signs elsewhere, his former team would receive draft compensation. The signing club would forfeit a pick (or picks) and potentially international signing bonus space. The compensation and penalties vary depending on teams’ revenue sharing and luxury tax statuses. MLBTR’s Mark Polishuk recently examined what each team would receive if they lose a qualified free agent, and the penalties they’d pay to sign one.

No-Doubters

There’s zero suspense with this quintet. They’re going to receive qualifying offers, which they’ll easily decline. Soto is on his way to a record-setting deal. Adames and Bregman are locks for nine figures. Alonso has a solid chance to get there as well. It’s tougher to envision a $100MM contract for Santander, but he shouldn’t have any issue securing three or four years at an average annual value that’s around the QO price. As revenue sharing recipients, the Brewers and Orioles will get picks after the first round in the 2025 draft (assuming Adames and Santander sign for more than $50MM). The Mets, Yankees and Astros all paid the luxury tax and would only get a pick after the fourth round if they lose their qualified free agents.

Likely Recipients

We placed Hernández in the “likely” bucket last offseason when he was coming off a down year with the Mariners. Seattle opted not to make the QO and let him walk, citing a desire to cut back on the swing-and-miss profile that Hernández brings. That paved the way for the Dodgers to add him on a heavily deferred $23.5MM pillow contract. It was one of the best value signings of the winter. Hernández returned to peak form, bopping a career-best 33 homers with a .272/.339/.501 line through 652 plate appearances. That’s more than enough power to live with a few strikeouts and a fringy defensive profile in the corner outfield.

The cherry on top for L.A. is that Hernández remains eligible for the QO in his return to free agency. The Dodgers could accommodate a $21MM salary in the unlikely event that he accepts. As luxury tax payors, they’d only receive a pick after the fourth round in next year’s draft if he declines and walks. That minimal compensation is the biggest reason Hernández isn’t a lock, but he’s very likely to decline the QO in search of three or four years. The downside if he accepts is that he returns at a similar price point to the one Los Angeles offered coming off a rough season. Opting against the QO only makes sense if the Dodgers are fully committed to giving Andy Pages a look in left field next season.

Walker has seized upon a late-career opportunity with the Diamondbacks to develop into one of the sport’s best first basemen. He’s a Gold Glove caliber defender who topped 30 homers in both 2022 and ’23. He’d have gotten there again this season if not for an oblique injury that cost him the entire month of August. Walker had to “settle” for 26 homers with a .251/.335/.468 slash over 130 games.

The South Carolina product turns 34 just after Opening Day. He’s looking at four years at most and could wind up signing for two or three seasons. That could come at a comparable AAV to the qualifying offer price, though, and this is likely Walker’s only chance to really cash in on a multi-year contract. He’d likely decline a QO. If he didn’t, the D-Backs should be happy to have him back for another season at just over $21MM. The majority of MLBTR readers agree; more than 70% of respondents in a poll over the weekend opined that the Diamondbacks should make the offer.

Long Shots

It’s tough to see a qualifying offer for anyone in this group. Goldschmidt is the least likely. The Cardinals are entering a retooling year and he’s coming off the worst season of his career. The former MVP hit better in the second half than he did in the first. He should land a strong one-year deal but isn’t likely to get to $21MM.

Kim looked like a lock for the QO before suffering a late-season labrum injury in his throwing shoulder. He underwent surgery that’ll almost certainly sideline him into the early part of next year. There’s a decent chance he’d accept, which isn’t a great outcome for a Padres team that may enter the offseason already up against the budget. Payroll is a similar concern regarding Profar, who is coming off easily the best season of his career. He’s been wildly inconsistent throughout his decade-plus in the big leagues. San Diego baseball operations president A.J. Preller loves Profar, but $21MM+ is a lot for a team with a massive arbitration class and needs at shortstop and in the rotation. The Padres could try to bring him back for three or four years at a lesser annual hit.

O’Neill had a productive season for the Sox, hitting 31 homers with a .241/.336/.511 slash. He added three more IL stints to his lengthy career injury history, though, and the overwhelming majority of his production came against left-handed pitching. O’Neill’s righty bat provides a nice balance in a Boston lineup that skews heavily to the left side, but the QO price feels steep for this profile. There’s a strong chance he’d accept.

Torres would not have warranted a mention on this list a couple months ago. He had an excellent finish to the regular season (.306/.375/.417 after August 1) and has a .297/.400/.432 slash with more walks than strikeouts in October. That’s enough to at least get him back on the radar, but a QO still feels like a stretch. He’s a poor defensive second baseman whose overall season line — .257/.330/.378 in 665 plate appearances — was essentially league average.

At the trade deadline, the Yankees seemed set to turn the keystone to Jazz Chisholm Jr. and let Torres walk. They could keep Chisholm at the hot corner, but they’d need to overlook the flaws Torres showed for a good portion of the regular season. There’s a strong chance he’d accept a QO, which would put the Yanks on the hook for more than $44MM after accounting for the corresponding luxury tax hit. Tying that money up a week into an offseason where they’ll face a massive bidding war on Soto probably isn’t happening. That’s especially true since the compensation they’d receive if Torres declines (a pick after the fourth round) isn’t particularly valuable.

Ineligible

Players traded midseason or who have already received the qualifying offer in their career are ineligible for the QO. That’s largely a moot point with regard to the position player class, as no one from this group was likely to receive one anyways. Bellinger probably won’t opt out of the two years and $50MM left on his deal with the Cubs. Conforto and Pederson would’ve been fringe candidates at best even if they hadn’t received the offer earlier in their careers.

Each Team’s Penalty For Signing A Qualified Free Agent

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Since we just looked at what teams would stand to receive in draft compensation if they lost a free agent who rejected a qualifying offer, now it’s time to explore what each team would have to give up in order to sign a QO-rejecting free agent.

To recap the mechanics: if a free agent has played the entire 2024 season with a team and he has never received a qualifying offer in the past, he is eligible to be issued a QO within five days of the end of the World Series.  The qualifying offer is a one-year deal worth the average of the salaries of the top 125 highest-paid players in the majors, and this winter, the QO is worth $21.05MM.  An eligible free agent can simply accept the QO and thus avoid free agency entirely, but if he rejects the QO, his former team is now in line to receive some draft-pick compensation if the free agent signs elsewhere.  This only relates to qualified free agents from other teams, as a club can re-sign its own qualified free agents with no penalty.

Here is the (mostly set) rundown of what every team will have to give up if they sign qualified free agent.…

Revenue Sharing Recipients: Diamondbacks, Rockies, Reds, Brewers, Pirates, Marlins, Athletics, Mariners, Tigers, Royals, Twins, Guardians, Orioles, Rays

Should one of these clubs sign a qualified free agent, they will have to give up their third-highest selection in the 2025 draft.  Since most of these smaller-market teams are part of the Competitive Balance bonus rounds of the draft, their third-highest pick likely won’t mean their third-round pick, and the situation could be further complicated if any of the teams trade from their CBR picks.  The Competitive Balance selections are the only draft picks eligible to be traded, as we saw last winter when the Orioles included their CBR-A pick to the Brewers as part of the Corbin Burnes trade package.

It is relatively rare to see teams from this group splurge on a big-ticket free agent, though Baltimore is expected to increase spending under new owner David Rubenstein.  The Tigers also have plenty of payroll space and could look to build more aggressively around their young core, after Detroit unexpectedly made a run to the ALDS this season.

Teams Who Don’t Receive Revenue-Sharing Funds, And Who Didn’t Pay The Competitive Balance Tax: Padres, Cardinals, Nationals, Angels, White Sox, Red Sox

For signing a qualified free agent, these teams would have to surrender their second-highest pick of the 2025 draft, and also $500K from their bonus pool during the next international signing period.

The White Sox and now the Cardinals are both rebuilding.  The Padres can never be ruled out of making a splashy signing, but that seems unlikely given how the team has a lot of its own impending free agents to address, plus San Diego made a point of getting under the luxury tax threshold last offseason.  Angels owner Arte Moreno has said his club plans to contend in 2025 and the payroll will go up, though that might not manifest itself in the form of signing a qualified free agent, given how often the Halos have been burned on such signings in the past.

Washington and Boston are both borderline candidates for a big free agent signing.  The Nats are still technically in rebuild mode themselves, but could decide that the time is right to add some major veteran help to an intriguing mix of younger players.  The Red Sox have generally eschewed pursuits of pricey free agents in recent years, though since they haven’t had a winning season since 2021, ownership might be again willing to be more aggressive in shopping at the high end of the market.

Team In Limbo: Blue Jays, Cubs

As noted in the last post, it won’t be known until December (when the luxury tax numbers are officially calculated by the league) whether or not the Jays and Cubs managed to sneak under the $237MM tax threshold.  Roster Resource has both teams slightly above the threshold while Cot’s Baseball Contracts has the Cubs slightly over and the Blue Jays slightly under, so given how narrow the margins are, we’ll wait until the league issues its numbers before putting the two clubs in either the previous category or the next category.

Needless to say, both clubs are hoping for a reset on their luxury tax status, and lesser penalties for signing QO-rejecting free agents.  The Jays and Cubs are also two of the teams facing the most pressure to win in 2025, and thus could be more open to making a big signing to help turn things around.  If MLB’s calculations reveal that Toronto and Chicago did exceed the threshold this year, they’ll join the next group of…

Competitive Balance Tax Payors: Dodgers, Giants, Mets, Phillies, Braves, Astros, Rangers, Yankees

As one would expect, these teams face the stiffest penalties. For signing a QO-rejecting free agent, these clubs would have to give up $1MM in international bonus pool money, as well as two draft picks — their second- and fifth-highest selections in the 2025 draft.

Astros GM Dana Brown has said his team “may have to get a little bit creative” with their spending given how many big contracts are already on the books.  The same could be said for the Phillies and Braves as well, but it is also easy to see both teams remaining aggressive after falling short in the playoffs.  The Rangers have a lot of money coming off the books but, given their uncertain broadcast revenue situation, could spend but still make a point of ducking back under the luxury tax line.  San Francisco will be an intriguing team to watch, now that Buster Posey is running the front office and how the Giants already spent big to keep a pending free agent in the fold by extending Matt Chapman.

Since re-signing Juan Soto or re-signing Teoscar Hernandez wouldn’t cost anything in QO penalties, keeping those sluggers is likely the top priority for the Yankees and Dodgers, with other free agents perhaps as backup plans if Soto or Hernandez signed elsewhere.  The Mets were relatively quiet in David Stearns’ first winter as president of baseball operations, some more big spending might be in the works if owner Steve Cohen wants to build on the club’s playoff run.

All this being said, the higher penalties for CBT payors can be deterrents to spending on qualified free agents in particular.  This doesn’t mean the Yankees wouldn’t look to retain Soto or anything, but teams might prefer to make their big upgrades through trades, or perhaps with free agents who won’t have a QO attached to their services.

Should a club sign more than one qualified free agent, they will have to additionally forfeit their next-highest draft pick. For signing two QO-rejecting free agents, the revenue-sharing group would have to give up their third- and fourth-highest picks in the 2024 draft. The teams who didn’t exceed the CBT or receive revenue-sharing funds would have to give up their second- and third-highest picks, as well as $500K more of their international bonus pool. The luxury tax payors would face the heftier penalty of losing four draft picks — their second, third, fifth, and sixth-highest selections.

Each Team’s Draft Compensation For Losing A Qualified Free Agent

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The qualifying offer is one of the key mechanisms of free agent season, as teams have until five days after the end of the World Series to decide whether or not to issue the one-year contract (this winter worth $21.05MM) to eligible free agents.  If a player has played with his team throughout the entire 2024 season and hasn’t received a QO in the past, he is eligible to be issued a qualifying offer, and thus the player can opt to accept the QO and forego free agency altogether.

If the player rejects the QO, his former team is now in line to receive some draft-pick compensation if the free agent signs elsewhere.  Here is the (mostly set) rundown of what every team will receive should one of their qualified free agents indeed head to another club….

Revenue Sharing Recipients: Diamondbacks, Rockies, Reds, Brewers, Pirates, Marlins, Athletics, Mariners, Tigers, Royals, Twins, Guardians, Orioles, Rays

If any of these teams has a QO-rejecting free agent who signs elsewhere for more than $50MM in guaranteed money, the compensatory pick falls after the first round of next year’s draft.  (For instance, the Twins received the 33rd overall pick in the 2024 draft when the Cardinals signed Sonny Gray to a three-year, $75MM contract last winter.)  If a team has a QO-rejecting free agent who signs elsewhere for less than $50MM guaranteed, the compensatory pick would come between Competitive Balance Round B and the start of the third round.  The 2024 draft didn’t have of these latter selections, but in 2023, these compensation picks were the 68th, 69th, and 70th overall selections.

The Brewers will surely issue Willy Adames a qualifying offer, and the Orioles are just as certain locks to extend QOs to both Corbin Burnes and Anthony Santander.  Christian Walker also seems pretty likely to receive a QO from the Diamondbacks.  Michael Wacha is expected to decline his $16MM player option for 2025 and re-enter the free agency market, and thus the Royals could well decide to issue a qualifying offer to the veteran righty.  Nick Martinez is a borderline candidate for a QO, just because $21.05MM is a steep price tag for a lower-payroll team like the Reds to give to a pitcher who might be best utilized as a swingman.  Martinez is another player facing a decision on a player option, as he can opt out and leave $12MM on the table to again pursue free agency.

Teams Who Don’t Receive Revenue-Sharing Funds, And Who Didn’t Pay The Competitive Balance Tax: Padres, Cardinals, Nationals, Angels, White Sox, Red Sox

For these teams, the compensatory pick for losing a qualified free agent would also fall between CBR-B and the start of the third round (regardless of whether the player signed for more or less than $50MM).  The Angels qualified for this bracket in 2023 by just barely squeezing under the tax line, thus enabling the team to receive the 74th overall pick as compensation when Shohei Ohtani signed with the Dodgers.

This year’s free agent class offers a few borderline QO candidates from these six teams.  Boston’s Tyler O’Neill and San Diego’s Jurickson Profar and Ha-Seong Kim could conceivably get qualifying offers, though the teams could be weighing the pros and cons right up to the QO deadline.  In Kim’s case, the Padres will want all the information they can get about how the shortstop is faring in the early stages of his recovery from shoulder surgery.

Teams In Limbo: Blue Jays, Cubs

It should be noted that these lists of teams and their Competitive Balance Tax status won’t be finalized until the league releases its official numbers in December.  It usually isn’t too difficult to figure out which teams surpass the $237MM tax threshold, and sites like RosterResource and Cot’s Baseball Contracts do excellent work in calculating luxury tax estimates over the course of a season.  MLB’s internal calculations could differ, however, or factor in some salary data that isn’t publicly known, so we won’t know for a while yet if Toronto and/or Chicago are tax payors or not.

The Cubs are just barely past the $237MM tax line in the view of both public websites — RosterResource has their 2024 tax number at slightly above $238.4MM and Cot’s has an even closer call of $237.2MM.  The two sites split when it comes to the Blue Jays, as RR has them over the threshold at roughly $240.4MM, while Cot’s has the Jays under the threshold at around $234.98MM.

While this tax status may impact whether or not the Cubs and Blue Jays will pursue any QO-rejecting free agents, it’s a bit of a moot point here, as neither club has any free agents who seem like viable candidates for a qualifying offer.  If Cody Bellinger exercises his opt-out clause, Chicago can’t issue him a QO since Bellinger already received one in the past.

Competitive Balance Tax Payors: Dodgers, Giants, Mets, Phillies, Braves, Astros, Rangers, Yankees

If a team exceeds the luxury tax, they still receive a pick if a qualified free agent signed elsewhere, but that compensatory pick falls after the fourth round of the 2025 draft.  In the 2024 draft, these were the 134th, 135th, and 136th overall picks.

Juan Soto (Yankees), Alex Bregman (Astros), Teoscar Hernandez (Dodgers), Max Fried (Braves), and Pete Alonso (Mets) are all locks to receive qualifying offers.  The Mets could also weigh offers for Sean Manaea or Luis Severino, with Manaea seen as very likely to opt out of the final year of his contract with New York.

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