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Orioles Sign Ramón Laureano

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The Orioles announced that they have signed outfielder Ramón Laureano to a one-year deal. It reportedly comes with a $4MM guarantee for the the VaynerSports client and there’s also a $6.5MM club option for 2026. Infielder Luis Vázquez has been designated for assignment as the corresponding move.

Laureano, now 30, once looked like a star in the making in Oakland. But since returning from a PED suspension, he’s settled in as more of a solid role player. He had a career batting line of .263/.335/.465 and a 119 wRC+ in August of 2021, when it was announced that he tested positive for Nandrolone and had been given an 80-game suspension.

Since returning from that absence, he has slashed .230/.300/.392 for a wRC+ of 96. That includes 98 games in the 2024 season, split between Cleveland and Atlanta. He started with the Guardians but hit just .143/.265/.229 through 31 games. By the end of May, he had been designated for assignment, released and then landed a minor league deal with Atlanta.

He turned his fortunes around with that latter club, who had seen Ronald Acuña Jr. go down with a season-ending ACL tear. They brought Laureano in for some extra depth then added him to the roster when Michael Harris II hit the injured list. Laureano got into 67 games and put up a strong line of .296/.327/.505, production that translated to a 129 wRC+.

Although that was an impressive turnaround, there was also reason to suspect it wasn’t sustainable. He had a .380 batting average on balls in play during his time with Atlanta, well above last year’s .291 league average. Presumably, Atlanta was leery of that batted ball luck. They could have retained Laureano for the 2025 season via arbitration, with MLBTR contributor Matt Swartz projecting a $6.1MM salary. Instead, the club decided to non-tender him, sending him to the open market.

Even if Laureano’s offense regresses a bit closer to league average, he can still be a solid player. His sprint speed was in the 63rd percentile last year, according to Statcast, and he’s been able to swipe about ten bags per full season in his career. Reviews on his outfield defense are mixed. He has 21 Defensive Runs Saved in his career, including three last year, whereas Outs Above Average gave him -6 last year and has him at -14 for his career overall.

The O’s will also likely try to optimize his performance by limiting him to a platoon role. For his career, the righty-swinging Laureano has hit .274/.343/.460 against lefties and .236/.309/.418 against righties, leading to respective wRC+ numbers of 123 and 102. His split was even more extreme in 2024, as he had a .305/.343/.526 line and 139 wRC+ against southpaws, but a .236/.295/.393 line and 92 wRC+ otherwise.

The outfield mix in Baltimore leans left-handed, as does the lineup in general. Tyler O’Neill swings from the right side but Cedric Mullins, Colton Cowser and Heston Kjerstad are lefty-swinging outfielders. Infielders Gunnar Henderson, Ryan O’Hearn and Jackson Holliday also swing from the left side.

Laureano will likely slot into a part-time role for the O’s. He can occasionally spell those lefties to shield them from tough southpaws or just give them a day off. He can serve as a pinch runner or defensive replacement. He also gives them a bit of insurance for the oft-injured O’Neill, who has never played more than 138 games in a season and only topped 113 once.

Acquiring Laureano crowds the club’s bench mix. They have Gary Sánchez set to be the backup catcher and Ramón Urías backing up the infield. Jorge Mateo should have a spot if he’s recovered from last year’s elbow surgery by Opening Day. Laureano, Daz Cameron and Dylan Carlson are candidates for bench outfielder roles, though Carlson has options and could wind up playing regularly in Triple-A. Kjerstad could be down in Norfolk with him, if the regular outfield will feature O’Neill, Mullins and Cowser, with O’Hearn and Ryan Mountcastle in the first base/DH spots.

Ken Rosenthal of The Athletic first reported that the O’s and Laureano had agreed to a one-year, $4MM deal. Jake Rill of MLB.com first reported the presence of a 2026 club option, with Jon Heyman of The New York Post reporting the $6.5MM value.

Rays Sign Ha-Seong Kim

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The Rays officially announced the signing of Ha-Seong Kim to a two-year free agent deal. The Boras Corporation client is reportedly guaranteed $29MM and can opt out after the first season. Kim will make a $13MM base salary for the upcoming season. He can earn an additional $2MM in performance bonuses, as he’ll make $10K for every plate appearance between 326 and 525. If Kim forgoes the opt-out, he’ll make $16MM in 2026. Lefty Brandon Eisert has been designated for assignment in a corresponding move.

Kim’s free agency has been one of the more difficult ones to project on account of his uncertain health status. In August of last year, while with the Padres, he injured his right shoulder while diving back into first base on a pickoff attempt. He underwent surgery in October to repair the labrum in that shoulder. His agent, Scott Boras, has since suggested that Kim could be back on the field by April. Padres president of baseball operations A.J. Preller gave a more nebulous and less optimistic answer of “May, June, July.”

Prior to that injury, there was an argument for Kim securing a four- or five-year deal, perhaps approaching nine figures. But the injury to his throwing shoulder made that harder to see. Though he’s a solid hitter, a big part of his appeal as a player is his defense. He has played most of his career at shortstop but also has significant time at second and third base with strong marks at all three spots. If he comes back from surgery with diminished arm strength and is less viable on the left side of the diamond, that would cut into his value.

As such, it seemed likely that he would sign a deal that allowed him to return to free agency next year, either on a one-year deal or a two-year pact with an opt-out. That would give him the chance to potentially return, prove his health and sign another contract with the injury in the rear-view mirror.

At the start of the offseason, MLBTR predicted Kim for a straight one-year pact with a $12MM guarantee, though with the caveat he could follow players like Rhys Hoskins and Michael Conforto in securing a two-year pact with an opt-out. Hoskins got $34MM from the Brewers and Conforto $36MM from the Giants. Both are represented by Boras and Kim switched his representation to that agency in October, shortly after his injury.

The situations aren’t completely analogous. Both Hoskins and Conforto signed their deals after missing an entire season but were set to be healthy as those deals began. Kim, however, seems likely to start the season on the injured list. Kim’s guarantee comes in a bit below those guys, perhaps a reflection of the slightly different timeline.

That makes this an interesting gamble for the Rays. If Kim’s injury lingers towards the longer end of Preller’s timeline, it’s possible that they are going to be paying him $13MM for just half a season. If Kim doesn’t immediately get back in form, he could then forego his opt-out and stick around for 2026 with an even higher salary. For what it’s worth, both Hoskins and Conforto had tepid results in the first years of their respective deals and did not use their opt-outs.

The upside for the Rays is that they could get a really strong player for a relatively modest price. Kim struggled at the plate in 2021, his first season after coming over from Korea, but has been above average in each of the three seasons since then. He stepped to plate 1,678 times over the 2022 to 2024 campaigns, with his 11% walk rate and 17.9% strikeout rate both a few ticks better than average. While not a huge power threat, he got to double-digit homers in each of those campaigns, hitting 39 overall. His combined batting line of .250/.336/.385 led to a wRC+ of 106.

As mentioned, Kim is a strong defender at multiple positions. He also stole 72 bases over the past three years. Putting it all together, FanGraphs has considered him to be roughly a four-win player. He was credited with 3.6 fWAR in 2022 and 4.2 the year after. Last year, the injury limited him to just 121 games, so his fWAR tally came in a bit lighter at 2.6.

The Rays have some question marks at shortstop. Wander Franco was supposed to be the long-term answer there but he hasn’t played since August of 2023, when heinous allegations of sexual abuse against minors emerged. The legal process is still playing out on those charges but it would be surprising if he ever returns to the majors.

Players like Taylor Walls, José Caballero and Osleivis Basabe are on the roster but each of them have posted lackluster offensive numbers in their respective careers thus far. Prospect Carson Williams is probably the new shortstop of the future but he might still need some more time in the minors. He’s still not yet 22 years old, with that birthday coming up in June, and spent all of last year at Double-A. He did get into four Triple-A games late in 2023 but the Rays might want to send him there for a slightly longer stint before giving him his major league debut.

For the Rays, ideally, Kim can return relatively early in the year and play like his old self. Junior Caminero seems likely to take over the third base job this year, with Brandon Lowe and Yandy Díaz the projected regulars on the other side of the infield. That could give them a formidable infield for the majority of the season.

If that plan comes to fruition, Kim would likely opt-out and head back to free agency. He would be leaving $16MM on the table but would be looking for a larger guarantee on a multi-year deal. The Rays could then issue him a qualifying offer, which would probably be around $22MM or so. The QO was $21.05MM this offseason but usually goes up over time due to salaries increasing. The QO number is calculated by averaging out the salaries of the 125 highest-paid players in the league. That could allow the Rays to recoup draft pick compensation and then perhaps hand over the shortstop job to Williams.

There are other less-ideal outcomes on the other end of the spectrum. It’s possible Kim doesn’t return until the second half. Or he returns at some point but his arm strength isn’t quite what it was, making him an imperfect shortstop solution. Or perhaps Williams seizes the job before Kim gets back, leaving him as something of a high-priced utility guy. In those or other imperfect scenarios, the odds of him staying for 2026 would increase. That would naturally be an underwater deal at that point, since he would have walked away otherwise.

That wouldn’t necessarily be the end of the world, depending on the specifics. The Cubs got an okay-but-not-great season out of Cody Bellinger in 2024, then saw him forego an opt-out opportunity. They were still able to dump most of the remainder of the contract on the Yankees. The Brewers, however, are seemingly stuck with Hoskins after his mediocre season. That has perhaps been part of the reason why they don’t have a lot of financial wiggle room this winter.

The Rays are a low-spending club, far more like the Brewers than the Cubs or the Giants. Kim’s $13MM salary will actually make him the highest-paid player on the team. Though they’ve given out some big extensions over the years, this is the third-largest guarantee they’ve given to a free agent, behind the $40MM they gave Zach Eflin and the $30MM they gave Charlie Morton.

It’s unclear exactly what sort of payroll parameters they have for 2025. Cot’s Baseball Contracts had them at $99MM on Opening Day last year. They ended up moving some players making notable salaries at the deadline, such as Eflin, Randy Arozarena and Isaac Paredes. This offseason, they flipped Jeffrey Springs to the Athletics but then signed Danny Jansen and now Kim.

RosterResource now projects them for a $90MM payroll this year. That’s a bit below 2024 but they also might have extra financial concerns apart from player salaries. Due to the hurricane damage to Tropicana Field, they are going to be playing the 2025 season at George M. Steinbrenner Field in Tampa, Florida. That’s normally the home of the Tampa Tarpons, the Single-A affiliate of the Yankees. That is presumably leading to some unexpected moving costs and perhaps less ticket revenue for the upcoming season. Their plans for next year and beyond are murky as well.

It’s an interesting gambit for the club to take with its limited resources. For clubs still looking for middle infield help, Alex Bregman is a potential option due to his reported willingness to play second base. Apart from him, Jose Iglesias, Paul DeJong and Brendan Rodgers are some of the notable free agents.

Jeff Passan of ESPN first reported the two-year deal, $29MM guarantee and opt-out. Marc Topkin of the Tampa Bay Times first reported the specific annual breakdown and the incentives. Jon Heyman of The New York Post reported that the bonuses start at 325 plate appearances. The Associated Press reported the $10K per plate appearance specifics.

Mariners Re-Sign Jorge Polanco

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The Mariners are bringing back Jorge Polanco. They announced Monday that they’ve re-signed the veteran infielder to a one-year deal with a vesting/player option for the 2026 season. Polanco, an Octagon client, will reportedly be guaranteed $7.75MM. That comes in the form of a $7MM base salary in 2025 plus a $750K buyout on a mutual option. That mutual option can become a $6MM player option if Polanco reaches 450 plate appearances, and the option price would climb further, to $8MM, if he gets to 550 plate appearances. Polanco, who’ll move across the diamond and play third base for Seattle in 2025, can earn an additional $3.5MM worth of incentives. If he hits all of those incentives and picks up the player option, the contract would top out at $18.5MM over two seasons.

Polanco’s first season with the Mariners was a disappointment. Seattle acquired the switch-hitter from the Twins late last offseason. They expected him to provide a significant offensive boost in the infield. That didn’t pan out, as Polanco struggled through arguably the worst year of his career. He hit .213/.296/.355 with 16 home runs through 469 plate appearances. The batting average and on-base percentage were personal lows. The slugging percentage was only marginally above his career-worst .354 mark from the shortened 2020 season.

Before last season, Polanco had been one of the league’s more productive middle infielders. He combined for a .255/.333/.462 slash with a strong 10.1% walk rate in more than 1400 plate appearances over his final three seasons in Minnesota. Polanco had hit 33 homers back in 2021 and was an annual threat for 20 longballs and 30+ doubles. Polanco managed just 11 doubles during his first year in Seattle. He continued to draw walks at a solid 9.8% clip, but he struck out in more than 29% of his plate appearances.

Some of the offensive downturn is attributable to T-Mobile Park. Seattle plays in MLB’s most pitcher-friendly home stadium. Polanco had an especially difficult time at home. He hit .193/.284/.322 while striking out at a 31.9% clip in Seattle. His road production (.233/.308/.386 with a 26.7% strikeout rate) was better but still well below his previous standards.

Health may have been a bigger issue than the ballpark. Polanco underwent surgery to repair the patellar tendon in his left knee within weeks of the season’s conclusion. He had reportedly played through discomfort for a good portion of the season. Polanco is expected to be ready for the start of Spring Training. The Mariners are as familiar as any team with his health history. They evidently believe that last year’s struggles were something of an aberration.

While he’s entering his 10th full season, Polanco is only 31. His relative youth provides some optimism that last year was mostly a health-related anomaly. That said, the whiffs have been a multiyear concern. Polanco’s strikeout rate has climbed by multiple percentage points in five straight seasons. In 2020, he fanned in just 15.5% of his plate appearances. That jumped successively to a 25.7% clip in his final season with the Twins, which climbed nearly four points more with the Mariners.

Polanco’s previous contract included a $12MM team option that came with a $750K buyout. Seattle declined that relatively easily. Four months later, they bring him back at a slightly lesser salary. It’s probably not a coincidence that the performance bonuses theoretically allow him to max out next year’s guarantee at $11.25MM — the differential below the option price and the buyout.

They’re not quite running things back, as Polanco’s return comes with a position change. He has been a middle infielder throughout his career. Polanco played shortstop until moving to second base in 2021. He didn’t play anywhere other than second base last season. His major league third base experience consists of 20 starts and 180 innings. Polanco has never been a great defensive second baseman. His range could be less of an issue at third, though that’ll put some pressure on his arm. Polanco didn’t show great arm strength at second base, though that’s not a direct comparison to throwing across the diamond — which he did during his time as a shortstop.

Seattle feels more comfortable with their internal options at second base than they do at the hot corner. That bodes well for 25-year-old Ryan Bliss, who is likely to get first crack at the second base job. Bliss debuted late last season and hit .222/.290/.397 in 33 games. A former second-round pick by the Diamondbacks, he had a quality .269/.377/.456 showing over 433 plate appearances with Triple-A Tacoma last year.

The M’s will likely give Bliss the bulk of the playing time while working utilityman Dylan Moore through the position. Seattle’s lone additional MLB free agent signing, Donovan Solano, can also play some second base (though he’ll get more work as a platoon partner for Luke Raley at first). Seattle didn’t have anyone established at third base after non-tendering Josh Rojas.

Seattle wasn’t the only team interested in expanding Polanco’s versatility. He reportedly drew interest from the Astros as a possibility at either third base or in left field. Polanco has seemingly been Houston’s primary fallback if they don’t re-sign Alex Bregman. They no longer need a third baseman after landing Isaac Paredes in the Kyle Tucker deal, but they’re still hunting for a left fielder and would like to re-sign Bregman. That’d push Paredes to second and Jose Altuve to left field.

Seattle has reportedly had around $15-20MM in payroll space this winter. Solano and Polanco have accounted for just over $11MM, leaving a few million for a potential bench bat or middle relief pickup. RosterResource calculates their 2025 player payroll around $152MM.

Ken Rosenthal and Chandler Rome of The Athletic first reported that Polanco and the Mariners had an agreement. Rosenthal was first to report the $7.75MM guarantee and the move to third base. Ryan Divish of the Seattle Times reported that it was a one-year deal with a vesting/player option. Ari Alexander of KPRC 2 reported the $3.5MM in incentives. Jon Heyman of the New York Post provided the more detailed financial breakdown. Image courtesy of Imagn.

Tigers Still Pursuing Bregman After Flaherty Agreement

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The Tigers made their biggest strike of the offseason last night, agreeing to terms with right-hander Jack Flaherty on a two-year deal that allows him to opt back into free agency at season’s end. He’ll be paid $25MM in 2025 and has a $10MM player option for the 2026 season (that increases to $20MM if he makes 15 starts). Even with that fairly pricey pact in place, the Tigers aren’t closing the door on the other marquee free agent they’ve been chasing. ESPN’s Buster Olney reports that Detroit still in pursuit of third baseman Alex Bregman even after signing Flaherty. Evan Petzold of the Detroit Free Press hears the same, writing that the Tigers have “conducted their offseason moves around their interest in signing Bregman,” ultimately passing on several right-handed bats in whom they also had interest (Christian Walker, switch-hitter Anthony Santander, and Ha-Seong Kim).

With Flaherty on the books, the Tigers’ 2025 payroll projects out to about $142MM, per RosterResource’s estimates. They’re up to $156MM in luxury obligations. That leaves them more than $50MM shy of the franchise-record $200MM player payroll and $85MM shy of the $241MM tax threshold. There’s room to accommodate Bregman, be it on a higher-annual value short-term deal with opt-outs or on the type of long-term, six- or seven-year pact he’s been seeking throughout free agency. The only Tigers guaranteed any salary beyond the 2025 season are Flaherty and infielders Colt Keith and Javier Baez. It’s possible — if not likely — that Flaherty will turn down that player option and head back to the market. Baez owed $25MM in 2025 and $24MM in both 2026-27. Keith is owed just over $24MM total through the 2029 season.

Suffice it to say, there’s ample long-term payroll space available if the Tigers decide that a late agreement with Bregman is the optimal finishing piece to an active winter. Adding Bregman would likely mean optioning top prospect Jace Jung to Triple-A Toledo to begin the season, but he’d be a depth option at either third or second in the event of an injury to Bregman or fellow free agent signee Gleyber Torres. Matt Vierling would presumably spend the bulk of his time in right field, though he could spell Bregman at the hot corner when he needs a breather or perhaps gets a rest day at designated hitter.

Any deal between the Tigers and Bregman would surely be the largest pact ever issued under president of baseball operations Scott Harris. In two-plus years on the job — a portion of it still at least partially in rebuild mode — Harris hasn’t gone beyond a two-year guarantee for a free agent. Flaherty and Kenta Maeda are the only two free agents Detroit has signed for two years under Harris, and no free agent has received more than Flaherty’s $35MM guarantee. The Tigers went six years on their extension with Keith, but he’d yet to even make his MLB debut and received a $28.6425MM guarantee.

Bregman reportedly has multiple six-year offers — one from the Astros (valued at at least $156MM) and one from another interested party that is said to contain an opt-out after year one. The Blue Jays have been suggested as the other team, though it’s not expressly clear that they’ve done so (nor is the value of the other six-year offer known). Beyond the Astros, Tigers and Jays, both the Cubs and Red Sox have been involved in Bregman’s market. Bruce Levine of 670 The Score in Chicago reports that as of yesterday afternoon, the Cubs are still in active talks with Bregman’s camp as well. That’s not really a new development, of course, but it’s further indication that none of the five clubs reported to be in pursuit of Bregman has fully backed down as of yet.

Alex Bregman Reportedly Has Six-Year Offer From Club Other Than Astros

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February starts tomorrow but Alex Bregman is still unsigned. Throughout the winter, he has reportedly been sitting on a six-year, $156MM offer from the Astros. Jon Heyman of The New York Post reports that he also has a “lucrative” six-year offer, with an opt-out after the first year, from another club “that may not be not be high on his list.” Heyman mentions the Cubs, Tigers and Red Sox as clubs that have been in the mix. Bob Nightengale of USA Today recently appeared on Area 45 with Bijani and Creighton and suggested the Blue Jays might have a six-year offer out to Bregman.

The twists and turns of the Bregman saga have been well documented to this point. Going back to the Astros seemed like a strong possibility at the start of the winter and there has clearly been mutual interest in a reunion but a gap in talks when it comes to the financials, with Bregman reportedly looking to get something close to $200MM.

The $156MM offer is close-ish to that but Heyman and Nightengale both relay that Bregman viewed that as a paycut. That offer would come with an average annual value of $26MM. Bregman signed an extension with the Astros back in March of 2019, a five-year, $100MM pact. That was only a $20MM AAV but it was backloaded. Bregman got a $10MM signing bonus and then had a salary of $11MM in the first three years of that deal, followed by salaries of $28.5MM in the last two. Though the recent offer from Houston would have come with an AAV bump compared that entire contract, it appears the immediate downgrade in salary wasn’t satisfactory.

That led to Bregman getting interest from other clubs and the Astros pivoting to other players. They acquired Isaac Paredes in the Kyle Tucker deal and then signed Christian Walker. Those two, along with Jeremy Peña and Jose Altuve, seemed to fill the Houston infield and block Bregman’s path back to the club. More recently, reports have emerged that suggested the door is actually open a crack. The club apparently has some willingness to re-sign Bregman, move Paredes to second and Altuve to left field.

That’s a bit of an awkward fit, but the same could be said of Bregman’s other possible landing spots. The Red Sox have Rafael Devers at third and prospects like Kristian Campbell and Marcelo Mayer charging towards the second base opening. Moving Devers over to first base makes some sense on account of his poor defense, but he seems reluctant to make that move and Boston has Triston Casas at first and Masataka Yoshida a likely designated hitter. The Tigers would be blocking Jace Jung, a top prospect who has already cracked the majors, from regular playing time. The Cubs would similarly be blocking Matt Shaw. The Jays would be blocking a group of potential third baseman that includes Orelvis Martínez, Addison Barger and Ernie Clement.

Financially, the clubs are in different positions, per figures from RosterResource and Cot’s Baseball Contracts. The Tigers project to have an Opening Day payroll of $118MM. That’s well beyond last year’s $98MM figure but they were in the $120-140MM range in the two prior years. Signing Bregman would push them past that but could be justified after last year’s surprise playoff push. As of last week, their talks with Bregman were reportedly at a standstill.

The Cubs have a competitive balance tax number of $207MM and the Red Sox $210MM. This year’s base tax threshold is $241MM, meaning both clubs are more than $30MM away from that line. They have both paid the tax in recent years, so getting to the line or even crossing it can’t be explicitly ruled out, though both clubs reportedly prefer the idea of signing Bregman to a short-term deal.

The Jays, meanwhile, are well above the rest in this group. They project for a $250MM payroll and $273MM CBT number, both of which would be franchise records by significant margins. Last year’s $225MM Opening Day payroll was a new record at the time. They went narrowly over the CBT line in 2023 and were projected to do so again last year, before their disappointing season led to a trade deadline selloff that allowed them to limbo underneath. Though they are in uncharted waters, they reportedly still have wiggle room after agreeing to a deal with Max Scherzer.

The Cubs were the only one of the non-Houston clubs mentioned here to pay the tax in 2024, meaning they would be subject to the stiffest penalties for signing Bregman. Since he rejected a qualifying offer, any club apart from Houston that signs him would be subject to draft pick forfeiture. As a tax payor, the Cubs would forfeit their second- and fifth-highest picks as well as $1MM from next year’s international bonus pool space. The Jays and Red Sox, who didn’t pay the tax and aren’t revenue-sharing recipients, would only forfeit $500K of pool space and their second-highest pick. The Jays already surrendered a pick to sign Anthony Santander, so they would actually surrender their third-highest pick if they also signed Bregman. The Tigers, as a revenue-sharing recipient, would give up their third-best pick. Houston stands to receive compensation if Bregman signs elsewhere, though since they paid the tax last year, they would only receive a pick after the fourth round of the upcoming draft. Re-signing Bregman would take that potential compensation away.

Despite the inelegant roster fits, teams seem to be willing to make it work somehow. An unsigned player this close to the start of spring training would normally have to start considering short-term contracts. That happened last winter with the so-called “Boras Four” of Blake Snell, Jordan Montgomery, Matt Chapman and Cody Bellinger, who all signed in February of March, inking two- or three-year deals including opt-outs. Boras also represents Bregman and Pete Alonso, who are both unsigned now.

Alonso seems likely to be going down the short-term route, having recently discussed some three-year arrangements with the Mets. Reports on Bregman, however, have suggested that’s less likely. Last week, it was reported that Bregman has multiple offers of at least five years. The Astros seem to be one of them, as they have reportedly kept their offer out to Bregman even as they have pursued other moves.

Bregman, it seems, has been stuck in a sort of limbo zone. Based on the reports, he has a decent amount of interest but not quite enough to get up to his asking price, which has led to this holding pattern. MLBTR predicted him for a seven-year deal worth $182MM at the start of the offseason. As mentioned, he was looking to get a bit beyond that, into the $200MM range, but his offers have seemingly come in at a slightly lower level.

The Astros have reportedly had Jorge Polanco as their Bregman backup plan, but he has agreed to return to the Mariners on a new deal. Whether that leads the Astros to increase their offer to Bregman remains to be seen. They are known to be looking for a left-handed outfielder. Signing Polanco, a switch-hitter, would have been an indirect way of doing that. Altuve likely would have ended up in left field but it would have added a lefty bat to the lineup regardless. They could now consider a more direct option like signing Alex Verdugo or Jason Heyward. Bregman is right-handed but a more exciting player overall than either of those two, though the club has been connected to Verdugo this offseason and signed Heyward late last year after he was released by the Dodgers.

Whether or not the Astros pivot with Polanco off the board, it seems other clubs are lurking, perhaps in a similar price range. How this plays out could have ripple effects to other players. The Jays have also been lurking in the Alonso market but surely won’t sign both. Pitchers like Jack Flaherty and Nick Pivetta are also unsigned and have been connected to some of these clubs. Pitchers and catchers report to spring training in less than two weeks.

Royals Sign Carlos Estévez

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The Royals and right-hander Carlos Estévez are in agreement on a two-year deal that comes with a club option for 2027. It’s reportedly a $22MM guarantee for the Premier Talent Sports and Entertainment client, which includes a $2MM buyout on the option valued at $13MM. If the Royals exercise the option, the deal would reach $33MM over three seasons. The Royals designated Braden Shewmake for assignment in a corresponding move.

Estévez, 32, spent the first six seasons of his career with the Rockies. Pitching in Coors Field may have masked his talents, as he generally had good strikeout and walk rates but middling run prevention numbers. From 2019 to 2022, his final four seasons in Colorado, he tossed 214 2/3 innings with a 4.28 earned run average, 23.9% strikeout rate and 8.2% walk rate.

Getting away from the mountains has been good for his bottom-line numbers. He signed a two-year, $13.5MM deal with the Angels going into 2023, then was traded to the Phillies at the 2024 deadline. Over those two years, he threw 117 1/3 innings with a 3.22 ERA, 26% strikeout rate and 8.7% walk rate. He has become a bonafide closer in that time as well, racking up 31 saves in 2023 and 26 last year.

His 2024 season was his best yet, in a sense, as his 2.45 ERA was a personal low. However, there was some concern with how he finished. He struck out 25.8% of batters faced with the Angels but just 20.5% of opponents after being flipped to Philadelphia. But that was despite his velocity increasing as the season went along. He also got more ground balls after the deal, with a 25.3% rate as an Angel last year compared to a 43.5% rate with the Phils. In the end, he still managed to have a tidy 2.57 ERA with Philly, racking up six saves.

At the start of the offseason, MLBTR predicted Estévez for a three-year, $27MM deal. It seems the righty has been limited to a slightly lesser guarantee over two years, though he will end up beating that projection if the option is ultimately picked up.

The Royals had a strong rotation last year but their bullpen was less impressive. Their relievers had a collective 4.13 ERA last year, which placed them 20th out of the 30 clubs in the league. They tried to address that at the deadline by adding Lucas Erceg and Hunter Harvey in separate trades. Erceg posted a 2.88 ERA for the club after the deal and then had a 3.00 ERA over six postseason appearances as well. The Harvey acquisition didn’t pay immediate dividends, however, as a back injury limited him to just six appearances as a Royal. He is still under club control for 2025, so the Royals will hope for better health this year.

Though Erceg’s performance made the group look stronger, continuing to add this winter makes sense. That’s especially true with Kris Bubic likely moving to the rotation this year. Time will tell whether they have a preferred closer. As mentioned, Estévez has been closing for the past two years. Erceg recorded 11 saves for the Royals after being acquired, plus three more in the playoffs. Regardless of the roles, Estévez strengthens the relief group overall.

The Royals opened last year with a payroll of $115MM, per Cot’s Baseball Contracts. They are projected by RosterResource to be up to $123MM next year, before accounting for Estévez. They have reportedly been looking for a middle-of-the-order bat. Whether they can find one will likely depend on how much farther they are willing to push the spending.

Estévez received plenty of interest from other clubs this offseason, such as the Reds, Tigers, Cubs, Red Sox, Blue Jays and Yankees. Some of those clubs have since made other moves to address their respective bullpens. For clubs still looking to add relievers, the options have been flying off the board lately. Since the start of January, Chris Martin, Andrew Kittredge, Jeff Hoffman, Caleb Ferguson, Jorge López, A.J. Minter, José Leclerc, Tanner Scott, Paul Sewald, Kirby Yates, Ryne Stanek and Tommy Kahnle have agree to deals of $3MM or more. Ryan Pressly and Taylor Rogers were also traded this week.

Free agency still features players such as David Robertson, Kenley Jansen, Andrew Chafin and others, while guys like Robert Suarez, Ryan Helsley or Camilo Doval might be available on the trading block.

Jon Heyman of The New York Post first reported the Royals and Estévez had a deal. Ken Rosenthal of The Athletic was first with the two-year guarantee and the third-year club option. MLB.com’s Mark Feinsand reported the $22MM guarantee and the $13MM option value.

Blue Jays Sign Max Scherzer

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The Blue Jays officially announced their one-year deal with Max Scherzer. The Boras Corporation client reportedly receives a $15.5MM salary with no deferrals and a full no-trade clause.

Scherzer is obviously a legend in the game and a future Hall of Famer. He debuted back in 2008, has almost 3,000 innings in the majors with a 3.16 earned run average, three Cy Young trophies, eight All-Star selections and two World Series rings.

The question is what he has left in the tank at this point. He is now 40 years old and coming off an injury-marred season. He started 2024 on the injured list while recovering from offseason back surgery. Though he recovered from that, he also battled a nerve issue in his hand, shoulder fatigue and a strained hamstring throughout the season. He was limited to just nine starts and 43 1/3 innings.

That obviously creates some concern but Scherzer has been remarkably durable throughout his career. In each full season from 2009 to 2023, he made 27 or more starts and logged at least 145 1/3 innings. From 2013 to 2018, he had six straight seasons of hitting the 200-inning plateau. In short, 2024 was the first season of his career where he missed significant time.

Even though the volume of his output was low, some of the results last year were still decent. He posted a 3.95 earned run average over those nine starts. His 22.6% strikeout rate was a drop for him personally but still around league average, while his 5.6% walk rate was still a very strong mark. His velocity was down as well on his fastball, going from 93.7 miles per hour in 2023 to 92.5 mph last year.

There are obviously some yellow flags in there but it’s of course possible that better health could lead to some better results. It’s a bit of a gamble for the Jays but this is clearly the market rate for a veteran pitcher with some question marks. Each of Justin Verlander, Charlie Morton and Alex Cobb secured one-year deals worth $15MM this offseason. Scherzer symbolically got past that group with an extra half mil.

There are many ways in which Verlander and Scherzer are similar, given their lengthy careers full of accolades. The two have also crossed paths many times, as they were both in the Detroit rotation just over a decade ago, before reuniting with the Mets more recently. Verlander’s 2024 was also injury-marred, though with perhaps some more concerning numbers. His 17 starts and 90 1/3 innings were more than Scherzer managed but Verlander had a 5.48 ERA and his strikeout rate dropped all the way to 18.7%. Verlander is also a bit older, about to turn 42 next month.

Cobb is only 37 but he only managed three starts last year, plus two more in the playoffs, thanks to his own maladies. He also doesn’t quite have the same legendary track record as Scherzer or Verlander. Morton, who is now 41, managed to make 30 starts for Atlanta last year but he seemingly limited his market by having a preference for clubs with spring training sites near his family in Florida.

The Jays have been connected to just about every available free agent this winter. That has included some high-profile position players like Juan Soto, Alex Bregman and Pete Alonso, as well as starting pitchers like Roki Sasaki, Max Fried and Corbin Burnes. There were obviously some frustrating misses in there, but the club has had a couple of strikes more recently. In the past three weeks, they’ve added Anthony Santander to their lineup, Jeff Hoffman to their bullpen and now Scherzer to the rotation.

While the Jays may have preferred to get one of those other starting pitchers, Scherzer keeps their commitment short. It also gives the club a very veteran rotation core. Kevin Gausman is 34, Chris Bassitt will turn 36 next month and José Berríos will be 31 in May. Those four are sure to be taking the ball with regularity, as long as they’re all healthy.

If Scherzer avoids the injury bug this year, he’ll upgrade the rotation and could perhaps indirectly upgrade the bullpen as well. Prior to this signing, Bowden Francis and Yariel Rodríguez were projected as the top options for the fourth and final spots in the rotation. Even with Scherzer in the fold, Francis will likely still get a rotation spot. After the Jays traded Yusei Kikuchi at the deadline last year, Francis got a rotation audition and ran with it. He finished out the campaign with 59 innings over nine starts with a 1.53 ERA, 26.5% strikeout rate and 3.3% walk rate. He still has one minor league option but the Jays would surely like to see if he could carry that forward.

That could push Rodríguez into a relief role, something he has done with success before. Last year was his first in the majors and he made 21 starts with decent results. He had a 4.47 ERA, 23.1% strikeout rate and 10.9% walk rate. But prior to signing with the Jays, he was a dominant closer in Japan. In 2022, he made 56 appearances for the Chunichi Dragons with a 1.15 ERA, 27.5% strikeout rate and 8.3% walk rate. He sat out 2023 while attempting to be declared a free agent.

Going into last year, Shi Davidi of Sportsnet reported that Rodríguez’s contract stipulated he could only be optioned for the 2024 season. The Blue Jays did indeed option him a few times last year but it seems they won’t be able to do so from now on, so perhaps he’ll end up in the bullpen instead. He could compete for a leverage role alongside Hoffman, Yimi García, Chad Green and Erik Swanson.

That would subtract from the rotation depth a bit, but the Jays have a few more options there than they did last year. They added Jake Bloss, who already has a bit of Triple-A and MLB experience, in the aforementioned Kikuchi deal. Adam Macko is on the 40-man roster and should be in Triple-A this year after spending most of 2024 in Double-A. Alek Manoah had internal brace surgery in June and could make a late-season return. Since Scherzer is one a one-year deal and Bassitt is going into the final year of his pact, there are long-term openings for that group if any of them have a good showing in 2025.

RosterResource now sets the club’s payroll at $250MM and and their competitive balance tax number at $273MM. That puts them already well beyond last year’s Opening Day payroll, which Cot’s Baseball Contracts put at $225MM. Their CBT number was over the line in 2024 but they ducked under when their disappointing season lead to a deadline selloff, so they will go into 2025 as “first-time” payors. They are now within striking distance of the third CBT line, which will be $281MM next year. Going over that marker this year would mean their top pick in the 2026 draft would be pushed back 10 spots.

Despite running those numbers up to new heights, it doesn’t appear they are done. Per Bob Nightengale of USA Today, the Jays are still interested in Pete Alonso if he doesn’t circle back to the Mets while Keegan Matheson of MLB.com also suggests they should still have some flexibility. Maybe the Jays will add Alonso or someone else, or finally get an extension done with Vladimir Guerrero Jr. It’s been a long, frustrating winter for Jays fans but a lot has changed in the past few weeks, perhaps with more to come. Pitchers and catchers report to spring training in about two weeks.

Jon Heyman of The New York Post first reported that Scherzer was headed to the Jays. Bob Nightengale of USA Today first reported that it was a one-year deal. Heyman then reported the $15.5MM guarantee. Ben Nicholson-Smith of Sportsnet first had the lack of deferrals. Heyman had the no-trade clause.

Dodgers Designate Ryan Brasier For Assignment

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The Dodgers announced that they’ve designated Ryan Brasier for assignment. That’s the corresponding 40-man roster move for the signing of Kirby Yates to a $13MM free agent deal. Los Angeles still has five days to explore trade possibilities before they need to place Brasier on waivers. Waivers are a 48-hour process, so there’ll be official resolution on the DFA within a week.

It’s a moderate surprise to see Brasier cut loose. He’s a solid veteran reliever who signed a two-year free agent deal last winter. USA Today’s Bob Nightengale reported last week that the Dodgers were shopping the righty, though, suggesting he was the odd man out of Dave Roberts’ bullpen. While the DFA confirms that Brasier will not be back in Los Angeles, they have a few more days to try to line up a deal.

Brasier broke out with the Red Sox a few seasons ago. He fell on hard times later in his Boston tenure and was designated for assignment early in 2023. A minor league deal with the Dodgers paid huge dividends, as Brasier fired 38 2/3 innings of 0.70 ERA ball in the second half. He returned to Los Angeles on a two-year, $9MM pact.

The 37-year-old Brasier was never going to replicate his late-season ’23 numbers. He had another decent year when healthy, working to a 3.54 ERA with a league average 22.7% strikeout percentage. Brasier kept his walk rate to a tidy 4.5% clip, in large part because he got opponents to chase 40% of pitches off the plate.

Health was the biggest caveat. Brasier suffered a significant strain of his right calf in late April. He was shelved into the middle of August and limited to 28 innings on the season. He had an excellent second half but was nevertheless relegated to low-leverage appearances during the World Series run. Brasier allowed five runs with seven strikeouts and three walks across nine playoff innings.

The DFA is less a reflection of Brasier of “losing” his job and much more about L.A.’s bullpen depth. They added Tanner Scott and Yates after re-signing Blake Treinen. They join Michael Kopech, Evan Phillips and Alex Vesia as bullpen locks. The Dodgers are going to run a six-man rotation, meaning they can only devote seven roster spots to relievers.

They could go back to an eight-man bullpen once Shohei Ohtani returns to the rotation, since Ohtani doesn’t count against their 13-pitcher limit as a two-way player. They’re not going to push Ohtani’s elbow rehab merely to get another bullpen spot, so there’s probably only one available if all their relievers are healthy coming out of camp. Anthony Banda is out of options and seems likely to grab the final relief job.

Los Angeles owes Brasier $4.5MM for the coming season. They’ll surely try to find a taker for at least part of that salary in trade. They’d also save 110% in taxes for any salary they could offload. If they can’t line up a trade, they’ll put Brasier on waivers. Any claiming team would need to take his full salary, which is unlikely. He’d probably clear waivers and be available as a free agent for the league minimum, leaving the Dodgers on the hook for the rest of the money.

Robert Murray of FanSided first reported that the Dodgers had DFA Brasier.

Padres Re-Sign Elias Díaz

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The Padres officially announced that they’ve re-signed catcher Elias Díaz to a one-year deal with a mutual option for the 2026 season. The ACES client is reportedly guaranteed $3.5MM — taking the form of a $1.5MM base salary for the upcoming season and a $2MM buyout on the $7MM option. San Diego had multiple openings on the 40-man roster and didn’t need to make a corresponding move.

Díaz, 34, finished the 2024 season with the Padres. After being released by the Rockies, he landed a minors pact with the Friars and was added to the roster just before the calendar flipped from August to September. He joined Kyle Higashioka and Luis Campusano on the roster, though Campusano would be optioned a little more than a week later. Díaz hit .190/.292/.429 in 24 plate appearances. For the postseason, the Friars carried Higashioka and Díaz on the roster over Campusano, though Higashioka took the bulk of the work as Díaz received only one plate appearance.

Both Díaz and Higashioka became free agents at the end of the season, leaving the Friars with a clear hole behind the plate. Higashioka signed with the Rangers. Campusano, who is still on the roster, seemed to have a breakout season in 2023 when he hit .319/.356/.491, but his line had a steep drop last year, finishing at .227/.281/.361. Since his defensive metrics were also poor, he was considered to be below replacement level on the year.

That made the position a clear target area for the Friars this offseason. However, the club has been remarkably quiet this winter. Once completed, this will be their first free agent signing. Their only trade so far was acquiring right-hander Ron Marinaccio after he was designated for assignment by the White Sox.

That’s surely related to the club’s uncertain payroll situation. The Padres spent aggressively while Peter Seidler was owning the club but it turned out to not be sustainable. In September of 2023, it was reported that the club was “out of compliance with MLB regulations regarding their debt service ratio.” Seidler died in November of that year. The 2023-24 offseason saw the Padres look to cut their payroll, which led to Juan Soto getting traded to the Yankees.

This winter, it once seemed that the club would have to dial back projected spending some more, which led to plenty of rumors involving players like Dylan Cease, Luis Arráez, Michael King, Robert Suarez and others. Reporting in recent days has suggested the situation isn’t quite so dire, with the Friars not necessarily having to cut spending. However, with holes in left field, at catcher, in the rotation and perhaps at shortstop, trading one of those players might still be necessary in order to free up money and then add elsewhere.

Regardless of the specifics, it’s clear that the budget crunch has made president of baseball operations A.J. Preller far less active than in other offseasons. It has also limited the club in addressing their catching situation. They signed Martín Maldonado to a minor league deal and have now made a modest investment with this deal.

Díaz generally gets better marks for his glovework than for his bat. For his career, he has hit .251/.304/.388 for a wRC+ of 78, indicating he’s been 22% below the league average hitter. Catchers generally come in about 10% below the league-wide mean, though Díaz will still come in below that lower bar. Between the Rockies and Padres last year, he hit .265/.313/.382 for a wRC+ of 81.

Behind the plate, outlets like FanGraphs, Baseball Prospectus and Statcast have generally ranked him as a poor framer but close to average in terms of blocking and strong when it comes to controlling the running game.

Díaz and Campusano now project as the club’s catching duo. Campusano still has an option and could be pushed to Triple-A, though the only other backstop on the 40-man roster is Brett Sullivan, who is about to turn 31 years old and has a .206/.243/.299 line in just 103 big league appearances.

Ideally, Campusano would regain his 2023 form and run with the job. He has less than three years of service time and therefore has the potential to be a cheap solution for his four remaining years of club control. But if he can’t rebound from his rough 2024, the Padres now at least have a competent veteran on-hand. Maldonado also gives them some seasoned non-roster depth and it’s also possible the club makes further moves to address the catching situation.

RosterResource now projects the Friars for a competitive balance tax number of $245MM. That’s just a bit above this year’s $241MM base threshold, though as mentioned, it’s possible that they change their financial situation via trades of players making notable salaries.

Daniel Álvarez-Montes of El Extrabase first reported that Díaz had agreed to a one-year deal that guaranteed $3.5MM and included a mutual option. Álvarez-Montes also reported the specific salary breakdown and the option value.

Reds Sign Austin Hays

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The Reds announced the signing of outfielder Austin Hays to a one-year deal. The MAS+ client is reportedly guaranteed $5MM. That takes the form of a $4MM salary for the upcoming season and a $1MM buyout on a $12MM mutual option for 2026. Hays can earn an additional $1MM via incentives. Right-hander Casey Legumina was designated for assignment as the corresponding move.

Hays, 29, gives the Reds the right-handed-hitting complement they’ve been seeking for the lefty-swinging outfield group of TJ Friedl, Jake Fraley and Will Benson. He’s a career .277/.331/.469 hitter against left-handed pitching and has experience playing all three outfield spots — though he’s generally better suited for corner work than center field.

As recently as 2023, Hays was an All-Star in Baltimore. He had a down showing in the second half after a monster .314/.355/.498 first half of that season but still finished out the year with a hearty .275/.325/.444 batting line in 566 plate appearances.

The 2024 season, however, was an abject nightmare for Hays. He struggled immensely on the field, due to a pair of leg injuries (hamstring strain, calf strain) and, far more concerning, a kidney infection. As Rosenthal detailed earlier in the offseason, Hays described that kidney infection as “the hardest thing I’ve ever gone through.” Upon discovering it, doctors told him he’d likely been suffering from the ill effects of that infection for weeks prior.

Hays told Rosenthal that his symptoms included nausea, lightheadedness, lower back pain, sluggish legs and even a “brain fog” that would at times cause him to lose focus and forget what he was talking about mid-conversation. Hays initially chalked some of the exhaustion, leg fatigue and back pain up to the rigors of a full season and the prior hamstring/calf strains still impacting him. As time wore on and his symptoms increased, it became clear something else was at play.

A healthy Hays could well be a boon to the Cincinnati outfield, particularly if he’s in line to face a large slate of left-handed pitching. The move from Baltimore to Cincinnati should favor him considerably, too. Camden Yards has become a wasteland for right-handed power hitters in recent years, following the team’s decision to alter the dimensions in left field. Since 2022, when the O’s initially altered their park and installed a towering wall in left field (often referred to as “Mount Wall-timore”), their stadium has been the third-worst in MLB for right-handed home runs, per Statcast, leading only Cleveland’s Progressive Field and Pittsburgh’s PNC Park. Cincinnati’s Great American Ball Park, meanwhile, ranks as the third most-favorable park in MLB for right-handed home runs, by those same park factors.

Hays’ presence in Cincinnati could open up some more infield and/or DH at-bats for fellow righty Spencer Steer, who played primarily in the outfield last year. Steer is an infielder by trade, but his versatility was leveraged when the Reds’ infield became increasingly crowded.

The trade of Jonathan India and overwhelming struggles of Noelvi Marte last year have perhaps lent some extra clarity to the infield, however. There’s still some playing time to sort out this spring, but Steer could see time at the corners and DH alongside Jeimer Candelario, who also struggled in an injury-marred 2024 season, and Christian Encarnacion-Strand, who missed most of the year due to wrist surgery. Matt McLain (who missed most of the season due to shoulder surgery) and Elly De La Cruz are in line to serve as the primary second baseman and shortstop, respectively. Trade acquisition Gavin Lux could also see time at second base and in left field. Broadly speaking, the Reds’ lineup will feature quite a few moving parts for new skipper Terry Francona to juggle based on matchups, health and workload management.

Hays’ $5MM guarantee will push the Reds’ payroll just north of $110MM, marking an increase of about $10MM over their 2024 budget. Even an increase of that level looked questionable just weeks ago, but the team’s surprise agreement with Main Street Sports/FanDuel Sports Network (the rebranded Diamond Sports/Bally RSN provider) afforded president of baseball operations Nick Krall some additional resources to further build out the 2025 club. The Reds have also been tied to relief upgrades, Carlos Estevez most notably, but it’s not clear whether ownership’s budgetary preferences can accommodate both Hays and another bullpen arm — particularly one of Estevez’s caliber and likely asking price.

Ken Rosenthal of The Athletic first reported that Hays and the Reds had agreed to a one-year, $5MM deal with $1MM in incentives. Jon Heyman of The New York Post had the salary breakdown and the mutual option.

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