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13 Players Receive Qualifying Offers

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Today is the deadline for teams to decide whether or not to issue qualifying offers to eligible players. Per Jeff Passan of ESPN on X, 13 players have received the QO and they are:

As a recap, the qualifying offer system was created in the name of competitive balance, allowing clubs to receive compensation if key players depart via free agency. The value changes from year to year as it is the average of the salaries of the 125 highest-paid players in the league. This year’s QO is valued at $21.05MM.

If the player rejects the QO and signs elsewhere, his previous team receives draft compensation while his new club is subject to draft pick forfeiture and sometimes international bonus penalties as well. MLBTR has previously covered what each team’s compensation and penalties would be.

Players have until 3pm Central on November 19 to decide whether to accept or not. In that time, they are free to negotiate with other clubs just like all other free agents, assessing their options before making a decision.

Most of the players on this list are not surprising. Many of them have enough earning power where it was obvious that they would receive a QO and they have an easy decision to reject it while going on to pursue larger guarantees on multi-year deals. Some of the decisions were a bit more borderline and MLBTR took closer looks at those in separate posts, including Martinez, Pivetta and Severino/Manaea.

There were also some notable players who were candidates to receive a QO but ultimately didn’t. MLBTR recently took a look at the pitchers and position players with a chance at receiving a QO. Michael Wacha was listed as a possibility but that came off the table when he and the Royals agreed to a new deal yesterday. Shane Bieber of the Guardians, Jeff Hoffman of the Phillies, Paul Goldschmidt of the Cardinals, Tyler O’Neill of the Red Sox, Gleyber Torres of the Yankees, as well as Ha-Seong Kim and Jurickson Profar of the Padres were all identified as long shots to receive a QO and ultimately none of them did.

Clubs generally don’t want to lose draft picks or be subject to the other associated penalties. As such, receiving a QO can sometimes have a negative impact on a player’s prospects in free agency, though it won’t be a significant factor for the top guys.

Red Sox Issue Qualifying Offer To Nick Pivetta

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The Red Sox issued a qualifying offer to Nick Pivetta, reports Robert Murray of FanSided (X link). MassLive’s Chris Cotillo, who first suggested a Pivetta QO was possible, added that Tyler O’Neill will not receive the QO. Pivetta and his representatives at CAA have until November 19 to decide whether to accept.

Boston’s decision comes as at least a moderate surprise. Pivetta has been a consistent source of innings but has never quite managed high-end results. He doesn’t have a single season with an earned run average under 4.00. Pivetta consistently posts fantastic strikeout and walk numbers, but a propensity for hard contact and the home run ball deals a hit to his overall results.

The Sox have yet to quite unlock Pivetta’s full upside. They’re willing to make a significant one-year commitment to take another shot. If Pivetta accepts the offer, he’d rejoin a rotation that’ll also include Brayan Bello, Tanner Houck and potentially Kutter Crawford and Richard Fitts. The Sox should welcome Lucas Giolito back from injury in the season’s first half. There’s a decent amount of depth, particularly if Pivetta returns, though the group is still lacking a true #1 arm.

Boston neither paid the luxury tax nor received revenue sharing this past season. That puts them in the middle tier of QO compensation. If Pivetta walks, the Sox would receive a pick between the end of Competitive Balance Round B and the third round in the 2025 draft.

José Urquidy Clears Waivers And Becomes Free Agent

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The Astros have sent right-hander José Urquidy through outright waivers and he is now a free agent, per Chandler Rome of The Athletic on X. The same is true of fellow righty Oliver Ortega, who was also outrighted and became a free agent.

Urquidy, 30 in May, has tossed 405 innings for the Astros in his career with a 3.98 earned run average, 19.6% strikeout rate and 5.8% walk rate. Unfortunately, he underwent Tommy John surgery in June and is therefore slated to miss most or all of the 2025 campaign.

That was going to be his final season of club control, with the Astros eligible to retain him via arbitration. MLBTR contributor Matt Swartz projected Urquidy for a $3.75MM salary next year but the Astros seemingly decided it wasn’t worth making that kind of investment for a player with such an uncertain timeline and bumped him off the roster instead. All of the other clubs seemingly agreed with none of them putting in a claim. As a player with at least three years of service time, Urquidy has the right to elect free agency instead of accepting an outright assignment.

Urquidy will now head to the open market and perhaps head to a new club for the first time. Pitchers recovering from Tommy John surgeries can sometimes find two-year deals that cover the rehab portion and also give the signing club an extra year of club control wherein the pitcher is hopefully fully healthy.

Ortega, 28, was claimed off waivers from the Twins a year ago but never got to pitch for the Astros. He underwent surgery in March to remove loose bodies from his elbow and then underwent another surgery in June to remove a bone spur. Due to those surgeries, he spent the entire season on the injured list. His current status is unclear but the Astros didn’t want to keep him on the roster going forward. As a player with a previous career outright, he had the right to elect free agency and did so.

Gerrit Cole To Return To Yankees

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Right-hander Gerrit Cole will return to the Yankees, per Jon Heyman of The New York Post on X. Going into 2020, Cole and the Yankees signed a nine-year deal with a $36MM salary in each season, a $324MM guarantee. That deal gave Cole the ability to opt out after 2024, but the Yankees could negate that opt-out by adding yet another $36MM season for 2029. He did indeed trigger that opt-out a few days ago, forcing the Yankees to decide whether or not they wanted to add the extra year. Essentially, they would be deciding between letting Cole become a free agent versus keeping him around for five years and $180MM. Per Jeff Passan of ESPN on X, Cole will remain with the four guaranteed years and $144MM as though he did not trigger his opt-out, but extension conversations will continue.

For the first four years of the deal, Cole continued to perform at an ace level and it seemed like a slam dunk that he would trigger that opt-out but the Yanks would add the final year and keep him around. That was the general consensus one year ago when Cole won the 2023 American League Cy Young award after posting a 2.63 ERA in 209 innings over 33 starts.

But one year later, much has changed, which made the respective decisions more interesting. Cole was shut down during spring training this year with some elbow inflammation. No structural damage was found but his non-surgical rehab kept him on the shelf until June. He returned and posted strong results, but not quite as good as before the injury.

He eventually made 17 starts on the year with a 3.41 ERA. There might have been a bit of rust after the injury layoff, as he had a 6.75 ERA in his first four outings but a 2.67 in the final 13. He then posted a 2.17 ERA over his five postseason starts.

That injury-shortened season made is somewhat debatable as to whether Cole should walk away from the four years and $144MM left on his deal but he ultimately felt confident in doing so, forcing the Yankees into making a call.

Cole has been their ace but there were at least some arguments for them letting him go. Generally speaking, a free agent deal provides the best return on investment at the beginning, while the later years tend to be more painful. Getting a chance to walk away before it starts to hurt is going to have some appeal to a team, especially one that wants powder dry to bring back Juan Soto.

Beyond that, Cole’s strikeout rate declined this year, perhaps due to the injury but it was the fourth straight year of that trend. He punched out 33.5% of batters faced in 2021, 32.4% in 2022, just 27% in his Cy Young year and 25.4% this year. Each of his pitches in 2024 was about one mile per hour below their ’23 levels, per Statcast. Though his playoff results were good as the Yanks charged to the World Series, he actually only struck out 17.7% of batters faced.

Without Cole, the Yankees would have been going into the winter with a rotation of Carlos Rodon, Nestor Cortes, Clarke Schmidt, Luis Gil and Marcus Stroman, with Will Warren and other prospects around as depth. They could have used the extra $36MM of payroll capacity to pursue Soto while also considering reuniting with Cole or perhaps going after younger free agent starters like Corbin Burnes, Blake Snell, Jack Flaherty or Max Fried.

It seems as though the two sides may have discussed some alternate arrangements but wanted more time to hammer them out, so Cole has essentially agreed to rescind his opt-out decision. He will stay on the Yankee roster at the same terms of his previous deal, perhaps allowing him and the Yankees to work out some new deal without the ticking clock of today’s deadline for decisions on options and opt-outs.

At this point, it’s unclear if the two sides expect to work out a new deal shortly or well into the offseason. If the latter is the case, then the club will pivot towards it’s other offseason priorities, headlined by the desire to get Soto back into the fold.

The main takeaway here is that Cole will be staying in pinstripes, with the contractual stuff to be worked out another day. With him back in the rotation, now perhaps the Yankees will consider further moves to augment their rotation. They reportedly had interest in Snell last winter and could circle back to him this offseason. They almost traded for Flaherty at the deadline and might pursue him as a free agent. There were some trade rumors surrounding Cortes this year, so perhaps those could pop up again in the coming months. Stroman got bumped to the bullpen late in the year and might make more sense on the trading block, allowing the Yankees to free up some payroll for other pursuits.

Mets To Issue Qualifying Offers To Severino, Manaea

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The Mets are issuing the $21.05MM qualifying offer to both Luis Severino and Sean Manaea, reports Jon Heyman of The New York Post (X links). There’s no surprise in Manaea’s case, though Severino was more of a borderline call. The pitchers will have until November 19 to determine whether to lock in that salary. That’ll give their representatives just over two weeks to gauge the market.

Manaea is coming off one of the better platform years of anyone in the rotation class. He turned in a 3.47 earned run average while striking out a quarter of opponents through a career-high 181 2/3 innings. The southpaw had an excellent second half that coincided with a dip in his arm angle and an increased use of his sinker. He’ll probably be limited to three-year offers as he enters his age-33 season, though those could come at a comparable annual value to the QO price. He shouldn’t give much consideration to accepting.

Severino could have a more interesting decision. The hard-throwing righty worked to a 3.91 ERA across 182 frames spanning 31 starts. It was a nice rebound from his terrible final season with the Yankees. Severino improved his ground-ball rate to 46% but didn’t find the kind of bat-missing ability that made him a high-end starter during his early days in the Bronx. He fanned 21.2% of batters faced while getting swinging strikes at a well below-average 9.4% clip.

The lack of whiffs could lead to trepidation from some teams. Severino has plus velocity and good control, though, and he proved capable of shouldering a full workload for the first time since 2018. With Manaea virtually certain to decline the QO, the Mets were willing to risk bringing Severino back on a decent one-year salary. They’re likely to find themselves in the top tier of luxury tax penalization next season. That’d entail paying a 110% tax, potentially putting them on the hook for more than $44MM.

If Severino declines the offer in search of a three- or four-year deal, the Mets would be in line for modest draft compensation. As luxury tax payors, New York receives the lowest form of compensation for losing qualified free agents. They’d get compensatory picks after the fourth round if Manaea and/or Severino sign elsewhere. The prospect value of those picks is minimal, but it’d tack on a few hundred thousand dollars to next year’s amateur signing bonus pool.

Image courtesy of Imagn.

Reds Issue Qualifying Offer To Nick Martinez

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The Reds have issued a qualifying offer to Nick Martinez, reports Gordon Wittenmyer of the Cincinnati Enquirer. The QO is valued at $21.05MM. The right-hander declined a $12MM player option over the weekend to hit free agency for a fourth straight winter.

Wittenmyer reports that the Reds and Martinez have discussed a multi-year extension but haven’t gained much traction. Rather than risk losing him for nothing, Cincinnati made the surprising call to issue the QO. Martinez and his representatives at the Boras Corporation have until November 19 to explore the market before deciding whether to lock in what would easily be the highest salary of his career.

Martinez had an excellent first season in Cincinnati. The Reds signed him to a two-year, $26MM free agent deal. Martinez had pitched well over two seasons in a swing role with the Padres. He pitched in the same capacity for the Reds, starting 16 of 42 appearances. He logged a career-best 142 1/3 innings with a 3.10 earned run average. He has allowed fewer than 3.50 earned runs per nine in all three seasons since returning from Japan during the 2021-22 offseason. Martinez showed pristine control (3.2% walk percentage) and did a fantastic job avoiding hard contact. That mitigated concerns about how he’d adjust to hitter-friendly Great American Ball Park.

Strong as that production was, the QO is a gamble for a team that doesn’t run huge payrolls. Martinez is headed into his age-34 season and would likely be limited to a three-year deal even if he weren’t attached to draft compensation. There looks to be a good chance he accepts the offer. The Reds spent around $90MM on player payroll this past season. If they end up a similar range in 2025, Martinez’s salary would account for upwards of a fifth of their spending.

That’s a lot to commit to a swingman, though it’d be more reasonable if the Reds wanted to give Martinez a full-time rotation job. He has been better out of the bullpen, as one would expect, though he was quite good in either role. Martinez posted a 3.84 ERA with a 19.1% strikeout rate out of the rotation. He turned in a sparkling 1.86 mark while fanning 22.5% of opponents across 53 1/3 relief innings.

The QO qualifies as a major league free agent contract. Article XX(b) free agents like Martinez gain full no-trade rights until June 15 of the following season, so the Reds couldn’t deal him this offseason without his consent if he accepts the offer. Cincinnati wouldn’t have made the offer if they weren’t prepared to welcome him back at that price.

If Martinez finds a robust market and is still able to land a notable multi-year contract, the Reds position themselves to land draft compensation. In the unexpected event that Martinez lands a $50MM+ deal elsewhere, Cincinnati would get a pick after the end of the first round in 2025. The likelier outcome is that a contract would be for less than $50MM, entitling the Reds to a pick between the end of Competitive Balance Round B and the start of the third round. Another team would forfeit draft pick(s) and potentially international signing bonus space to add Martinez. The penalties vary depending on the signing team’s revenue sharing status.

Image courtesy of Imagn.

2024-25 MLB Free Agent Tracker

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The best 2024-25 MLB Free Agent Tracker on the internet is available as part of our MLB Contract Tracker.  In the Contract Tracker, simply filter the contract status to “unsigned,” and then you can further filter by position.

Our MLB Contract Tracker already documents all free agent signings and extensions going back to 2008.  Learn more about it here.  We’re happy to answer any questions about how to use this tool, which is available exclusively to Trade Rumors Front Office subscribers.

We also have our class 2024-25 MLB Free Agent list, where players will be removed as they sign.  Click here for that.  The 2025-26 list will be published later this week, for those who’d like to look ahead a year.

Orioles Exercise Club Option On Seranthony Domínguez, Decline Danny Coulombe

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The Orioles announced that they have exercise a club option on right-hander Seranthony Domínguez while declining their option on left-hander Danny Coulombe. They also announced that they have exercised options on left-hander Cionel Pérez and first baseman Ryan O’Hearn, as was reported earlier today. Domínguez will get $8MM next year instead of a $500K buyout. Coulombe could have been brought back for a $4MM salary but instead becomes a free agent with no buyout.

Domínguez, 30 this month, was acquired from the Phillies at the trade deadline. He went on to make 25 appearances for the O’s with a 3.97 earned run average. He struck out 28.6% of batters faced while giving out walks at a 9.2% clip.

The righty now has a 3.59 ERA, 27.3% strikeout rate, 9.6% walk rate and 45.9% ground ball rate over his 255 career appearances. Some of that has come in leverage situations, as he has racked up 38 saves and 58 holds in his career. Given that generally solid track record, it’s not really a surprise to see the Orioles plunk down another $7.5MM to keep him from getting away.

The decision on Coulombe is a bit more surprising as the lefty has had a solid two-year run with the O’s. He has tossed 81 innings for Baltimore since the start of 2023 with a 2.56 ERA, 28.4% strikeout rate, 5.4% walk rate and 45.4% ground ball rate.

$4MM for a solid lefty reliever like that seems like good value for money but Coulombe also had some challenges this year. He underwent surgery in June to remove bone chips removed from his throwing elbow. He was able to come off the IL in September, making four appearances for the club down the stretch and one in the postseason, but that seemingly wasn’t enough to convince the O’s to keep him around for next year.

They could circle back to him in free agency but Coulombe will have a chance to speak to all of the other clubs as well. The fact that he’s now 35 and coming off an injury-marred season will hurt his earning power but his results over the past two years will work in his favor.

Braves Decline Club Option On Travis d’Arnaud

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The Braves announced that they have declined their club options on catcher Travis d’Arnaud and right-hander Luke Jackson while picking up their option on designated hitter Marcell Ozuna. Jeff Passan of ESPN relayed the d’Arnaud news on X prior to the official announcement. The d’Arnaud option was for $8MM and came with no buyout and he will now enter the open market. Jackson will head to free agency as well, collecting a $2MM buyout instead of a $7MM salary next year. Ozuna’s option had a $1MM buyout but the club will bring him back with a $16MM salary instead.

The news on d’Arnaud is the most surprising development. Just one month ago, president of baseball operations Alex Anthopoulos said in his end-of-season press conference that the club was planning to pick up options on each of d’Arnaud, Ozuna and left-hander Aaron Bummer. They did indeed pick up Ozuna’s option while Bummer agreed to a reworked deal yesterday that saw the club essentially trigger Bummer’s two club options for 2025 and 2026, though with Bummer sacrificing a small amount of total earnings in exchange for more money to be locked in upfront.

The new deal for Bummer and also one for Reynaldo López saw Atlanta kick some money from their 2025 payroll ahead to 2026, indicating that payroll flexibility in the coming season is an ongoing issue for them. That’s likely a factor for the d’Arnaud call also, as the club can keep some powder dry for their offseason pursuits and perhaps circle back to d’Arnaud later in the winter.

Per RosterResource, Atlanta is projected for a payroll of $215MM next year, just $20MM shy of this year’s figure. They have plenty to do this winter, as they are set to lose Max Fried and Charlie Morton to free agency, opening up two rotation holes. It’s also possible that they could pursue upgrades over Orlando Arcia at shortstop, tweaks to the bullpen or other moves. Triggering d’Arnaud’s option would have locked in another $8MM today but it seems the club would rather hold onto that bit of spending capacity at least for now.

Atlanta clearly likes d’Arnaud, as they have a relationship that goes back a ways. He just finished his fifth season with the club, having signed multiple deals to stay in town. They signed him to a two-year, $16MM deal going into 2020. Late in 2021, as that deal was winding down, the two sides agreed to extend the relationship by another two years and with another $16MM. Midway through 2023, they agreed to another extension, locking in an $8MM salary for 2024 and the club option which has been turned down today.

During that time, d’Arnaud has hit .251/.312/.443 for a 106 wRC+. His framing and blocking have generally been well regarded and FanGraphs has considered him to have been worth 9.3 wins above replacement over his 384 games with Atlanta.

The club has clearly viewed him as worth $8MM per year in the past but isn’t locking him in at that price point now, despite Anthopoulos suggesting a month ago they likely would. He’ll now head to free agency and be one of the better backstops available. Guys like Danny Jansen, Kyle Higashioka and Carson Kelly are the best catchers in free agency this winter but d’Arnaud shouldn’t be too far behind that group.

With the shenanigans to move the López and Bummer money around and now d’Arnaud’s option being declined, perhaps the money is a bit tight for Atlanta at the moment. Given the way Anthopoulos operates, it wouldn’t be a surprise to see them get creative on the trade market and move some contracts around, but the pursestrings might be a bit clenched for now.

As for Jackson, he’s had some good seasons in the past but has been up-and-down lately. Tommy John surgery wiped out his 2022 season, just as he was headed into free agency. He signed a two-year, $11.5MM deal with the Giants going into 2023, with the aforementioned option for 2025. He was able to make 33 appearances last year with a 2.97 earned run average but his 2024 was more challenging. He missed time due to a lower back strain and eventually posted a 5.09 ERA on the year, getting traded back to Atlanta midseason. His 25.1% strikeout rate and 50.7% ground ball rate were solid but his 11.1% walk rate was on the high side.

Jackson has had some success in the past and got a solid deal even after missing a full season due to surgery. Spending $5MM on such a pitcher wouldn’t have been outrageous but it’s also not shocking to see the club move on when considering his poor 2024 campaign and their apparent budgetary concerns.

Orioles Exercise Club Options On Ryan O’Hearn, Cionel Perez

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The Orioles have picked up their $2.2MM club option on the services of left-hander Cionel Perez for the 2025 season, according to Francys Romero. Baltimore would’ve still had Perez under team control for 2025 via arbitration even if the option had been declined. They’ve also picked up their $8MM option on the services of first baseman Ryan O’Hearn, as first reported by Jon Heyman of the New York Post. Both will return to the club in 2025.

Whether or not the Orioles would pick up Perez’s option appeared to be a close call given that MLBTR contributor Matt Swartz projected a $2.1MM salary for the left-hander in his penultimate trip through arbitration. That comes in slightly lower than the figure Perez will now earn in 2025. It’s possible Baltimore’s own internal view of Perez’s likely arbitration salary came in a touch higher than MLBTR’s, although the Orioles’ decision may be as simple as not wanting to decline the option and risk an arbitration hearing with the southpaw over just $100K.

That there was any sort of decision to be made regarding the option would’ve registered as something of a surprise headed into the 2024 season. Entering this year, Perez had been among the club’s very best relievers over his two years in Baltimore. From 2022 to ’23, Perez dominated to the tune of a 2.43 ERA in 111 innings of work. That fantastic ERA was somewhat belied by higher 3.30 FIP thanks to Perez’s lackluster strikeout (20.6%) and walk (10%) rates over the past two years, but the lefty made up for that by generating grounders at an excellent 56.2% rate.

Unfortunately, Perez took a major step backwards in 2024 when it came to run prevention as his ERA ballooned to 4.53. With that being said, his peripherals remained remarkably similar to his previous successful seasons with the Orioles. His 11.8% walk rate was elevated and his 19.3% strikeout rate was just a tick lower than those previous figures, but the lefty maintained a strong 55.8% groundball rate and wound up with a 3.30 FIP that was identical to his average over the prior two seasons. Of course, it’s worth noting that Perez’s FIP is somewhat deflated by the fact that Perez managed to give up zero home runs during the 2024 campaign. While the lefty has typically been excellent at limiting hard contact throughout his career, it’s worth noting that his homerless season came in spite of a nearly doubled barrel rate relative to 2023.

Overall, Perez seems likely to remain with the Orioles as a solid lefty relief option, though perhaps not one they’ll be interested in offering high leverage duties to until and unless he can bring his strikeout and walk ratios closer to the 23.5% and 9% figures he flashed during his dominant 2022 campaign. The Orioles notably declined their club option on fellow lefty Danny Coulombe today, making Perez all the more valuable as he joins Keegan Akin and Gregory Soto as lefty options in 2025.

Turning to O’Hearn, the decision to pick his option up doesn’t register as much of a surprise given his excellent performance since first donning an Orioles uniform. The 31-year-old just wrapped up his second season with Baltimore and carries an overall slash line of .275/.329/.450 (119 wRC+), though even that slash line may be selling his growth with the club short as he massively improved his plate discipline in 2024. After striking out at a 22.3% clip and walking just 4.1% of the time in 2023, this year O’Hearn took free passes at an excellent 9.3% clip while striking out just 14% of the time. A small step back in the power department meant his wRC+ was largely unchanged from the year prior, but underlying metrics such as xwOBA viewed O’Hearn’s work in 2024 as a substantial improvement over his first season with the club.

As impressive as O’Hearn’s evolution in Baltimore has been, there do remain questions about his fit on the club’s roster entering next year. While Anthony Santander’s likely departure in free agency will open up some playing time in the corner/DH mix, the Orioles have already at times struggled to juggle playing time for O’Hearn and fellow first baseman Ryan Mountcastle when both are healthy in previous seasons. Looking ahead to 2025, they’ll be searching for ways to include Coby Mayo and Heston Kjerstad in the lineup more regularly, and either player could take up the lion’s share of playing time at DH with Mayo in particular even standing as a possible inclusion in the club’s first base mix as well. A trade of Mountcastle, one of the prospects, or even O’Hearn himself could help to clear up the clubs log jam at the position, and it would hardly be a surprise if the club decided to do so in order to upgrade a rotation facing plenty of questions headed into 2025 following the departure of Corbin Burnes and elbow surgery that will sideline Kyle Bradish for the start of next season.

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