Though the Brewers have continually downplayed the possibility of actually trading him, ace right-hander Freddy Peralta continues to draw a wide array of interest. Ken Rosenthal and Will Sammon of The Athletic include the Dodgers and Braves among a list of teams to inquire with the Brewers, joining a group of previously reported clubs that includes the Yankees, Mets and Red Sox. All of those clubs are still believed to have interest in the righty.
Peralta’s appeal is obvious. He’s a durable 29-year-old righty with a 3.30 ERA over his past five seasons, including a career-low 2.70 earned run average this past season (albeit with rate stats and fielding-independent marks that suggest it’s more reasonable to expect a low-3.00s ERA than another sub-3.00 mark). Peralta averages nearly 95 mph on his heater, misses bats at a high level, has only slightly worse-than-average command and, crucially, is earning just $8MM next season. That’s his final year before free agency, but even as a one-year rental, a team surrendering young talent to acquire Peralta would know that he’ll likely net a 2027 draft pick, as he’s a virtual lock to receive and reject a qualifying offer.
For luxury-paying clubs, Peralta’s modest salary is particularly enticing. That’s all the truer for teams like the Yankees, Mets and Dodgers, who figure to be in the top penalty tier for at least a third consecutive season. Those clubs are effectively paying double for any subsequent additions to the payroll. The Dodgers are already in the top tax bracket and thus would pay a 110% tax on any new additions to the payroll. The two New York clubs are just shy of the top tax bracket, but even while sitting in the third penalty tier, they’d be subject to a 95% tax. And both are close enough to the fourth-tier threshold that Peralta would put them right up against it or push them over.
For the Braves and Red Sox, the penalties would be far less severe. Atlanta didn’t pay the tax at all last year and is currently in the first penalty tier. They’d receive only a 20% ($1.6MM) slap on the wrist for adding Peralta’s salary to the ledger. The Red Sox would be crossing the tax line for just the second straight season, as they were under the threshold in 2024. They’re currently about $3MM shy of the tax cutoff, per RosterResource. As a second-time offender they’d pay a 30% tax on the first $20MM by which they exceed the limit. For Peralta, that’d be only a hair over $1.5MM.
In terms of roster fit, it’s pretty easy to see how Peralta would fit onto any of the listed clubs. Atlanta currently has Chris Sale, Spencer Strider, Spencer Schwellenbach, Reynaldo Lopez and Hurston Waldrep lined up as its likely top five. Each of Sale, Strider, Schwellenbach and Lopez missed time with injuries in 2025. Lopez started only one game. Sale missed more than two months with fractures in his ribcage. Schwellenbach’s season ended in late June when he suffered a fracture in his right elbow. Strider posted a 4.45 ERA in his first season back from UCL surgery. Waldrep was impressive as a rookie but tossed only 56 1/3 innings in the majors.
The Dodgers certainly don’t “need” more starting pitching, but the old “no such thing as too much pitching” adage applies to veritably any club. Adding Peralta would be about further deepening the club’s October options. Yoshinobu Yamamoto, Blake Snell, Shohei Ohtani, Tyler Glasnow, Roki Sasaki, Emmet Sheehan and Justin Wrobleski give the Dodgers an embarrassment of riches, and high-upside younger arms like River Ryan, Gavin Stone and Kyle Hurt are all on the mend from 2024 surgeries. Top prospect Jackson Ferris isn’t far from MLB readiness. It’s a deep group, but the Dodgers probably don’t want to simply presume that all of their more established arms will be healthy for the postseason. Bringing in another top-tier arm to join the group would further bolster their choices as they pursue an elusive threepeat.
The Yankees have yet to make an addition to the big league roster, beyond re-signing Ryan Yarbrough on a cheap one-year deal and selecting righty Cade Winquest from the Cardinals in the Rule 5 Draft. With Carlos Rodon, Gerrit Cole and Clarke Schmidt all ticketed to open the season on the injured list, they could use some rotation help. The Mets, meanwhile, have subtracted more big names than they’ve added this winter. President of baseball ops David Stearns knows Peralta well from his Milwaukee days. The current Mets rotation is heavily reliant on rebounds from Kodai Senga and Sean Manaea as well as notable steps forward from prospects like Jonah Tong and Brandon Sproat. The Red Sox have added Sonny Gray and Johan Oviedo to what was already a pretty deep mix, but Peralta would be a clearer No. 2 option behind ace Garrett Crochet than Gray or right-hander Brayan Bello.
Other teams have surely shown interest in Peralta. Earlier in the offseason, it was reported that the Astros had looked into him, but they’ve since added Mike Burrows in a trade and Tatsuya Imai in free agency. The Orioles have shown interest as well, though Baltimore acquired Shane Baz and re-signed Zach Eflin, at least reducing some urgency. (Peralta would still be a notable and needed upgrade to the top end of the staff.) The Athletic’s report notes that some lower-payroll clubs are also looking into Peralta, given that his $8MM price point is affordable for any team.
Broadly speaking, it stands to reason that any 2026 postseason hopeful in the sport has probably at least gauged the asking price on Peralta. Rosenthal and Sammon suggest that a major league-ready starting pitcher is very likely to be a starting point in any talks regarding Peralta. Milwaukee won an MLB-best 97 games in 2025 and is seen as a favorite in the NL Central as a result. The Brewers know they could also get a compensatory pick in the 2027 draft if and when Peralta departs via free agency. They’re a revenue sharing recipient who doesn’t pay the luxury tax, so that pick would come at the end of the first round. That establishes a pretty reasonable base line that needs to be exceeded in any trade talks, and targeting MLB-ready help for a win-now club is only natural.
A Peralta trade shouldn’t be seen as likely. Milwaukee brass has publicly downplayed the possibility, but the Brewers will never fully close themselves off to trades of any notable stars as they approach free agency. Milwaukee traded Corbin Burnes, Devin Williams and Josh Hader near the end of their original windows of club control, after all. However, the Brewers also held onto Willy Adames for the 2024 season, knowing he’d likely reject a qualifying offer and depart via free agency, which is precisely how things played out. Keeping Peralta would give Milwaukee a deep and talented rotation, as he’d be joined by Brandon Woodruff, Jacob Misiorowski, Quinn Priester and Chad Patrick, with depth options including Logan Henderson, Tobias Myers and former top prospect Robert Gasser, who’ll be returning from Tommy John surgery.
