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Dodgers Re-Sign Teoscar Hernandez

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The Dodgers have brought Teoscar Hernández back on a three-year deal. The Republik Sports client is reportedly guaranteed $66MM, including a $23MM signing bonus. There is $23.5MM in deferred money, while the deal includes a $15MM team option (or a $6.5MM buyout) for the 2028 season. He’ll receive a $10MM salary next season, $7.5MM of which is deferred. Another $8MM of his respective $12MM and $14.5MM salaries for 2026 and ’27 are also deferred. The deferrals reportedly reduce the contract’s net present value to roughly $58.1MM.

Hernández, 32, gets the three-year deal he’d been seeking. The slugger had called returning to the Dodgers a priority after a huge first season with the team. Hernández slashed .272/.339/.501 with 33 homers across 652 plate appearances. He carried that strong production into the postseason, hitting three longballs with a .250/.352/.417 slash over 16 games to help the Dodgers secure their second championship in five years.

This was the ideal outcome for a player on a pillow contract. Hernández had reached free agency last winter on the heels of a middling season in Seattle. He had turned in a .258/.305/.435 slash over 678 plate appearances as a Mariner. As a result, Hernández didn’t find the lucrative long-term offer he’d been seeking. While the Red Sox offered him a two-year deal that would’ve come with a $28MM guarantee, he signed for one season on a deferred $23.5MM salary with the goal of reestablishing his market value.

It couldn’t have worked out much better for either side. Hernández had one of the best seasons of his career. He earned his second All-Star nod and Silver Slugger award while picking up down ballot MVP votes for the third time. Hernández established a new career high in home runs with rate stats that were in line with his best years in Toronto. He was an instrumental part of a championship roster.

The down year in 2023 looks like an anomaly. He’s hardly the only veteran hitter to struggle in Seattle’s extremely pitcher-friendly home park. Hernández has been an impact hitter in each of the other four seasons since his breakout in 2020. Over the past five years, he owns a .274/.328/.493 batting line in nearly 2700 trips to the plate. There’ll be a decent number of strikeouts, but few players hit the ball as hard as he does. Hernández is an annual threat for 30+ doubles and at least 25-30 homers.

Hernández was the only key offensive player whom the Dodgers feared losing in free agency. He’ll return to join Shohei Ohtani, Mookie Betts, Freddie Freeman, Will Smith, Max Muncy, Tommy Edman and Gavin Lux in a loaded offense. The Dodgers added Michael Conforto on a one-year, $17MM contract at the Winter Meetings. No other team rivals the potency of the L.A. lineup.

The Dodgers are taking on some risk from a defensive perspective. Despite plus arm strength and surprisingly strong athleticism, Hernández has never graded as a good defender. That continued this season. Defensive Runs Saved felt he was three runs below par in his 1308 combined innings between the corner outfield spots. Statcast rated him much more harshly, estimating he was 11 runs below average.

Hernández isn’t likely to improve on a contract that runs through age 34. An ideal landing spot would’ve allowed him to move to designated hitter in year two or three. That’s not an option on a team with Ohtani. The Dodgers are moving Betts to shortstop and will have Hernández and Conforto flanking Edman in the outfield. They’ll accept a mediocre defensive unit for the chance to stack with the lineup with good hitters.

Adding Conforto and re-signing Hernández blocks the path to everyday at-bats for youngsters Andy Pages and James Outman. The latter feels like a change of scenery candidate after a disappointing second MLB season. The Dodgers will probably be less inclined to move the 24-year-old Pages, who had a league average .248/.305/.407 showing as a rookie. He still has a minor league option remaining, so they could start him in Triple-A if they don’t want to limit him to fourth outfield work.

Pages doesn’t have anything else to prove in the minors, but the Dodgers have the resources to continue loading up. Other teams figure to at least try to pull him away via trade, though L.A. could prefer to hold him as a replacement for Conforto after next season. Signing Blake Snell and retaining Blake Treinen earlier in the winter leaves the Dodgers without any clear holes on the roster.

At the start of the offseason, MLBTR predicted Hernández would receive a three-year deal at $60MM. He’ll land slightly above that forecast in raw money, though the deferrals will reduce the net present value to a hair below it. A three-year, $66MM deal without deferrals would have come with a $22MM competitive balance tax hit. Hernández’s number ends up around $19.4MM.

Including Hernández, RosterResource calculates the Dodgers’ luxury tax number around $353MM. They’re well beyond the $301MM mark that represents the final tier of penalization. They’re taxed at a 110% rate on the final AAV. Re-signing Hernández will likely cost them upwards of $40MM next year after taxes. The Dodgers have been undeterred by the CBT as they push for a repeat.

Hernández had declined a qualifying offer. Other teams would have needed to forfeit a draft choice to sign him. The Dodgers only relinquish the right to receive a 2025 compensation pick, which would have come after the fourth round. The Blue Jays and Red Sox had also been linked to Hernández this winter. Those clubs (especially Toronto) could turn to Anthony Santander, who stands as the clear top unsigned outfielder. Jurickson Profar is a tier or two below that as the next-best outfield bat.

Yancen Pujols first reported that Hernández and the Dodgers were finalizing a three-year, $66MM deal. Chris Cotillo of MassLive confirmed there was an agreement in place. ESPN’s Jeff Passan first reported the $15MM option for 2028, as well as the signing bonus and the approximate $23MM in deferrals. Fabian Ardaya of The Athletic reported the salary and deferral breakdown. Jon Heyman of the New York Post had the final NPV.

Image courtesy of Imagn.

Mets Notes: Manaea Contract Details, Alonso

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After previously reporting that Sean Manaea’s deal with the Mets would include $23.25MM in deferred payments, Will Sammon of The Athletic offered more details on the structure of Manaea’s contract this morning.

Manaea will earn equal $25MM salaries in all three years of the deal, adding up to the reported total guarantee of $75MM. However, $7.75MM of his salary will be deferred without interest each season, adding up to the reported total of $23.25MM in deferrals. As Sammon previously mentioned, the deferrals will be paid out in equal portions over 10 years from 2035-44. Sammon also notes that Manaea can earn standard additional incentives for making an All-Star appearance ($50K), winning a Gold Glove ($50K), winning LCS MVP ($50K), winning World Series MVP ($100K), and finishing top-three in Cy Young voting ($50K for first place, $25K for second place, $10K for third place).

The deferred payments mean that Manaea’s contract isn’t quite worth $75MM in present-day value. Therefore, the luxury tax hit for the Mets won’t be quite as high as his $25MM AAV. Jon Becker of FanGraphs suggests the present-day value of his AAV for luxury tax purposes is just over $22MM. That’s not entirely insignificant to the Mets, who will be paying the luxury tax once again in 2025. It’s also interesting that Manaea’s contract is about $1MM less valuable than the three-year, $67MM deal his former teammate Luis Severino signed with the Athletics. Jon Heyman of the New York Post reported last week that Manaea turned down that same offer from the A’s before they gave it to Severino instead. Of course, it’s not hard to understand why Manaea would rather pitch for the Mets than the A’s, but it’s interesting that he technically took a discount to re-sign with New York.

In another Mets update, Sammon theorizes that “contract length” is currently what’s holding up a deal between the Mets and Pete Alonso. Heyman recently made a similar suggestion, saying “I do think the years are the hang-up right now” (per Jon Heyman’s Insider Notebook on Bleacher Report). Back in December, Bob Nightengale of USA Today reported the Mets were still “pushing hard” to reunite with Alonso. From Alonso’s perspective, it’s hard to picture a better fit than the only team he’s ever known. Yet, a deal hasn’t come together. A disagreement over contract length could certainly explain why.

Presumably, Alonso and his agent Scott Boras are still looking to beat the guaranteed money from the seven-year, $158MM extension he reportedly turned down from the Mets in the summer of 2023. To do so, he’d need to sign for at least $137.5MM this winter (he already earned the first $20.5MM in 2024 during his final year of arbitration). It’s hard to imagine Alonso approaching that number on anything shorter than a six-year contract. Meanwhile, it’s not hard to understand why teams would balk at offering a six-year contract to a 30-year-old first baseman coming off two consecutive down years.

Red Sox To Keep Ceddanne Rafaela In Center Field “As Much As Possible”

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The Red Sox made a big investment in Ceddanne Rafaela last season, extending the youngster on an eight-year, $50MM deal in April. At the time, he had just 38 MLB games under his belt. They weren’t the most successful 38 games, either. Rafaela had a .672 OPS and 76 wRC+ with an abysmal 6:37 walk-to-strikeout ratio. Despite his blistering speed, he only had four stolen bases to that point, and he had already been caught stealing twice. Yet, his elite defensive capabilities must have helped the Red Sox look past his struggles on the other side of the ball.

Rafaela was long praised for his outfield defense as a prospect, and he lived up to the hype in the majors. By the end of the 2024 season, he had racked up 12 Defensive Runs Saved and a +7 Fielding Run Value in just 748.0 career innings as a center fielder. On the one hand, we have to be careful when looking at defensive metrics in such a small sample size. On the other hand, if Rafaela could keep those numbers up over a full season of work, he’d be one of the best fielders in the sport.

As if his performance in center field weren’t impressive enough, Rafaela has also appeared in 87 games at shortstop, 14 games at second base, and 4 games at third in his brief MLB tenure. He had plenty of infield experience in the minors. In fact, he began his pro career as a full-time infielder in 2018 and didn’t play the outfield until 2021. However, he took to center field so naturally that it soon became his primary position. By the time he made his MLB debut, it seemed safe to say he was a full-time center fielder.

But not so fast. As Trevor Story spent significant time on the IL in 2023 and ’24, the Red Sox needed help in the infield. Rafaela started five games at shortstop during his brief big league cup of coffee in 2023. The following year, the Red Sox temporarily named him their primary shortstop when Story went down with a shoulder injury in early April. He ended up playing more shortstop than any position and more shortstop than anyone else on Boston’s roster.

Rafaela’s versatility proved to be invaluable to the Red Sox in 2024. Unfortunately, it quickly became clear that he wasn’t more than a backup plan at short. His defense at the position was poor according to just about every available metric. Over 692.0 career innings at shortstop from 2023-24, Rafaela has made six fielding errors and four throwing errors. He has -3 Defensive Runs Saved and a -8 Fielding Run Value. Once again, it’s important to take defensive metrics in a small sample size with a grain of salt. Still, it’s impossible not to notice the world of difference between Rafaela’s performance in center field and at shortstop.

With that in mind, it was hardly controversial when Chief Baseball Officer Craig Breslow told reporters (including Sean McAdam of MassLive) that the Red Sox plan to keep Rafaela in center field “as much as possible.” With Rafaela in center full-time, the Red Sox could play 2024 Gold Glove finalist Jarren Duran in left field and 2024 Gold Glove winner Wilyer Abreu in right, giving them, perhaps, the best defensive outfield in the sport. Yet, McAdam raises the question of what Boston will do once star prospect Roman Anthony is ready for the majors. That shouldn’t take long, considering Anthony put up a .982 OPS and a 162 wRC+ in 35 games at Triple-A last season. Neither Anthony nor Duran is quite as talented as Rafaela in center field, but both can play the position. More to the point, Rafaela has shown far less promise at the plate. Duran has an .832 OPS and a 126 wRC+ over the past two seasons, while Anthony has spent the last two years tearing up the minor leagues. Similarly, Abreu has a .794 OPS and a 117 wRC+ over 160 MLB games. No matter how strong Rafaela’s defense might be, his .664 OPS and 79 wRC+ in 180 career games pale in comparison to those numbers.

Despite a potential logjam in the outfield, Breslow made it clear that the Red Sox don’t want Rafaela playing the infield (per McAdam). That’s not exactly a shocking revelation. After all, Rafael Devers has third base on lock, and Story should be the full-time shortstop as long as he’s healthy. Boston doesn’t have a guaranteed starter at second base, but David Hamilton was a stronger offensive player and a better infield defender than Rafaela in 2024. Vaughn Grissom has yet to show that he’s ready for regular playing time, but he’s still young, and presumably, the Red Sox would like to give him a chance to prove himself after an injury-plagued 2024 campaign.

Ultimately, however, this isn’t really about the other options in the infield. Simply put, the Red Sox want Rafaela to focus on the position where he’s most valuable. Indeed, Breslow thinks that moving between the infield and the outfield might have hampered his performance in both spots: “I’m not sure we saw the best of him even defensively because of the fact that he was switching back and forth between center and shortstop.”

It’s hard to argue with Breslow’s logic. At the same time, it’s worth wondering what the Red Sox plan to do with Rafaela once Anthony demands a promotion. Similarly, it’s worth wondering what this means about Boston’s purported pursuit of a right-handed bat. Could a slightly crowded outfield picture prevent Breslow from adding the righty bat his lineup so badly needs?

The simplest answer is that Rafaela can take on a fourth outfielder role if/when he finds himself squeezed out of the starting lineup. He could also be the short side of a platoon with Abreu, who struggles against southpaws. In addition, it’s not as if Breslow completely closed the door on Rafaela returning to the infield. Perhaps if Story suffers another injury, Rafaela will be back on the dirt after all. A role like that might not be what the Red Sox had in mind when they signed him to a $50MM contract, but it’s not as if his $1.25MM salary for the 2025 season is an overpay for a Gold Glove-caliber bench player. Maybe Boston will eventually try to trade an outfielder, but there’s no reason to think they’re in a rush to get Rafaela – or Duran, Abreu, or Anthony – off their hands. Besides, Anthony isn’t even on the 40-man yet, and there’s plenty that could happen to affect Rafaela’s potential role between now and Opening Day.

Image courtesy of Imagn.

Front Office Subscriber Chat Transcript

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MLBTR’s Anthony Franco held a live chat today, exclusively for Trade Rumors Front Office subscribers! Anthony took questions on whether the Cubs could extend Kyle Tucker, the Angels/Pete Alonso rumors, Robbie Ray's trade candidacy, whether the Marlins would move Sandy Alcantara, the Yankees' third base options, next moves for the Brewers, and much more.

 

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Latest On Financial Dispute Between Nationals And Orioles, MASN

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The Mid-Atlantic Sports Network (MASN) is co-owned by the Orioles and Nationals, although the Orioles have a controlling stake. Since the network was established in 2005, the two clubs have regularly fought over how much money the Nationals should receive in rights fees each season. These disagreements have led to several court battles over the years.

Earlier this week, the Nationals filed a petition with the Supreme Court of New York, requesting that the court confirm a decision from MLB’s Revenue Sharing Definitions Committee. The committee found that the Orioles and MASN owe the Nationals approximately $320.5MM in TV rights fees to cover the 2022-26 seasons (per Matt Weyrich of The Baltimore Sun). That would mean around $203.9MM in backpay for the past three seasons ($72.8MM for 2022 and ’23 and $58.3MM for ’24) and another $58.3MM in 2025 and ’26. To put those numbers in context, RosterResource estimates the Nationals spent around $130MM on player payroll in 2024.

As Weyrich points out, a quick resolution to this petition would mean the two clubs will be in agreement on a deal that holds for multiple years to come for the first time since 2012. As for whether or not the two sides will be able to stay out of court in 2027 and beyond? That remains to be seen. Orioles majority owner David Rubenstein previously spoke about his desire to move these discussions “away from the lawyers” but stopped far short of making any promises. “I don’t have an easy answer yet,” he said. “If it was easy, it would have been resolved” (per Weyrich).

The Nationals have been active this offseason, trading for Nathaniel Lowe, signing Josh Bell and Michael Soroka, and re-signing Trevor Williams. However, they have not made the kind of big splash (or even medium splash) that some thought they’d make this winter. With a projected 2025 payroll that is still $22MM below last year’s final figure and the possibility of more financial certainty if this $320.5MM agreement is confirmed, perhaps the Nationals will continue adding this offseason to supplement a roster full of talented but unproven young players.

The Opener: Kim, White Sox, White

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As the first weekend of 2025 approaches, here are three things we will be keeping an eye on around baseball:

1. Hyeseong Kim’s deadline to sign is fast approaching:

We don’t mean to sound like a broken record, but there’s a good reason why Hyeseong Kim is back at the top of The Opener for a second day in a row. The KBO star was posted last month, and his negotiating window officially opened on December 5, giving him 30 days to sign a contract with an MLB team. He now has less than eight hours remaining before his posting window closes this afternoon at 4:00 PM CT.

MLBTR ranked Kim at no. 26 on our Top 50 Free Agents list this winter, predicting he’d sign a three-year, $24MM deal. However, his name hasn’t come up in many rumors or reports since he was posted. If Kim does not sign today, he will return to his KBO team, the Kiwoom Heroes, for the 2025 season. As Jeeho Yoo of Yonhap News points out, Kim will be an unrestricted free agent next offseason, which means he won’t need to be posted a second time if he wants to pursue an MLB career. That could improve his chances of inking a deal. Not only will he have more time to negotiate, but his new team won’t be forced to pay a release fee to sign him.

2. White Sox 40-man move incoming:

The White Sox have a full 40-man roster, which means they’ll need to make space for Josh Rojas before they can finalize his signing. The free agent infielder reportedly agreed to terms on a one-year contract with Chicago on Thursday, but the team has yet to confirm the news. Financial details of the deal are something else to keep an eye out for this weekend – as of today, they have not been reported.

Earlier this week, the White Sox traded for left-handed Tyler Gilbert and designated infielder Braden Shewmake for assignment to make room on the roster. Thus, their 40-man is currently quite pitching heavy, featuring 24 arms and just 16 position players. With that in mind, it seems more likely the White Sox will cut a pitcher to free up space for Rojas.

3. Owen White’s DFA resolution:

After signing free agent reliever Hoby Milner, the Rangers DFA’d former top prospect Owen White to make room on the 40-man roster. Since then, White has been waiting in limbo. Typically, teams have seven days to resolve a DFA, but that timeline can be extended during the period between Christmas and New Year’s Day. Now that the holiday season is over, however, the Rangers will have to trade White or place him on waivers, presumably before the end of the weekend.

Which Teams Can Still Use Nolan Arenado?

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The Cardinals expected to have traded Nolan Arenado by now. President of baseball operations John Mozeliak suggested at the Winter Meetings that a deal could come together within a week or two. That probably would've been the case had the eight-time All-Star not used his no-trade clause to kill talks about a move to the Astros.

That leaves St. Louis in an awkward position. They've publicly shopped Arenado. He's seemingly amenable to waiving his no-trade clause in certain circumstances. For whatever reason, he wasn't interested in going to Houston last month. Subsequent reporting indicated he could consider the Astros in the future, but the team moved on to Christian Walker almost immediately and no longer needs a corner infielder. The Cardinals need to look elsewhere.

Will Sammon and Katie Woo of the Athletic reported this week that there's been minimal traction on an Arenado trade since the Houston talks collapsed. The Yankees, long a speculative fit, are apparently not as interested as it first seemed. The YES Network's Jack Curry pushed back against that notion last week. Jon Heyman also suggested in a Bleacher Report live stream yesterday that the Yankees were more likely to stick with DJ LeMahieu than to go after Arenado.

Where does that leave Mozeliak and company?

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Trevor Williams To Open Season In Nationals’ Rotation

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The Nationals brought Trevor Williams back on a two-year, $14MM free agent deal this week. The veteran righty spoke with the Washington beat (including Spencer Nusbaum of the Washington Post and Mark Zuckerman of MASNsports.com) this afternoon and indicated he’ll be part of Dave Martinez’s rotation.

While that’s not surprising in isolation, it potentially sets up a camp battle if Washington sticks with a five-man staff. They signed righty Michael Soroka to a $9MM deal to work as a starter. The Nats are also bringing back four pitchers who started at least 19 games last season: Jake Irvin, MacKenzie Gore, Mitchell Parker and DJ Herz.

All four of those returning arms had productive campaigns. Gore is a former top prospect who posted a 3.90 earned run average while striking out nearly a quarter of opponents across 32 starts. He’ll certainly be in the rotation. Irvin led the team with 187 2/3 innings and turned in a 4.41 ERA with decent underlying metrics. The 27-year-old righty did seem to wear down in the second half, as he allowed a near-6.00 ERA after taking a 3.49 mark into the All-Star Break. He still seems likely to be a starting pitcher himself.

If Washington wanted to begin the year with a five-man staff, that could leave Parker and Herz battling for a job if everyone comes through Spring Training healthy. Herz showed more swing-and-miss ability, fanning nearly 28% of opponents with a 12.9% swinging strike rate in 19 starts as a rookie. The southpaw’s 9.4% walk rate was the highest of any of Washington’s starters, though. Herz has had far more worrisome walk numbers in the minors, including a massive 19% clip over 10 Triple-A starts last year.

Parker, 25, profiles as a steadier back-end arm. He made 29 starts during his debut campaign and turned in a 4.29 ERA through 151 innings. He struck out 20.6% of opponents against a tidy 6.7% walk percentage. Parker doesn’t throw quite as hard as Herz does and doesn’t miss bats at the same rate, but he looks the part of a league average starter.

Washington used a six-man rotation when Williams returned from injury late last season. Patrick Corbin, who is now a free agent, was on hand in the role that Soroka would play this year. That’d be the simplest solution if all six starters are available on Opening Day. Each of Gore, Irvin, Parker and Herz have minor league options, though, so the Nats could send anyone from that group to Triple-A if they wanted to move to a five-man staff.

Prospect Cade Cavalli will be in the mix after missing nearly two full seasons recovering from Tommy John surgery. Nusbaum writes that Cavalli, who made his big league debut with one start in 2022, is likely to open the year in the minors. That’s designed to allow the team to monitor his workload since he has only thrown 8 1/3 minor league innings over the last two years. Cavalli is expected to factor into the MLB staff at some point in the season.

Details On Corbin Burnes Contract

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The Diamondbacks finalized their shocking six-year free agent deal with Corbin Burnes on Monday. The former Cy Young winner signed a $210MM contract, though deferrals in the $60MM range were known to have knocked down the net present value to an extent.

Jon Heyman of the New York Post reports the deal’s specific breakdown. The contract officially contains $64MM in deferred money. Burnes will collect a $10MM signing bonus up front, which was first reported by USA Today’s Bob Nightengale. $10MM of his $30MM salaries over the next two seasons will be deferred. If he does not trigger an opt-out clause after the ’26 season, he’d be due $35MM annually between 2027-30. $11MM of those salaries will be deferred. According to Heyman, the contract comes with a net present value of roughly $193.76MM.

Burnes will be able to opt out with four years and $140MM remaining. Whether he does so will determine when he receives the deferred money. According to the Associated Press, Burnes would be owed either $10MM or $11MM installments between 2031-36 if he does not trigger the out clause. If he does opt out, he’d receive a pair of $10MM payments after the 2027 and ’28 seasons. (There’d only be $20MM in deferrals if he opts out after two years.) Burnes has full no-trade rights for the first two years. That would drop to a 14-team no-trade list for the final four seasons if he doesn’t opt out, per the AP.

Arizona now has a projected rotation featuring Burnes, Zac Gallen, Merrill Kelly, Brandon Pfaadt and Eduardo Rodriguez. Righty Ryne Nelson has pitched well enough to hold a rotation job as well, so the Snakes could consider a six-man starting staff to open the year. Even that wouldn’t leave room for Jordan Montgomery, whose $22.5MM salary the D-Backs would be happy to offload. Nick Piecoro of the Arizona Republic reported shortly after the Burnes agreement that the Snakes were not on the verge of any rotation trades. That’ll remain a major storyline for the club over the next couple months.

Rockies Hire Scott Oberg As Pitching Coordinator

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The Rockies are hiring former reliever Scott Oberg as a minor league pitching coordinator, reports Patrick Saunders of the Denver Post. It’s the first full-time instructional position for the 34-year-old since his retirement as a player in 2023.

Oberg has been something of an unofficial coaching presence in Colorado for a couple seasons. He has worked as a part-time consultant for the team’s minor league affiliates and their MLB staff. That served as a trial run for what was always envisioned as a larger coaching or player development role in the long term.

The relationship between the Rockies and Oberg stretches well beyond a decade. Colorado drafted him out of UCONN in the 15th round in 2012. It was an excellent pick, as the righty reached the majors three years later and spent a half-decade in the Colorado ’pen. He posted consecutive sub-3.00 ERA seasons in 2018 and ’19 and was a key high-leverage piece for skipper Bud Black.

Colorado signed Oberg to a $13MM extension over the 2019-20 offseason. Unfortunately, his playing career would come to a close before he could throw another MLB pitch. Recurring blood clots and thoracic outlet syndrome in his throwing arm made it impossible for Oberg to play again. He worked in Colorado’s scouting department to provide some off-field value over the life of that contract. He announced his retirement when it expired.

Saunders notes that Oberg has earned a master’s degree in sports management from Georgetown since retiring as a player. Given his strong relationship with the Colorado front office and coaching staff, there’s a good chance he’ll move quickly up the team’s pitching development ranks in the next few seasons.

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