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Edwin Diaz

Braves Reportedly Made Five-Year Offer To Edwin Diaz

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The Dodgers landed free agency’s top reliever on a three-year, $69MM contract last week. It wasn’t the reported five-year, $100MM deal which Edwin Díaz had sought going into the offseason, but the $23MM average annual value allowed him to break his own record for tops among relief pitchers.

The incumbent Mets reportedly weren’t keen on going beyond three years either. However, Díaz evidently had at least one team that was willing to pay him for his ages 32-36 seasons. ESPN’s Jorge Castillo reported this week that the Braves made a five-year proposal. Salary details and the contract structure aren’t known. In any case, whatever the Braves offered wasn’t enough for Díaz to prefer it to the (presumably much higher) annual value that the Dodgers put on the table.

Details on a team’s unsuccessful free agent pursuit can sometimes provide a hint for where they’ll go next. This one is probably little more than a footnote, as the Braves moved quickly once Díaz came off the board. They signed Robert Suarez to a three-year, $45MM contract two days later. Atlanta spent another $20MM to bring back Ha-Seong Kim on a one-year deal this week. They’re now projected above the $244MM luxury tax threshold, with RosterResource estimating their CBT commitments around $256MM. The Braves paid the luxury tax in 2023 and ’24 but dipped below the line this year.

The Díaz offer at least confirms that the Braves aren’t opposed to giving up draft capital. The three-time All-Star had rejected a qualifying offer from the Mets. Atlanta would forfeit the 26th overall pick in next year’s draft to sign a qualified free agent. That’s the bonus selection they received from the Prospect Promotion Incentive thanks to Drake Baldwin winning Rookie of the Year. The Braves would have also surrendered $500K from their international amateur bonus pool in 2027. They did not lose a pick for Suarez, who did not receive a QO from the Padres.

That may also be a moot point if the Suarez and Kim signings took up the remainder of the budget. If they’re willing to continue spending, there are still six qualified free agents. The Braves aren’t signing Kyle Tucker or Bo Bichette, but any of the four starting pitchers — Framber Valdez, Ranger Suárez, Zac Gallen or Michael King — would be a sensible fit on paper.

The Braves have made four big free agent signings and one notable trade but have yet to do anything to solidify a rotation that was wrecked by injuries. They can’t assume that their top five of Chris Sale, Spencer Strider, Spencer Schwellenbach, Hurston Waldrep and Reynaldo López are going to stay healthy. A depth group led by Bryce Elder and Didier Fuentes isn’t sufficient. Adding a mid-rotation arm should be the priority now that they’ve addressed the bullpen and shortstop.

Dodgers Sign Edwin Diaz

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December 15th: The deal also contains a condition club option for 2029, reports Jon Heyman of The New York Post. That option has a $6.5MM base, with Diaz able to earn an extra $750K for 45 games finished and 50 games finished, plus another $1MM for 55 games finished. The specific conditions for the option aren’t known but Alden González of ESPN reports that it would be available to the Dodgers if Diaz spends a certain amount of time on the injured list.

December 12th: The Dodgers officially announced the signing today.

December 9th: For the second straight offseason, the Dodgers are signing the top relief arm on the market. They’ve reportedly agreed to a three-year, $69MM contract with now-former Mets closer Edwin Diaz. It’s a record-setting annual value for a reliever, breaking the $20.4MM record that Diaz himself already held. Diaz’s contract with the Dodgers contains $4.5MM in deferred salary annually. The net-present value, for luxury tax purposes, is roughly $21.1MM.

Diaz, a Wasserman client, returned to the open market this winter when he opted out of the final two seasons of the precedent-setting five-year, $102MM contract he signed with the Mets the last time he was a free agent. The right-hander had been guaranteed $38MM over the final two seasons of that contract, so by opting out and testing the market, he secured himself an additional one year and $31MM in guarantees. The Mets, according to Joel Sherman of the New York Post, offered Diaz a three-year, $66MM deal with “slight” deferrals.

The 31-year-old Diaz (32 in March) has spent the past seven years in Queens and, after a rocky first campaign, has turned in a collective 2.36 ERA (2.12 SIERA, 2.15 FIP) with a mammoth 40.8% strikeout rate and 8.9% walk rate. He’s piled up 144 saves in 332 appearances as a Met.

For the Dodgers, Diaz represents the most on-the-nose means of addressing a problem that nearly doomed them in the postseason: a lack of reliable bullpen help. Injuries to Evan Phillips, Tanner Scott, Brusdar Graterol and others left the Dodgers with a thin enough stock of trustworthy relievers that L.A. turned to Blake Snell, Tyler Glasnow and Yoshinobu Yamamoto (one day after he threw nearly 100 pitches) in pivotal high-leverage settings during their World Series run. That they even progressed to the World Series was largely attributable to historic performances from starters Yamamoto, Snell, Glasnow and Shohei Ohtani in the postseason’s earlier rounds.

The Dodgers have now signed the top reliever on the market in consecutive offseasons. They inked Tanner Scott to a four-year, $72MM pact last winter, though that deal contained $21MM worth of deferred money, thus knocking down the present value. Scott’s first year in L.A. didn’t go at all as hoped; he limped to a 4.74 ERA with improved command but lesser velocity and strikeout rates. After yielding 11 home runs in the 2022-24 seasons combined, Scott served up 11 round-trippers in his first season as a Dodger.

Certainly, they’ll hope for better results with Diaz, whose track record is lengthier and steadier than that of Scott. While he’s naturally had some year-to-year variance in his earned run averages — as is the case for any reliever — Diaz has been at 3.52 or better in each of the past five seasons, including three sub-2.00 campaigns. He’s punched out at least 34.6% of his opponents each season along the way, and since a shaky walk rate in 2021, he’s sat between 7.7% and 9.3% in that regard for four straight seasons.

That’s not to say there aren’t any red flags at all with regard to Diaz. His average fastball velocity has dipped in two consecutive seasons. While this past season’s average of 97.2 mph was still well above average, it’s also two miles per hour shy of Diaz’s 2022 peak. He also gave up considerably more hard contact. Diaz’s 88.5 mph average exit velocity and 39.7% hard-hit rate were both the second-highest marks of his career, trailing only his disastrous 2019 season (his first as a Met). Neither is a glaring issue, particularly considering Diaz maintained elite strikeout and swinging-strike rates (38% and 18%, respectively), but he’ll want to avoid allowing those negative trends to continue, however slight they may currently be.

Diaz will slot into the ninth inning, pushing Scott to a setup role alongside Alex Vesia, Blake Treinen, Anthony Banda, Brock Stewart and Graterol. Will Klein, Ben Casparius and Jack Dreyer all had solid or better seasons in 2025, but if everyone is healthy — far from a given — there’s only room for one of that trio in the final bullpen spot. Of course, injuries will inevitably create opportunities for many of the Dodgers’ overqualified depth arms, and each of Klein, Casparius, Dreyer and Edgardo Henriquez have minor league options remaining.

The Dodgers have paid the luxury tax in (more than) three consecutive seasons and are more than $60MM over the $244MM first-tier luxury threshold, meaning they’ll pay a 110% tax on the AAV on Diaz’s contract. However the annual salaries break down, he’ll cost them an additional $25.3MM in taxes alone. Assuming an evenly distributed $23MM per season, RosterResource, now projects next year’s Dodgers payroll at just over $359MM (although that does not account for substantial deferrals to Ohtani, Scott, Freddie Freeman, etc.).

The Mets would have been subject to those same penalties had they matched or topped this offer. Diaz reportedly entered the market seeking a five-year contract. When that didn’t materialize, he clearly pivoted to a record-setting, shorter-term arrangement. The extent of the deferrals in New York’s offer aren’t yet clear, but there’s no indication (yet, anyway) that the Dodgers’ offer includes any deferred money.

While New York couldn’t have known when signing Devin Williams to a three-year, $51MM pact that Diaz would also sign for three years and a total of $18MM more, the results from those two high-end relievers will now be carefully watched by Mets fans for the next three seasons. If Williams returns to form, it’ll look like a savvy pivot to get a comparable reliever at a lesser rate. If not, there will be plenty of second-guessing and criticism from the fan base.

Of course, owner Steve Cohen also clearly has the resources to have simply won the bidding on both relievers, but that’s ultimately not the route the front office chose. They’ll now look to other avenues as they seek to continue adding to the bullpen. The Mets were open to re-signing Diaz even after adding Williams, and while this deal clearly went past their comfort zone, there are other high-end arms still available — Robert Suarez, most notably. Choosing to let Diaz walk also frees up further resources for a potential re-signing of Pete Alonso or perhaps a run at another target of note.

The Mets bid farewell to Diaz, who rejected a $22.025MM qualifying offer, with only minimal compensation for his departure. Due to their status as luxury tax payors, they’ll receive a compensatory draft pick after the fourth round of next summer’s draft. The Dodgers, meanwhile, will surrender their second- and fifth-highest selections in next year’s draft. The league-allotted cap on their personal spending pool for international amateur free agents will also be reduced by $1MM.

Such considerations tend to be ancillary for the market’s top-spending clubs. Perennial luxury payors consider them the cost of doing business in the deepest waters of the free agent pool. The Dodgers have punted draft picks to sign Shohei Ohtani and Freddie Freeman (among others) in recent seasons. For them, the allure of adding a closer with nearly unrivaled dominance takes precedence as they try to assemble a roster capable of winning three consecutive World Series for the first time since the 1998-2000 Yankees.

The Athletic’s Will Sammon first reported the agreement. Sammon and colleague Ken Rosenthal were also the first to report the three-year term. ESPN’s Jeff Passan broke the total guarantee. Joel Sherman and Jon Heyman of the New York Post reported the Dodgers’ emerging interest in Diaz shortly before the agreement became public. Sherman reported on the deferrals.

MLBTR Podcast: Winter Meetings Recap

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The latest episode of the MLB Trade Rumors Podcast is now live on Spotify, Apple Podcasts, and wherever you get your podcasts! Make sure you subscribe as well! You can also use the player at this link to listen, if you don’t use Spotify or Apple for podcasts.

This week, host Darragh McDonald is joined by Anthony Franco of MLB Trade Rumors to discuss…

Check out our past episodes!

  • An Agent’s Perspective with B.B. Abbott – Also, Cease, Williams, Helsley, And Gray – listen here
  • Some “Classic Baseball Trades,” Nimmo For Semien, And Ward For Rodriguez – listen here
  • Offseason Preview Megapod: Top 50 Free Agents – listen here

The podcast intro and outro song “So Long” is provided courtesy of the band Showoff.  Check out their Facebook page here!

Photo courtesy of Jim Rassol, Imagn Images

Mets Not Ruling Out Edwin Diaz Reunion Despite Williams Signing

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Dec. 2:  While the Mets do still hope to re-sign Díaz, there’s been a gap in talks. Will Sammon of The Athletic reports that while Díaz has indeed been seeking a five-year pact, the Mets’ preference has been to limit the commitment to a three-year term (presumably at a top-of-the-market annual value).

Dec. 1: The Mets are adding Devin Williams to the back of their bullpen on a three-year contract. That gives them an established closer if Edwin Díaz signs elsewhere, but it apparently won’t completely shut the door on Díaz staying in Queens.

Anthony DiComo of MLB.com was among those to report that the Mets still have interest in re-signing Díaz. It seems Williams is on board with that plan, as DiComo writes that the new signee is open to pitching in a setup capacity if the Mets bring back their incumbent closer. Díaz rejected a qualifying offer and is reportedly seeking a deal in the five-year, $100MM range. At last month’s award ceremony, the three-time All-Star put the chance of a reunion around 50-50. “If they came with the best deal for me, I’d enjoy to stay with them,” Díaz told reporters at the time, “but at the end of the day, I don’t know what they’re thinking.”

The Williams signing presumably reduces the odds of a Díaz return. The Mets might feel more comfortable walking away and collecting a compensatory draft pick now that they no longer need a closer. Yet they certainly still need to add in the late innings. Tyler Rogers, Ryan Helsley, Gregory Soto and Ryne Stanek also all hit free agency. If Williams were penciled into the ninth, Huascar Brazoban would be their most established right-handed setup man. They should bring in another two high-leverage relievers at least.

Díaz is also simply an upgrade over Williams in the ninth inning. While there’s reason for optimism in the latter’s track record and underlying metrics, he’s a bit of a gamble coming off an uneven year with the Yankees. Díaz has no such concerns, as he posted a 1.63 earned run average while striking out 38% of opponents across 66 1/3 innings last season. He went 28-31 in save chances. That’ll be reflected in their respective contracts, but the bullpen would look a lot more formidable with Williams in the eighth and Díaz back in the ninth.

The Blue Jays are the only other team that has been publicly linked to Díaz this offseason. Teams like the Dodgers, Giants, Yankees, Tigers, Red Sox, Cubs, Diamondbacks and Angels could also be in the mix for high-leverage bullpen help.

Nimmo, Stearns, Young Discuss Semien Trade

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The Mets and Rangers lined up on a surprising one-for-one swap over the weekend, with outfielder Brandon Nimmo heading to Texas and infielder Marcus Semien to Queens. Today, members of the media got to speak with many of the parties involved. Arguably, the most notable comment came from Nimmo himself, who waived his no-trade clause to become a Ranger. “I would not have waived that no-trade clause if I didn’t think I could come here and win,” Nimmo said, per Shawn McFarland of the Dallas Morning News.

It has been fair to wonder about the direction of the Rangers recently, as they’ve clearly been trying to dial back their spending. They pushed their competitive balance tax a bit over the line in 2023 and 2024. In 2025, they hoped to duck under the line but may have gone over with in-season trades, such as acquiring Merrill Kelly from the Diamondbacks. Their 2025 status won’t be official until MLB releases the final calculations, likely in December, but it’s possible the Rangers will be tax payors for a third straight season.

Even if they did go over the line, it was surely by a narrow margin, so the tax bill won’t be huge. Regardless, it seems they are going to be extra motivated to pinch pennies in 2026. The club parted ways with manager Bruce Bochy at the end of the regular season. President of baseball operations Chris Young admitted that the club didn’t have a lot of financial certainty, which played a role in that separation. Esteemed pitching coach Mike Maddux also left, heading to the Angels, which prompted speculation that was financially motivated as well.

In terms of the roster construction, the Rangers were recently trying to trade outfielder Adolis García and catcher Jonah Heim, despite both players being part of the 2023 championship club. Each could have been retained via arbitration for 2026 but the Rangers clearly didn’t want to pay them at their projected prices. Ultimately, no trade came together. On Friday, the Rangers non-tendered both, along with relievers Jacob Webb and Josh Sborz.

Amid all of that, rumors have swirled that the Rangers could trade a more expensive franchise players such as Corey Seager or Semien as part of a larger step back. Now Semien has indeed been traded but the Rangers have taken on another sizable contract by getting Nimmo in return. The remaining contracts are somewhat analogous, with Nimmo making less annually, but signed for two extra years. The Rangers are therefore taking on more money overall but less per year.

It seems that Nimmo has been assured that the club is still planning to compete and isn’t doing a big teardown. That’s somewhat encouraging for fans in Texas but the club will probably still have some tight parameters to deal with. RosterResource estimates the club has a pure payroll of $169MM next year and a competitive balance tax figure of $187MM. Last year, those numbers were $224MM and $237MM.

Getting back up to those levels would give the Rangers roughly $50MM to work with but the signs are pointing to them setting a lower target. They have a number of things on the to-do list this winter. The rotation could use some shoring up. Almost the entire bullpen reached free agency, meaning there’s work to do there. Replacing Heim behind the plate and potentially Semien at second are other potential areas to target, though it’s possible the Rangers are happy with Willie MacIver as a backup to Kyle Higashioka behind the plate. It’s also possible they feel Josh Smith and/or Sebastian Walcott can take over at the keystone.

President of baseball operations Chris Young also spoke today and echoed Nimmo’s comments that the Rangers want to win. “I do think we are focused on winning moving forward,” Young said, per Kennedi Landry of MLB.com. “The last two years have been very difficult as we feel like we have not lived up to our expectations, and when you don’t meet expectations, you have to make tough calls, and that’s part of this.”

Young also said Nimmo will likely end up in right field, per McFarland, but there are still conversations to be had there. Nimmo has primarily been a left fielder in recent years, with Statcast ranking him as having 48th percentile arm strength. The Rangers could perhaps keep Nimmo in left while moving Wyatt Langford to right. Langford’s arm strength was slightly ahead of Nimmo in 2025, with Statcast giving him 59th percentile arm strength. However, Langford has no professional experience in right, while Nimmo has over 600 big league innings at that spot.

Turning to the other side of the trade, Mets president of baseball operations David Stearns also spoke to the media today, complimenting his new second baseman. “It’s notable that this is a player that can contribute to winning baseball in a variety of different ways,” Stearns said, per Deesha Thosar of Fox Sports, “and the bat may not actually lead the way at this point in his career. We think there’s likely some bounce back in his offensive profile and his offensive game. But what we’re counting on at the top of his skillset is the contributions he can make for us defensively, how he can perform on the bases, and we think those are going to help us win games.” Stearns has highlighted a desire to improve the Mets’ run prevention, so it’s understandable he would focus on Semien’s defense.

Naturally, Stearns was asked about what’s next for the Mets. While the story in Texas might be scaled-back spending, that doesn’t appear to be a concern with the Mets. “Sure,” Stearns said, when asked if it’s possible for the Mets to re-sign Pete Alonso and Edwin Díaz and a notable free agent outfielder. “I think anything would be realistic right now.”

Under owner Steve Cohen, the Mets have been one of the top-spending clubs in the majors. Per RosterResource, they had a $340MM payroll and $337MM CBT number in 2025. For 2026, those numbers are at $263MM and $264MM. That gives the Mets something like $70MM in wiggle room if they are willing to get to the same level and it’s entirely possible they could be willing to go even higher.

MLBTR predicted Díaz to secure an $82MM deal over four years. He is reportedly setting his sights higher than that, targeting a deal in the same range as his last one, which was a $102MM guarantee over five years. Either way, a deal worth roughly $20MM annually is probably likely. MLBTR predicted Alonso for $110MM over four years, which would be $27.5MM in terms of average annual value.

Put together, those two would likely eat up something near $50MM of next year’s payroll. If the Mets do have $70MM of space right now, that would leave them another $20MM to spend on an outfielder, though they also presumably want to make additions to the rotation as well. The Mets have already been connected to Cody Bellinger and the Nimmo deal opens a corner, raising immediate speculation about a run at Kyle Tucker. MLBTR predicted Bellinger for $140MM over five years and Tucker for $400MM over 11 years, respective AAVs of $28MM and $36.36MM.

There are other moving pieces at play. With Semien now at second base, it’s possible Jeff McNeil’s chances of getting traded have increased. He can play other positions, such as left or center field, but it’s possible the Mets would rather ship him out the way they did with Nimmo. Even before the Nimmo deal, McNeil’s name was in trade rumors. McNeil is owed $15.75MM next year, plus a $2MM buyout on a $15.75MM club option for 2027. There’s also a $500K assignment bonus if he’s traded. Then there’s also Kodai Senga, who is owed $14MM annually over the next two years and has been in trade rumors as well.

If the Mets can find a taker for McNeil and/or Senga, they could free up some more money for their other pursuits, or perhaps address another area of need by taking back another veteran player, like they did by grabbing Semien. Stearns also mentioned today that McNeil could also play some first base, expanding his versatility, per Mike Puma of The New York Post. McNeil has played every position on the diamond outside the battery but has just three innings of first base experience. If Alonso isn’t coming back, McNeil could be part of the solution there, alongside guys like Mark Vientos. Though it’s also possible the Mets aren’t done shaking up their roster by trading out long-time mainstays.

Photo courtesy of Kyle Ross, Imagn Images

Nine Players Reject Qualifying Offer

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The deadline to accept the qualifying offer has passed. Four players — Trent Grisham, Gleyber Torres, Brandon Woodruff, and Shota Imanaga — chose to accept the one-year, $22.025MM deal and remain with their current clubs. The remaining nine players rejected the deal. They are: Cubs outfielder Kyle Tucker, Phillies DH Kyle Schwarber, Blue Jays infielder Bo Bichette, Astros lefty Framber Valdez, Padres righty Dylan Cease, Phillies lefty Ranger Suarez, Mets closer Edwin Diaz, Diamondbacks righty Zac Gallen, and Padres righty Michael King. All nine are now free agents.

There’s not much surprise in any of the nine players who rejected. Tucker, Schwarber, Bichette, Valdez, Cease, Suarez and Diaz were all locks. Gallen may have given some brief thought to accepting after a rough showing in 2025, but he finished strong and has a track record as a high-end starter who’s garnered multiple top-five finishes in NL Cy Young balloting. King was hobbled by nerve and knee injuries in an odd season but was dominant in 2023-24 and through the first two months of the current season. He was healthy late in the year and fanned three in his lone inning of postseason work. He’ll test the waters in search of a multi-year deal as well.

Now that this nonet has rejected qualifying offers, they’ll all be subject to draft compensation. Interested teams will need to surrender a draft pick (or multiple picks) and, in some cases, space from their bonus pool for international amateurs in order to sign any of this group. The extent of that draft compensation depends on the revenue-sharing and luxury tax status of the new team. MLBTR broke down which pick(s) each club would forfeit by signing a “qualified” free agent last month.

Similarly, the compensation for each player’s former club is dependent on revenue-sharing and luxury tax status — as well as the size of the contract signed by the player in question. MLBTR also ran through the compensation each team would receive if their qualified free agents turned down the offer and signed elsewhere.

Blue Jays Targeting High-Leverage Relievers

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The Blue Jays are targeting high-leverage relievers, reports Mitch Bannon of The Athletic. Free agent Edwin Díaz appears to be one possibility, according to Ken Rosenthal of The Athletic. Rosenthal frames the Jays as the main threat to poach Díaz from the Mets. Rosenthal reports that the Jays recently met with Díaz’s representatives from Wasserman, though he also notes that may not mean anything since everyone meets with everyone at this time of year. Jeff Jones of The Belleville News-Democrat reports that the Jays were interested in Ryan Helsley ahead of the deadline. He is now a free agent and could be a target as well. The Jays were also connected to Pete Fairbanks earlier this week.

The Jays have seemingly been casting a wide net early in the offseason, having been connected to all kinds of different pursuits. The bullpen is one thing on their list and it’s a sensible one. The Jays had a middling relief group in 2025. Toronto relievers had a collective 3.98 earned run average, which was 16th out of the 30 big league clubs. Closer Jeff Hoffman had a 4.37 ERA for the year. He dominated through most of the playoffs but then surrendered the big Miguel Rojas home run when the Jays were two outs away from a title.

Last week, general manager Ross Atkins said that Hoffman would be open to moving to a different role if the Jays found another closer. It seems the Jays are indeed considering that. Díaz is one of the best closers in the game today. He already has 253 saves under his belt. He just wrapped up a season in which he had 1.63 ERA, 38% strikeout rate, 8% walk rate and 48.4% ground ball rate.

He has been with the Mets since 2019 and it might be assumed by some that he will end up back in Queens. He was approaching free agency three years ago but signed a five-year, $102MM deal to stay with the Mets just days before he was set to hit the open market. That deal contained an opt-out after three years, which Díaz triggered. He is now a free agent for the first time.

The Mets could certainly re-sign him but it doesn’t seem to be a fait accompli. Díaz himself said this week he has been talking with the Mets but put the odds of a return at 50/50, per Laura Albanese of Newsday. “If they came with the best deal for me, I’d enjoy to stay with them,” Díaz said, “but at the end of the day, I don’t know what they’re thinking.”

Díaz is still quite a good reliever but he is three years older than when he signed his previous deal. MLBTR predicted him to secure a four-year, $82MM pact this time around, a similar average annual value but on a shorter commitment since he’ll turn 32 years old in a few months. Díaz appears to be setting his sights a bit higher than that. Earlier this week, reporting from Rosenthal and Will Sammon of The Athletic indicated he is looking for roughly the same kind of deal he got last time. Bob Nightengale of USA Today echoed that this week, reporting that Díaz is looking for at least $100MM over five years.

That would be a notable expenditure for any club. As shown in MLBTR’s Contract Tracker, the $102MM guarantee from the previous Díaz deal is still the record for a reliever. The $20.4MM AAV is also top of the list, apart from swingman Nick Martinez accepting a $21.1MM qualifying offer from the Reds a year ago.

Whether the Jays would be willing to do that remains to be seen. They’ve never given a reliever more than the three years and $33MM they gave to Hoffman a year ago. They might have to triple that to land Díaz. Perhaps getting so close to a World Series will push them there, both because the bullpen let the last game slip away and because they presumably raked in a bunch of extra money from the deep playoff run.

RosterResource projects the Jays for a $235MM payroll next year, more than $20MM shy of their year-end figure in 2025. It’s unknown how high they are willing to go in the wake of their 2025 run. Presumably, there is a limit somewhere and they will have to balance their desire for Díaz against pursuits of Bo Bichette, Kyle Tucker, starting pitching and so on. Díaz also rejected a qualifying offer. Since the Jays paid the competitive balance tax in 2025, signing a player tied to a QO means they would have to forfeit two draft picks and international bonus pool space.

The Mets have been operating with very few payroll limits in recent years but David Stearns has shown a measured approach to building his pitching staff since taking the president of baseball operations job. Despite having Steve Cohen’s seemingly boundless resources, he hasn’t given a pitcher a deal longer than three years yet. The bullpen has mostly been built with one-year deals. A.J. Minter got two years with an opt-out in the middle, though his lack of health in 2025 means he will be coming back for that second year.

Some may speculate that Cohen would just override Stearns and bring back Díaz as a fan favorite. Rosenthal downplays this notion is his column, linked above, referring back to the 50/50 comments from Díaz.

Turning back to the Jays, they could also shop in a different aisle. As mentioned, they have been connected to Fairbanks, who will be far cheaper than Díaz. That’s also true of Helsley, who has a strong track record but is coming off a poor platform season.

From 2022 to 2024, Helsley tossed 167 2/3 innings with a 1.83 ERA, 34.6% strikeout rate and 9.2% walk rate. In 2025, his ERA jumped to 4.50 as his strikeout rate fell to 25%. He was especially bad after getting traded from the Cardinals to the Mets at the deadline, with a 7.20 ERA after that swap.

That obviously puts a big dent in his earning power but he should still get interest as a bounceback candidate. Plenty of clubs would be happy to try him on a one-year deal with the hope that 2025 was a blip. He might also have enough juice for two years with an opt-out. MLBTR went the latter route, predicting him for a two-year, $24MM guarantee.

There’s no denying the trend lines aren’t good. Helsley’s strikeout rate has gone from 39.3% in 2022 to 35.6%, 29.7% and 25% in the most recent seasons. But he still averaged 99.3 miles per hour on his fastball this year, a tiny drop from his peak of 99.7 mph in in 2023. He may have been tipping his pitches and he also surrendered a fairly high .342 batting average on balls in play. His 14.5% home run to fly ball ratio was far worse than previous seasons. Part of that was him getting hit harder than before but some teams may feel he could be back to his old self with a tweak or two.

If the Jays circle back to Helsley, that would be a far different addition than Díaz. Díaz is about as rock-solid as a closer gets these days and would immediately supplant Hoffman as the top guy in the bullpen. Helsley would be a lower-cost flier and would surely start lower in the pecking order before having to earn his way up. How the Jays play it will presumably depend on the other market factors and how things play out with the other things on their to-do list.

Photo courtesy of Brad Penner, Imagn Images

Jacob deGrom, Ronald Acuna Jr. Named Comeback Players Of The Year

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The main event of Thursday’s award revelations came with the BBWAA’s announcement that Shohei Ohtani and Aaron Judge repeated as MVP winners. Major League Baseball also conducted its award ceremony tonight, revealing a handful of honors that are not decided by the writers.

Most notably, the league named Jacob deGrom and Ronald Acuña Jr. the respective Comeback Players of the Year. deGrom’s comeback from Tommy John surgery technically occurred at the end of the 2024 season. The two-time Cy Young winner made three late-season appearances last year. He took the ball 30 times this past season and worked to a 2.97 earned run average with 185 strikeouts across 172 2/3 innings. He earned his fifth All-Star nod and finished eighth in AL Cy Young balloting in his age-37 season.

Acuña bounced back from the second ACL tear of his career. The 2023 NL MVP had suffered the season-ending left knee injury on May 26, 2024. He made it back almost one year to the day later. The Braves activated Acuña from the injured list on May 23. He’d return to superstar form, hitting .290/.417/.518 with 21 homers in 95 games. Acuña went back on the injured list around the trade deadline with right Achilles tightness. He only missed a couple weeks and came back to hit .268/.402/.437 down the stretch despite an injury-riddled Atlanta team being well out of contention. It’s the second straight season in which a Brave was named NL Comeback Player of the Year. Chris Sale received that honor last season.

MLB announced a few other honors. Ohtani and Judge repeated as the respective Hank Aaron Award winners as the league’s best hitters. Ohtani yet again won the Edgar Martinez Award as MLB’s best designated hitter. Aroldis Chapman and Edwin Díaz won the respective Reliever of the Year honors. Díaz is free agency’s top reliever coming off a 1.63 ERA across 62 appearances. Chapman turned in a 1.17 ERA over 61 1/3 frames in what is arguably the best season of his fantastic career. He re-signed with the Red Sox on a $13MM deal in August. The BBWAA will reintroduce its own Reliever of the Year Award in 2026.

Brewers president of baseball operations Matt Arnold was named Executive of the Year for the second consecutive season. Milwaukee won an MLB-best 97 games and advanced to the NL Championship Series despite having an Opening Day payroll around $115MM. That was the eighth-lowest mark in the majors.

MLB also announced its 1st and 2nd teams. These are not league specific and are designed to honor the best players at each position. Those are as follows:

1st Team

2nd Team

Orioles Pursuing Prominent Pitching Upgrades, Open To Signing Qualifying Offer Recipients

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On the heels of a disappointing 2025 season, Orioles president of baseball operations Mike Elias is striking a much more aggressive tenor in his early media appearances this offseason than last. Baltimore’s baseball ops leader candidly acknowledged this week that he’s hopeful of adding a starter who can give his team “innings and front-half-of-the-rotation stuff” as well as a reliever “who has closer experience” (links via Andy Kostka of the Baltimore Banner and Jake Rill of MLB.com. Just as notably, Elias voiced that he is “fully prepared” to forfeit draft pick(s) to sign free agents who have rejected a qualifying offer.

It’s a notable departure from Baltimore’s 2024-25 offseason. The O’s made a multi-year offer to Corbin Burnes that wasn’t accepted. It’s not clear how many — if any — other free agents received multi-year offers from the Orioles.

Ultimately, Elias & Co. handed out almost exclusively one-year deals, signing Charlie Morton ($15MM), Tomoyuki Sugano ($13MM), Andrew Kittredge ($10MM), Gary Sanchez ($8.5MM), Ramon Laureano ($4MM) and Dylan Carlson ($975K) for the 2025 season. Outfielder Tyler O’Neill was the lone recipient of a multi-year guarantee, landing three years and $49.5MM. Even that deal came with an opt-out opportunity following the 2025 season.

O’Neill was not only the lone multi-year free agent signing for the Orioles last winter — he’s the only free agent Elias has signed to a multi-year deal in seven offseasons leading Baltimore’s baseball operations. For much of that time, the team has been rebuilding, which helps to explain the lack of a multi-year investment. Elias told Darragh McDonald in a recent guest appearance on the MLBTR Podcast that there’s no organizational aversion to multi-year free agent deals, they simply haven’t lined up on one during his tenure.

At least based on his early comments, Elias seems more resolute in his efforts to pursue higher-end talent. The O’s have a pair of notable arms in Kyle Bradish and the resurgent Trevor Rogers atop their rotation, but Rogers is a free agent next winter and Bradish only returned from Tommy John surgery this past summer. Voicing a preference to sign someone who can pitch in the “front half” of the rotation and expressing a willingness to punt draft picks both signal a more aggressive playbook this winter.

On the free agent side of things, the market has several interesting names. Dylan Cease, Framber Valdez, Ranger Suarez, Michael King, Brandon Woodruff and Zac Gallen all received qualifying offers. None are expected to accept. NPB star Tatsuya Imai will also be posted for MLB clubs, adding a 28-year-old wild card to the mix. Notably, Elias was the Astros’ scouting director when the team signed Valdez as an amateur in 2016. The two overlapped in Houston’s organization for a couple years.

On the trade side of the coin, there are a number of high-profile arms likely to be available. Much as it pains fans of pitching-hungry clubs, there’s minimal chance the Tigers will trade Tarik Skubal. The Brewers seem inclined to hang onto Freddy Peralta. Twins president Derek Falvey has said he plans to add to the roster until he’s told otherwise, which casts some doubt on the immediate availability of Joe Ryan and/or Pablo Lopez. But the market still includes names like MacKenzie Gore, Sonny Gray, Sandy Alcantara, Edward Cabrera and Mitch Keller, among others.

Broadly speaking, whether it’s via free agency or trade, there’s benefit in the Orioles adding a starter who’s controlled/signed beyond 2026. Rogers, as mentioned, is a free agent next winter. Righties Dean Kremer and Tyler Wells will be free agents after the 2027 season. There’s little doubting the pure talent of righty Grayson Rodriguez, but by the time Opening Day 2026 rolls around, he’ll be 20 months removed from pitching in a big league game. There’s very little long-term stability in the group.

As for the relief market, the number of qualified free agents is far lower. Devin Williams didn’t receive a QO from the Yankees. Robert Suarez didn’t get one from the Padres. Edwin Diaz was the only reliever tagged with a QO. That said, there are a number of a high-profile names from which to choose. Diaz, Suarez, Williams, Ryan Helsley, Raisel Iglesias, Kyle Finnegan and Pete Fairbanks all have extensive closing experience in the majors. If the preference is a one-year deal, 38-year-old Kenley Jansen keeps getting the job done even as he inches closer to his 40th birthday.

Whoever ends up emerging as the priority, payroll shouldn’t be an issue. The only players guaranteed anything beyond the 2026 season are O’Neill and catcher Samuel Basallo, who inked a long-term extension just days after making his MLB debut. They’re owed a combined $17.5MM in 2027. After ’27, Basallo’s eight-year, $67MM deal is the only contract on the books. It’d be a surprise to see the Orioles sign a high-end starter and a prominent reliever to multi-year deals, but only because they haven’t operated that way in quite some time. Payroll-wise, there’s no reason they couldn’t bring in a pair of prominent free agents.

Elias also suggested that the O’s will be on the lookout for an additional option in center field. While he praised Colton Cowser’s long-term outlook and expressed confidence that the 25-year-old (26 next March) can handle the position defensively, Baltimore’s president also noted that “you can’t get through the year with one center fielder.”

A reunion with Cedric Mullins seems unlikely, as he’ll presumably want everyday at-bats (or close to it) wherever he goes, while the O’s have O’Neill, Cowser and Dylan Beavers already in the mix for playing time, to say nothing of recently signed Leody Taveras and former top prospect Heston Kjerstad. Enrique Bradfield Jr., the No. 17 overall pick in 2023 and one of the system’s top prospects, reached Triple-A last year and could debut in 2026.

Part-time center field options on the market could include Lane Thomas, Harrison Bader or Chas McCormick, whom Elias drafted with the Astros back in 2017. Trade possibilities could include Arizona’s Alek Thomas or Colorado’s Brenton Doyle. If Twins ownership winds up pushing the front office to further scale back payroll, then not only would Lopez and Ryan be available — Byron Buxton may even be amenable to waiving his no-trade clause.

As always, this is far from an exhaustive list of targets for the Orioles or possibilities to fill those needs. In all likelihood, the O’s will be looking for multiple relievers, additional bench pieces and ample minor league depth in both the rotation and bullpen (at the very least). There’s been some suggestion that they could pursue a more prominent bat to hit in the middle of the lineup. The New York Post’s Jon Heyman called them a dark horse for Pete Alonso, noting that there’s “some interest” from the O’s. Be that as it may, it’d be a surprise if they did anything more than lurk on the periphery of his market to offer a soft landing if Alonso again struggles to find a long-term deal this winter.

Mets Interested In Cody Bellinger

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The Mets have interest in free agent Cody Bellinger, reports Jon Heyman of The New York Post. Heyman also downplays the possibility of the Dodgers making a strong run at free agent Edwin Díaz, which he suggests could be good for the Mets.

Bellinger would fit well with the Mets, given the current roster makeup. Center field was a big hole in 2025. Jose Siri spent most of the season on the injured list. He was outrighted off the roster in September and later became a free agent. Tyrone Taylor’s performance was lacking. The club tried to address the situation by acquiring Cedric Mullins at the deadline but he struggled to the end of the season and then became a free agent.

There is the possibility of an internal solution to the problem. Taylor is still on the roster. President of baseball operations David Stearns also tells Joel Sherman of The New York Post that Carson Benge will have a chance to make the team out of camp next year.

Benge was the club’s first-round pick, taken 19th overall, in the 2024 draft. In 2025, he hit his way through High-A and Double-A. In 416 plate appearances across those two levels, he drew a walk in 14.2% of them while only striking out at a 17.5% clip. He produced a .308/.413/.513 line and 174 wRC+. He got bumped up to Triple-A in mid-August. He slashed just .178/.272/.311 at that level but in a tiny sample of 103 plate appearances with a .188 batting average on balls in play.

Ideally, he would have some Triple-A success before cracking the majors but it seems the Mets aren’t dimming his stock based on that fluky end to a strong season. He played all three outfield spots but the Mets have Juan Soto and Brandon Nimmo in the corners. If March rolls around and Benge is the best center field option, perhaps he will get the job. They likely can’t bank on that, however. Benge is still fairly inexperienced and won’t be eligible for the Rule 5 draft until after the 2027 season, so they don’t need to put him on the 40-man until he earns it.

Signing Bellinger would give them a strong Plan A. Bellinger hasn’t been an everyday center fielder for a few years but the plan would presumably be for him to move off that position whenever Benge forces the issue. Even if that doesn’t happen by Opening Day 2026, it could happen during the campaign. Bellinger could then move to a corner, with the designated hitter spot used in a rotation between himself, Soto and Nimmo. It’s also possible that Bellinger could end up at first base, depending on what happens with Pete Alonso.

Bellinger is heading to free agency for the third time but he should have far more earning power than in the first two trips. He was non-tendered by the Dodgers after 2022, his second straight dismal season on the heels of a shoulder injury. He secured a one-year, $17.5MM deal with the Cubs and bounced back with a strong season before heading to free agency for a second time. His market wasn’t strong, seemingly due to the memories of his poor 2021 and 2022 seasons still being fresh. He returned to the Cubs on a three-year, $80MM deal with opt-outs after each season.

His 2024 wasn’t quite as strong as his 2023 campaign, so he decided to skip his first opt-out chance. He was traded to the Yankees and then had a really strong performance in 2025. He hit 29 home runs, slashed .272/.334/.480 for a 125 wRC+ and got strong grades for his glovework, playing all three outfield spots and a bit of first. There were some flags under there, as he seemingly benefited from the short porch at Yankee Stadium. He had a 152 wRC+ at home and 97 on the road. Still, he made the easy decision to walk away from his $25MM salary in 2026, taking the $5MM buyout instead.

MLBTR predicted Bellinger to secure a five-year, $140MM deal this time. The Mets are one of the top-spending clubs in the league and could certainly make that happen if they wanted to, though Bellinger will have interest elsewhere, including from the Yankees.

At the end of the season, Stearns spoke of a desire to improve the Mets’ run prevention, per Tim Britton of The Athletic. Perhaps that would suggest Bellinger would be a better fit than bringing back Alonso, as the Polar Bear is not a great defender. Rostering both is theoretically possible but a bit clunky, as it closes off the possibility of Bellinger moving to first once Benge takes over center.

Turning to Díaz, he is the top reliever available this winter. The last time he was headed to free agency, the Mets signed him before he got there. It was a five-year, $102MM pact with an opt-out after three seasons. A major knee injury wiped out 2023 for Díaz but he bounced back in the two subsequent seasons. He just posted a 1.63 earned run average. His 38% strikeout rate wasn’t quite as gaudy as his 50% mark in 2022 but it was still very good. He triggered his opt out and is now a free agent for the first time.

Any club would be interested in adding him but he’s likely going to command another hefty deal. That puts clubs like the Dodgers in play, though Heyman’s suggestion that they aren’t likely to be aggressive with Díaz could help the Mets. That doesn’t mean he will be cheap, however. Ken Rosenthal and Will Sammon of The Athletic reports that Díaz is looking to get roughly the same deal he got last time.

That’s a bit of a tall ask. Díaz is still quite good but he’s turning 32 in March. As mentioned, his strikeout rate is still very strong but not quite as insane as it was a few years ago. MLBTR predicted him for $82MM over four years this time, roughly the same average annual value as his last deal but on a shorter term since he’s now three years older. Time will tell if he can match his previous pact but it should be a notable deal either way.

The Mets issued him a qualifying offer, which he will decline. The Mets presumably want to bring Díaz back but Stearns has generally opted for shorter-term commitments to pitchers since he took over the front office. If he lets Díaz sign elsewhere, it would hurt the bullpen but the Mets would receive a compensatory draft pick.

Photo courtesy of Kevin Sousa, Imagn Images

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