Yankees Continue Talks With Blake Snell
As Blake Snell continues to linger in free agency, speculation regarding him and the Yankees persists. The Yanks reportedly offered the lefty five years and $150MM before pivoting to sign Marcus Stroman on a two-year deal last month. Since then, it’s been reported that the Yankees still have an offer out to Snell, though the shape of that offer is presumably different after signing Stroman and pushing themselves into the top tier of luxury-tax penalization in the process. Whatever is presently on the table doesn’t appear to be a “take it or leave it” type of offer, as the New York Post’s Jon Heyman writes that the Yankees and Snell talked about various contract parameters as recently as yesterday.
Notably, Heyman writes that agent Scott Boras has suggested the possibility of a shorter-term deal with higher annual salaries and opt-out opportunities. That’d be a pivot from Snell seeking maximum guarantees, as has been the case throughout the winter. It’s also not a concept that works well with a team in the Yankees’ situation.
The Yankees are a third-time luxury tax payor who are in the top tier of penalization. Any additional spending at this point will be taxed at 110%. And since the luxury tax is based on a contract’s average annual value, there’s no skirting the issue by backloading a deal. In that sense, dialing up the contract’s AAV only further penalizes the Yankees. The taxes are only part of the issue. New York would also be forfeiting its second- and fifth-highest draft selections, as well as $1MM from next year’s international bonus pool, in order to sign Snell, who rejected a qualifying offer from the Padres.
A longer-term pact that stretches out an agreed-upon guarantee while weighing down the AAV would be more sensible. The Yankees took that approach with DJ LeMahieu in free agency a couple years back, when he inked a six-year deal at a time when a contract around four years was widely expected. There’s no indication such an arrangement is currently being discussed, however, and going longer term on Snell would present the Yankees with its own slate of worrying factors. New York already has Gerrit Cole, Aaron Judge, Carlos Rodon and Giancarlo Stanton under contract through the 2027 season. Each of Cole, Rodon and Judge are on the books through 2028, giving the Yankees $103MM in guaranteed money on the books in a season that’s still four years down the road. Add in the $10MM buyout on Stanton’s 2028 option, and that’s $113MM of considerations for that season.
Furthermore, they’ll very likely wind up tacking an extra year onto Cole’s contract this coming offseason. The reigning AL Cy Young winner has an opt-out in his contract after the ’24 season, but the Yankees can void that by picking up a 2029 club option at $36MM. That’d give the Yanks $76MM on the books as far down the line as 2029; adding Snell on a long-term deal designed to tamp down his contract’s AAV could push them close to or even north of $100MM in commitments a half-decade from the current season. Not only that, but Judge will be 37 that year and Cole will be 38. Snell would be 36. It’d be plenty understandable if the Yankees have some trepidation about locking in $100MM+ in guarantees to three players who’ll be 36 or older in 2029.
Heyman also notes that the Yankees have some interest in fellow lefty and fellow unsigned Boras client Jordan Montgomery, whom they of course originally drafted and developed. However, the Yankees prefer Snell, and the financial hurdles just laid out regarding Snell applies to Montgomery — but on a slightly smaller scale, as he doesn’t have quite the earning power of a two-time Cy Young winner.
Red Sox, Montgomery Had Zoom Meeting Before Start Of Spring Training
The Red Sox have been tied to Jordan Montgomery for the bulk of the offseason. Reporting last week indicated the Sox remained interested in the left-hander but continued to wait for his asking price to drop.
ESPN’s Buster Olney tweeted this morning that the Red Sox had “recently” conducted a Zoom meeting with Montgomery. Manager Alex Cora confirmed to the Boston beat the meeting took place but indicated it happened before the beginning of Spring Training.
“Buster is right,” Cora said (link via Christopher Smith and Sean McAdam of MassLive). “We zoomed with him. But we’ve been zooming with a lot of people throughout the offseason. I’m not going to get into specifics but yeah, it’s part of the process. It was a while ago, too. I was in South Beach for that one. I was in Miami.” Smith and McAdam point out that Cora was in Miami on the weekend of February 9-11 to watch the end of the Caribbean series and take part in a University of Miami alumni event.
Clearly, that conversation didn’t result in an immediate agreement. With Montgomery still on the market two and a half weeks later, the Sox remain a logical fit. They haven’t markedly upgraded their rotation throughout the winter. Boston took a flier on Lucas Giolito before shipping out Chris Sale for second baseman Vaughn Grissom.
They’re currently set to enter the season with a front four of Giolito, Brayan Bello, Nick Pivetta and Kutter Crawford. Righties Tanner Houck, Garrett Whitlock and Josh Winckowski would battle for the final spot. Installing Montgomery atop the group would allow Boston to keep the latter three arms in multi-inning relief roles to begin the year.
[Related: Where Does The Market Stand For Jordan Montgomery?]
The question is whether his asking price will fall to a level with which the Red Sox are comfortable. CEO Sam Kennedy sam last month the Sox anticipated opening the season with a lower payroll than they had in 2023. Roster Resource calculates their 2024 CBT number around $202MM. That’s nowhere near the $237MM base threshold and around $23MM shy of last year’s estimated mark. Signing Montgomery wouldn’t push the Sox into CBT territory, but it would likely push them close to their 2023 spending range.
One of the “Boras Four,” Cody Bellinger, came off the market over the weekend on a three-year deal. The $80MM guarantee was nowhere near what his camp had sought early in the offseason. A reported ask above $200MM never materialized, leaving Bellinger to settle for a modified pillow contract that could allow him to retest free agency via opt-outs in either of the next two offseasons.
That kind of contract might not be as appealing to Montgomery. He recently turned 31 and was ineligible for the qualifying offer this offseason thanks to the midseason trade sending him from St. Louis to Texas. If he took an opt-out laden deal, he could have to wrestle with draft compensation in a future offseason. Montgomery is coming off a third straight year in which he reached 30 starts. He tossed a personal-high 188 2/3 innings with a 3.20 ERA that was the best mark of his career. He added 31 innings of 2.90 ERA ball over six postseason outings to help the Rangers to the first title in franchise history.
Latest On Red Sox, Jordan Montgomery
The end of February is now less than a week away and Spring Training games have begun, yet plenty of significant free agents remain unsigned. As long as they linger on the open market, they will continue to be the subject of discussion. That’s particularly true of the “Boras Four,” which is formed by Blake Snell, Jordan Montgomery, Cody Bellinger and Matt Chapman, all of whom are represented by the Boras Corporation.
The Red Sox have been loosely tied to Montgomery throughout the offseason and that connection was addressed this morning by both Rod Bradford of WEEI and Sean McAdam of MassLive. Bradford reports that the club appears to prefer Montgomery to other available free agents but it is still waiting for the price to come down. McAdam frames it similarly, noting that the club has stayed in contact with Scott Boras “as a matter of course.” McAdam also suggests the Sox could fit Montgomery into their budget if his asking price drops, but he also points out that several other clubs would jump into the fray at that point. At any rate, it seems to be a moot point for now since McAdam relays that the asking price has not dropped.
The fit between the two sides is a sensible one in some ways. Montgomery’s wife is doing a residency at a Boston hospital and there would surely be some appeal to the convenience of working in the same city for much of the year. But beyond that, the club has been searching for starting pitching all winter and hasn’t really found it. They did sign Lucas Giolito but also traded away Chris Sale, leaving them roughly where they started. One might argue that Giolito is an upgrade on Sale but that substitution doesn’t address the overall depth.
The Red Sox have also been quieter than some other traditional big spenders. While clubs like the Yankees and Dodgers are well beyond the fourth and final luxury tax tier, the Sox aren’t even above the lowest threshold of $237MM. Boston’s competitive balance tax figure is at $202MM, per Roster Resource, which gives them plenty of room to theoretically make a big splash and still avoid the tax. Some other clubs like the Padres, Rangers, Mariners and Twins seem to be operating with diminished spending capacity this winter due to uncertainty in their TV revenue situations.
All that could perhaps put the Red Sox in a position to strike, but there are also reasons to suspect it won’t happen. The club’s president Sam Kennedy was recently present as Spring Training facilities and spoke to the media, with Christopher Smith of MassLive relaying some video. “We have set parameters for him,” Kennedy said in response to a question about whether chief baseball officer Craig Breslow has a hard budget. “He’s operating under those parameters.” He declined to elaborate with specifics.
All teams have budgets but there can sometimes be a point where opportunities push a club to alter their plans. Both the club and Boras appear to be holding their positions for now and time will tell whether one side blinks or if the staredown leads to Montgomery signing elsewhere.
It’s possible something will happen to get things moving, but the Sox might proceed into the season with their current rotation mix. Last month, Breslow said the rotation consists of Giolito, Brayan Bello, Kutter Crawford and Nick Pivetta. That would leave Garrett Whitlock, Tanner Houck and Josh Winckowski as options for the final spot.
Giolito has plenty of success in his career but his earned run average has finished just below 5.00 in each of the past two seasons. Bello and Crawford each have just over 200 major league innings under their belts. Pivetta’s 2023 finished strong but he was bumped to the bullpen for a time due to some shaky results. The latter three worked both as starters and relievers in their careers and are still trying to establish themselves as legitimate rotation options.
There’s plenty of uncertainty in that mix and an addition would make sense if the Sox are willing to add some money to the payroll. In addition to Snell and Montgomery, the free agent market still features Michael Lorenzen, Mike Clevinger, Rich Hill, Zack Greinke and others. In addition to the Sox, Montgomery has received reported interest from clubs like the Angels and Giants, with other clubs making logical sense. MLBTR predicted him for a six-year, $150MM deal coming into the winter but his continued stay in free agency suggests that he hasn’t had offers in that vicinity and the chances of him getting there will likely drop as time goes on.
Which Of The Boras Four Will Be The First To Sign?
Spring Training games got underway yesterday. The regular season opens in less than a month. Offseason activity is far from over, though, largely on account of the so-called “Boras Four.” Blake Snell, Cody Bellinger, Jordan Montgomery and Matt Chapman remain unsigned.
Over the past couple weeks, a handful of teams have indirectly suggested they weren’t going to be suitors for the top free agents. High-level executives with the Giants, Rangers, Nationals, Mariners and Twins have downplayed the chance of a free agent strike of note. Angels owner Arte Moreno has suggested payroll is coming down, while Blue Jays GM Ross Atkins indicated they could have to move money if they’re to make another significant acquisition. Others, like the Red Sox and Cubs, appear to be in a holding pattern as they try to wait out the market.
Perhaps there’s some element of public posturing from a few of those teams. If any of these players are close to an agreement, though, there hasn’t been much indication of that. Unsubstantiated reports suggested the Yankees were closing in on a deal with Snell earlier this week, but both SNY’s Andy Martino and Bryan Hoch of MLB.com confirmed there hasn’t been any recent movement on that front.
If the number of plausible suitors for any of this group has dwindled, perhaps a Spring Training injury can change the calculus. The Orioles revealed early in camp that #2 starter Kyle Bradish has a UCL injury that’ll send him to the injured list. Mets staff ace Kodai Senga was diagnosed with a posterior capsule strain in his throwing shoulder yesterday; he’ll also start the year on the shelf. President of baseball operations David Stearns shot down the idea that’d increase the urgency for the Mets to go outside the organization for rotation help.
Again, it’s possible that’s designed not to publicly concede leverage in talks with the Boras Corporation if the Mets did circle back on Snell or Montgomery. To this point, there’s no indication any of these players have meaningfully moved off asking prices from the early part of the offseason. Will that change, or will one of these teams push beyond their comfort zone and reward any of these players’ patience?
Whose market with thaw most quickly? Which of the Boras four is going to be the first to agree to terms? Will any of this group linger in free agency beyond Opening Day?
Who Will Be The First To Sign?
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Blake Snell. 30% (4,441)
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Jordan Montgomery. 30% (4,434)
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Matt Chapman. 21% (3,121)
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Cody Bellinger. 18% (2,691)
Total votes: 14,687
How Many Of The Boras Four Will Sign After Opening Day?
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2 33% (3,960)
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1 19% (2,236)
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3 14% (1,603)
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4 13% (1,503)
Total votes: 11,841
Pohlad: Twins “Not In The Market” For Top Remaining Free Agents
As the baseball world collectively wonders where top-tier free agents like Cody Bellinger, Blake Snell, Jordan Montgomery and Matt Chapman will sign, it seems scarcely a day goes by without at least one team effectively proclaiming itself to be out of that market. The Rangers, Blue Jays, Angels, Giants, Nationals and Mariners have all seen a top baseball ops executive or ownership representative cast doubt on their ability and/or willingness to make further free agent additions of note. Add the Twins to that growing list, as owner Joe Pohlad said in an appearance with WCCO radio’s Jason DeRusha today that his club isn’t likely to make a significant late splash like they did when signing Carlos Correa a couple offseasons ago (audio link).
“…We’re not going to go out and spend $30MM on a player right now,” Pohlad plainly stated without mentioning any of Bellinger, Snell, Montgomery or Chapman by name. “The players that are out there right now that probably a bunch of fans are talking about, we are not in the market for those players.”
Minnesota never looked like a good fit for either of the position players — particularly Chapman — but the Twins are known to be looking for rotation help after seeing Sonny Gray, Kenta Maeda and Tyler Mahle depart as free agents. A late deal with Snell or Montgomery would’ve registered as something of a surprise, given the organization’s candid acknowledgment of plans to reduce payroll amid television uncertainty this winter, but their late entry into the Correa market a couple winters ago might’ve left some to wonder whether a similar approach could be in the offing here. Joel Sherman of the New York Post wrote just yesterday that he “would not discount the Twins as a wild card” for the remaining starters, but Pohlad’s comments today strongly suggest otherwise.
The Twins said early this winter that payroll would likely take a step back, and at the time, Dan Hayes of The Athletic reported a rough target of $125-140MM. Minnesota currently sits just south of that number, at a projected $123.5MM per Roster Resource. It should be noted that Pohlad did not rule out any subsequent additions at all — rather just a big play at the top end of the market.
“…There are definitely other players that can have a positive impact on our team that [president of baseball operations Derek Falvey], I’m sure, is looking at,” Pohlad added.
The Twins, for instance, have reportedly expressed interest in unsigned players like Michael Lorenzen, Adam Duvall and Michael A. Taylor. Signing one or even two of those names would cost considerably less than a run at Montgomery or Snell. They also watched old friend Jake Odorizzi‘s recent workout for teams. Falvey and his staff have also never been ones to shy away from trades late in the offseason. Deals to acquire Pablo Lopez (Jan. 23) and Odorizzi (Feb. 17) were both completed well after the New Year in their respective offseasons. The acquisition of Chris Paddack and Emilio Pagan came on the eve of Opening Day in 2022. It remains possible that some pitching or right-handed-hitting outfield help could be acquired via that market.
Generally speaking, it’s been a quiet offseason for the Twins. They shipped stalwart infielder Jorge Polanco to the Mariners late last month in a deal netting right-handers Justin Topa and Anthony DeSclafani and prospects Gabriel Gonzalez and Darren Bowen. Minnesota netted about $6.5MM in that deal as well and reinvested that money in free agent deals to sign Carlos Santana and Jay Jackson. More recently, they flipped utilityman Nick Gordon to the Marlins for lefty reliever Steven Okert.
Angels Hoping To Add To Rotation
The Angels are looking to add to their rotation and have been “mulling” whether to make a run at Blake Snell or Jordan Montgomery, reports Jon Heyman of The New York Post, though Heyman adds that they’re more likely to go after a back-end guy like Michael Lorenzen. The club has been loosely tied to Snell and Montgomery earlier in the offseason but without anything seeming close or particularly viable.
The club’s current rotation projects to be fronted by some combination Reid Detmers, Patrick Sandoval, Tyler Anderson and Griffin Canning. Options for the fifth spot include Chase Silseth, José Suarez and Zach Plesac. That competition also would have had Sam Bachman in it, but Jeff Fletcher of the Orange County Register reports that Bachman had arthroscopic surgery last fall and won’t be ready for Opening Day.
That rotation mix has talent but plenty of question marks. Detmers had a 3.77 ERA in 2022 but it jumped to 4.48 last year. Sandoval went from 2.91 to 4.11 while Anderson jumped from 2.57 to 5.43. Canning was healthy enough to get to 127 innings pitched last year but that was a new high for him, thanks to injuries and the pandemic. Suarez missed most of last year due to a shoulder strain. Silseth has just 81 innings of MLB experience and only 45 2/3 at Triple-A. Plesac’s ERA shot up to 7.59 with the Guardians last year. There was some bad luck in there but he was nonetheless passed through waivers and outrighted off the roster.
Given those question marks and the inevitable pitcher injuries that arise in a long baseball season, there’s plenty of logic in adding to that group. A run at Snell or Montgomery would be interesting, as there are reasons to doubt the possibility. MLBTR’s Contract Tracker shows that the largest contract the Angels have given a starting pitching since the start of 2012 is the three years and $39MM they gave Anderson. That historical lack of spending on starting pitching and owner Arte Moreno’s recent comments about operating with a lower payroll this year would make it surprising to see the Angels suddenly splurge on Snell or Montgomery.
Even with a lower payroll, it’s possible they have some powder dry. They opened last year with an Opening Day payroll of $212MM, per Cot’s Baseball Contracts, and also flirted with the luxury tax line. This year, Roster Resource pegs them at $173MM, almost $40MM below where they were a year ago. Their CBT number of $188MM is almost $50MM below this year’s $237MM threshold. That could leave some wiggle room for them to make a notable signing while still having lowered their spending slightly.
Coming into the offseason, MLBTR predicted Snell for $200MM over seven years and Montgomery for $150MM over six. The fact they are still on the open market in mid-February suggests they may be having difficulty getting into that range, so perhaps there’s an opportunity for the Angels to make something work, despite their past resistance to long-term deals for starters.
Either would immediately become the best pitcher on the staff, if added. Snell is coming off his second career Cy Young victory, posting a 2.25 ERA with the Padres last year. He’s had his ups and downs but is obviously one of the best in the league when he’s throwing well. Montgomery has continued to build his innings totals and lower his ERA since returning from Tommy John surgery. He tossed 44 innings in 2020 with a 5.11 ERA, then got to 157 1/3 frames with a 3.83 ERA in 2021. He followed that up with 178 1/3 innings of 3.48 ERA ball and then 188 2/3 innings with a 3.20 ERA last year, then adding another 31 postseason frames with a 2.90 ERA.
But signing someone like Lorenzen would be more the Angels’ style and they have, in fact, done it before. After years of being pushed to the bullpen by the Reds, the Halos gave Lorenzen a one-year, $6.75MM deal and let him try starting in 2022. It went reasonably well, as he made 18 starts and logged 97 2/3 innings with a 4.24 ERA.
He was able to parlay that into a one-year, $8.5MM deal with the Tigers and pushed himself even farther in terms of workload and results. He had a 3.58 ERA in 105 2/3 innings with Detroit before getting flipped to the Phillies. He made two excellent starts for his new club, the latter being a no-hitter, but seemed to run out of gas after that. After completing his no-hitter, he was sitting on a 3.23 ERA through 122 2/3 innings on the year. He was lit up the rest of the way and finished the season with an ERA of 4.18, but it seems possible that was a result of him pushing his innings tally into new territory.
MLBTR predicted he could secure a two-year, $22MM deal this offseason. He remains unsigned and is arguably the best starter in free agency apart from Snell and Montgomery. Unless the Angels plan to make a pivot and open themselves up to the idea of a mega deal for a pitcher, Lorenzen would be their best path to solidifying the rotation. Other notable remaining free agent starters are Mike Clevinger, Hyun Jin Ryu, Eric Lauer, Noah Syndergaard, Rich Hill, Zack Greinke and Johnny Cueto.
Where Does The Market Stand For Jordan Montgomery?
Jordan Montgomery’s market took a hit yesterday when Rangers general manager Chris Young threw cold water on the possibility of more acquisitions before Opening Day. “I don’t think there are any additions coming at this point,” Young told reporters, citing the organization’s diminished local broadcasting revenues on their contract with Diamond Sports Group.
While Young noted the team will “keep an open mind,” it’s clear the organization isn’t anticipating a significant splash. That’s something Young implied as far back as late November and has been supported by reporting from Evan Grant of the Dallas Morning News, who has suggested throughout the offseason that the team was unlikely to bring Montgomery back.
Nevertheless, there’d been chatter throughout the winter that the left-hander preferred to stay in Arlington and was hopeful of working out a deal once the Rangers finalized their TV contract to remain on Bally Sports for the upcoming season. While their 2024 TV deal was approved last week, Young’s comments from yesterday indicate it doesn’t meaningfully change the organization’s spending outlook.
That shouldn’t be surprising. Throughout the offseason, the Rangers have likely had an idea of the reduced rights fees they’d need to accept if they wanted to keep their deal with Diamond for another year. More meaningfully, there’s still legitimate concern throughout MLB about the local broadcasting arrangement’s viability for 2025 and beyond.
If the Rangers are out of the market, where do things stand for Montgomery six weeks before Opening Day?
Teams With Reported Interest
Angels
The Angels have been loosely tied to both Montgomery and Blake Snell. They explored trade possibilities for a top-of-the-rotation arm during the Winter Meetings and came away empty-handed. After flirting with the competitive balance tax in 2023, their CBT payroll sits almost $50MM below the threshold for the upcoming season. The Halos seem like one of the top suitors for Snell or Montgomery on paper. That’s clouded by an ownership group that frequently pursues puzzling half-measures.
Owner Arte Moreno told Jeff Fletcher of the Orange County Register yesterday that he was “(setting) the budget lower” for the upcoming season. “I’m not going to spend money just to show that we’re going to spend money unless it’s going to substantially change the team,” he added. Perhaps Montgomery qualifies, and the Halos could sign him while remaining well below last year’s spending level, but those comments don’t portend a late-offseason spree.
Giants
At points this offseason, the Giants have been tied to all four of the remaining top free agents. Cody Bellinger is a tough fit after the Jung Hoo Lee signing. The other three (Snell, Montgomery and Matt Chapman) could all still be targets. Roster Resource projects the Giants around $213MM in luxury tax obligations. This year’s base threshold sits at $237MM. Adding Montgomery for somewhere in the $20-25MM range on an annual basis would push them right against that line. The Giants have paid the CBT three times in franchise history but haven’t gone over that line since 2017.
Red Sox
Aside from Texas, the Red Sox have probably been linked to Montgomery most often throughout the winter. Boston ownership has said they don’t anticipate matching last year’s spending. The Sox opened last season with a luxury tax number approaching $226MM. Roster Resource projects their CBT figure for the upcoming season around $198MM. Adding Montgomery would push them towards last year’s line but not all the way. It certainly wouldn’t require they surpass the $237MM mark. Alex Speier of the Boston Globe wrote this week that the Sox were keeping an eye on Montgomery’s market but suggested they’re unlikely to make a serious push unless the left-hander considers a short-term deal.
Big-Market Opportunists?
Mets
The Mets were loosely linked to Montgomery in the early days of the offseason. It doesn’t seem they showed serious interest. After their pursuit of top target Yoshinobu Yamamoto fell short, they pivoted to lower-cost fliers on Luis Severino and Sean Manaea and brought in Adrian Houser via trade. There’s still a case for the Mets to add Montgomery to the upper half of the rotation, but it’d come at a significant cost. The Mets are paying a 110% tax on all spending since they’re in the highest luxury tax bracket and surpassed the threshold in three consecutive seasons.
Phillies
USA Today’s Bob Nightengale wrote on February 4 that some executives throughout the industry believed Philadelphia could be a dark horse candidate for one of the top remaining free agents. MLB.com’s Todd Zolecki wrote last week that the Phils didn’t anticipate landing a marquee free agent unless their market collapsed. Zolecki indicated the Phillies would have interest in Montgomery if he took a deal in the three-year range or shorter. If the southpaw pivoted to that kind of proposal, it’d very likely bring in a number of suitors. Philadelphia already has a long-term commitment to Aaron Nola and is trying to keep Zack Wheeler beyond this year.
Yankees
The Yankees checked in with Montgomery early in the offseason. That shows they’re not categorically opposed to bringing him back after trading him at the 2022 deadline because they felt he wasn’t in line to start for them in the postseason. Montgomery threw a jab at the organization before helping Texas to a World Series, telling The Athletic’s Ken Rosenthal in early October that “(The Yankees) might have given up on me, but I think it was the best thing for me to get to the Cardinals and get set up with Mad Dog (pitching coach Mike Maddux, who went to the Rangers in 2023). Our pitching philosophies are much closer.”
That didn’t prevent the Yankees from checking back in with Montgomery early this offseason, although they clearly didn’t find his asking price palatable. New York subsequently signed Marcus Stroman but they traded Michael King and a host of depth starters in the Juan Soto deal. The Yankees are into the fourth tier of luxury penalization, so any signing would come with a 110% tax on top of whatever they owe the player.
Dark Horses
Orioles
Baltimore made their long-awaited consolidation trade for an ace last month. Even with Corbin Burnes in the fold, there was an argument for adding another high-end starter to put the finishing touch on an excellent roster. That was true before this morning, but the revelation that ostensible #2 starter Kyle Bradish has a UCL sprain and will begin the season on the injured list could add urgency. The O’s have a projected player payroll in the $96MM range. That’s nearly $40MM above where they started last season but is still a bottom five figure in MLB. With new ownership arriving in the coming weeks and a young core set up to compete throughout the decade, could Baltimore finally make a notable free agent strike under GM Mike Elias?
Cubs
Chicago signed Shota Imanaga to a four-year deal to join the rotation with Justin Steele, Kyle Hendricks and Jameson Taillon. Chicago has in-house options for the fifth spot — it looks like a battle between Jordan Wicks, Javier Assad and perhaps Hayden Wesneski — but Montgomery would be a clear upgrade. The Cubs are already above last year’s spending but remain almost $30MM shy of the tax line. It seems likelier that Chicago would pursue Bellinger or Chapman if they’re still exploring the top of the market, but it’s not entirely out of the question they make a run at another starter.
Twins
Minnesota is an extreme long shot, largely on account of their own TV revenue concern. The Twins have kept their payroll right around the $125MM mark all offseason. The Athletic’s Dan Hayes reported at the beginning of the winter that they were targeting the $125-140MM spending range, down from last year’s $154MM mark. Minnesota lost Sonny Gray and Kenta Maeda and has explored rotation additions, but they’re much likelier to add a low-cost arm in the Michael Lorenzen range.
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There aren’t many teams that clearly remain positioned to offer Montgomery a five- or six-year term at $25MM annually. MLBTR predicted a six-year, $150MM pact at the beginning of the offseason. Early reports suggested Montgomery wanted to beat the seven years and $172MM which Nola secured to remain in Philadelphia.
If he pivots to a shorter-term pact, that’d bring most of the teams mentioned above more firmly into play. Perhaps clubs like the Cardinals or the Rangers could also circle back. For a few reasons, however, Montgomery probably prefers to max out the guarantee this winter.
It’s hard to envision him elevating his free agent stock beyond where it currently sits. He’s coming off a career-best 3.20 ERA and was a key part of a World Series run. He’ll turn 32 next December, raising questions about how many prime years he’s still marketing. Teams’ concern about TV revenues could be just as strong next winter as they are now. Montgomery would also run the risk of being burdened by draft compensation if he returns to free agency in a year or two. The midseason trade sending him from St. Louis to Texas rendered him ineligible for the qualifying offer this time around. He may not be so lucky if he tries to give free agency another shot.
Young: Rangers Do Not Expect Further Additions
Rangers fans have been holding out hope for a reunion with left-hander Jordan Montgomery, but general manager Chris Young threw plenty of cold water on that possibility Wednesday, telling the team’s beat that any notable acquisitions are unlikely at this point (link via Evan Grant of the Dallas Morning News).
“I don’t think there are any additions coming at this point,” Young candidly stated. While he maintained that the Rangers will “keep an open mind” on free agents (including Montgomery), he also noted that long-term uncertainty regarding the team’s television contract “is real” and has impacted spending this offseason — even on the heels of a World Series win.
The lack of marquee additions has frustrated some fans who’ve grown accustomed to lavish free agent expenditures in recent years. The Rangers famously spent more than a half billion dollars to sign Corey Seager, Marcus Semien and Jon Gray two offseasons ago and followed that with a pitching-heavy attack in free agency last winter, signing Jacob deGrom, Nathan Eovaldi and Andrew Heaney for a combined $234MM. Texas also picked up two high-profile arms at last year’s deadline when acquiring Montgomery and future Hall of Famer Max Scherzer. Montgomery, of course, is a free agent and remains unsigned. Scherzer will be sidelined into June or July following offseason back surgery.
Currently, Roster Resource projects the Rangers for a franchise-record $220MM payroll. That comes with $243MM worth of luxury tax obligations, setting the stage for Texas to be a luxury payor for the second straight season. Texas only paid $1.8MM in luxury fees last year, but as a second-time payor they’ll face steeper penalties for eclipsing this year’s $237MM threshold.
Right now, sitting about $6MM over the first barrier, the Rangers are only on the hook for a 30% overage fee. They’ll pay roughly that same $1.8MM penalty if no further deals are made, but between small-scale signings, late trade acquisitions and/or in-season pickups near the trade deadline, that figure will likely rise.
The ostensible lack of willingness to meet Montgomery’s asking price in free agency has proved the greatest point of consternation among fans. Where that asking price stands at present isn’t clear, but it’s fair to expect that Montgomery and his reps at the Boras Corporation are still eyeing a nine-figure contract and an annual salary ranging from $20-25MM.
The Rangers, as second-time luxury payors, would be on the hook for a good bit more than that. They’d owe a 30% tax on the next $14MM worth of AAV (average annual value) added to their payroll and another 42.5% on subsequent spending. Just setting a speculative AAV of $23MM on Montgomery, that would position the Rangers to pay an additional $8.025MM in taxes on top of Montgomery’s salary. Texas could try to backload the deal or defer salary, but that would do nothing to change the luxury tax hit. In other words, depending on where exactly Montgomery’s AAV lands, he’d cost the Rangers something in the vicinity of an extra $7-9MM on top of what he’s earning.
That theoretical Montgomery signing would also make it far likelier that they’ll be third-time payors in 2025. A Montgomery deal would likely push Texas to around $170MM worth of luxury obligations in ’25, and that’s before factoring in arbitration raises for Nathaniel Lowe (earning $7.5MM this season), Jonah Heim ($3.05MM in ’23), Dane Dunning ($3.325MM in ’23), Leody Taveras ($2.55MM in ’23), Brock Burke ($1.035MM in ’23) and Josh Sborz ($1.025MM in ’23).
A conservative estimate for the Rangers’ 2025 arb class would clock in around $30MM, meaning with a theoretical Montgomery deal they’d be over $200MM in tax considerations before making a single addition to the 2025 roster. Long-term deals for core players like Adolis Garcia, Josh Jung, Evan Carter or even top prospect Wyatt Langford would only push that luxury number further north.
It’s fair to debate just how much Rangers ownership should fret over the luxury tax, of course. The team is still entering its fourth season (with fans) in a new stadium that provided a revenue boost, and last year’s World Series win provided ample additional revenue as well. Texas needn’t worry about sacrificing any draft value unless the team is more than $40MM over the threshold — the point at which a club’s top pick is dropped by 10 places in the following year’s draft. It’s unlikely they’d hit that level even if they were to re-sign Montgomery, and they’d be a long ways from that level next offseason as well, even with Montgomery on the books.
Still, every ownership group has its limits, and it seems the Rangers’ group has reached — or is at the very least approaching — its own limits for the upcoming season. If that’s indeed the case, Texas will rely on a patchwork starting staff in the season’s first half with an eye toward potential returns for deGrom, Scherzer and right-hander Tyler Mahle (who inked a two-year, $22MM deal earlier this winter) following the All-Star break.
At the moment, the Rangers’ rotation will likely include Eovaldi, Gray, Heaney, Dunning and left-hander Cody Bradford. Right-hander Yerry Rodriguez and non-roster invitees like Jose Ureña and Adrian Sampson could factor into the group as well. There are a handful of notable arms who could be signed to low-cost one-year deals, and the Rangers could continue stockpiling veterans on non-roster pacts, just as they’ve done with Ureña and Sampson — the latter of whom only signed yesterday.
More broadly, it’ll be a big year for the development of former touted prospects like Jack Leiter, Owen White and Cole Winn. All three are former top-60 draft picks — Leiter was selected second overall — who’ve ranked among the game’s top-100 prospects. However, all three struggled through ugly seasons in the upper minors in 2023 and have seen their stock drop amid those struggles.
Latest On Jordan Montgomery
Many Rangers fans have thought throughout the offseason that an eventual reunion with left-hander Jordan Montgomery made good sense and would represent the team’s big splash in free agency this winter. Reporting connecting the two sides has been sparse, however, outside of general speculation on the strength of the fit and the Rangers’ need for durable innings. Evan Grant of the Dallas Morning News casts even more doubt on the Rangers’ chances of re-signing Montgomery in his latest mailbag column.
Grant has written previously that a deal between the two sides doesn’t seem likely, though some Rangers fans might’ve hoped that the recent resolution of the team’s television situation for the 2024 season might bring about a long-awaited agreement. A deal still feels like a reach, Grant suggests, rightly pointing out that given the team’s current luxury tax status, Montgomery would likely cost the Rangers more than $30MM this season. Texas will be a second-time luxury payor this season and already has $243MM of projected luxury obligations, per Roster Resource. They’ll pay a 30% tax on any dollars up to $257MM, plus a 42% tax on the next $20MM they spend.
That outlook doesn’t necessarily mean the Rangers can’t bring in Montgomery under any circumstances, but the team has operated with a good bit of financial restraint throughout the winter. Signing Montgomery would mean pushing their 2025 contractual commitments to around $160MM a full year in advance and would give the Rangers well over $100MM in guarantees on the books as far out as 2027. (Currently, they have $94.5MM committed to the 2027 roster.)
Furthermore, WEEI’s Rob Bradford reports that the Rangers haven’t been “actively involved” in Montgomery’s market for some time now due to the lefty’s price tag. Again, that doesn’t close the door entirely, but it’s another indicator that a Rangers/Montgomery reunion is hardly the fait accompli that some have suggested it to be.
If not Texas, there are a handful of other teams that have been connected to Montgomery — the Giants, Angels, Yankees, Red Sox and Phillies among them. Jon Heyman of the New York Post writes that the Angels remain in contact with Montgomery and agent Scott Boras (who also reps Blake Snell). The Angels currently project for a $173MM payroll — about $40MM shy of last year’s franchise-record mark — and are nearly $50MM from the first luxury tax threshold. Owner Arte Moreno has historically avoided long-term deals for pitchers, however, and Heyman suggests he’s yet to green-light his front office on the addition of a pitcher of this caliber.
On the Phillies, specifically, USA Today’s Bob Nightengale wrote recently that several executives around the league suspect the Phillies may be waiting to see if the price point on any of the remaining top-tier free agents drops to the point where they can make an opportunistic addition.
That’s largely speculative from what seems like a series of non-Phillies sources, but it’s worth noting that Philadelphia president of baseball operations Dave Dombrowski at least alluded to something along those lines in a radio appearance on Wednesday. Dombrowski noted that he’s happy with his rotation and with his lineup but also wouldn’t definitively rule out making another addition if the circumstances become favorable enough: “I can’t tell you that somebody doesn’t fall into your lap at some point where you say, ’Gee, that’s an opportunity we can’t turn down,'” the Phillies’ president stated on 94 WIP.
As with the Rangers, the Phillies are projected luxury tax payors. They’re $5MM from the second threshold and, as a third-time payor, would pay a 50% tax on their next roughly $5MM and then 62% on the next $20MM after that. Signing Montgomery at a $25MM AAV, for instance, would cost the Phils $14.9MM in taxes (nearly $40MM in total for this season alone, assuming an even distribution of the yearly salaries in that theoretical scenario). Perhaps if Montgomery’s price drops and the Phillies begin to lose confidence in their ability to extend Zack Wheeler, that might begin to sound more palatable, but signing him would be a rather costly endeavor at the moment, given the team’s tax outlook.
Montgomery, 31, has made at least 30 starts in each of the past three seasons. In that time, he’s pitched 524 1/3 innings of 3.48 ERA ball with a 22.5% strikeout rate, a 6.2% walk rate, a 44.5% ground-ball rate and just 1.00 HR/9. His 2023 campaign was arguably the finest of his career, featuring a personal-best 188 2/3 innings of 3.20 ERA ball, plus another 31 innings of 2.90 ERA ball in the postseason — a strong performance that helped push the Rangers to their first-ever World Series title.
Dombrowski On Phillies’ Offseason, Wheeler, Rojas, Painter
Phillies president of baseball operations Dave Dombrowski joined the 94 WIP Morning show with Joe DeCamara and Jon Ritchie on Wednesday, touching on a broad-reaching number of Phillies topics (Audacy link to the entire 20-minute interview). It’s a good listen for fans of any club — Phils fans in particular, of course — wherein Philadelphia’s top decision-maker discusses his team’s relatively quiet offseason, the state of the rotation and the outfield, Zack Wheeler‘s future with the club, top prospect Andrew Painter‘s health and quite a bit more.
Among the more notable takeaways was Dombrowski’s reply when asked a potential late move for one of the remaining big-name starters on the board. Dombrowski didn’t comment on either Blake Snell or Jordan Montgomery by name but expressed that he’s content with the club’s rotation. As far back as early November, Dombrowski touted fifth starter Cristopher Sanchez as someone the team believes can be a big regular in the rotation, and his comments today mesh with that line of thinking. Dombrowski didn’t expressly rule out the addition of another starter but implied that the team wasn’t about to pay market rate for one of the remaining names out there.
“I can’t tell you that somebody doesn’t fall into your lap at some point where you say, ‘Gee, that’s an opportunity we can’t turn down,'” Dombrowski said. That suggests a willingness to remain open-minded to some late, unexpected drops in price but doesn’t sound like a portent for an aggressive pursuit of a top-tier free agent.
That said, there was at least one name the Phillies considered worthy of an exception: Yoshinobu Yamamoto. It’s already been reported that the Phillies were a legitimate suitor for the 25-year-old NPB ace before he signed a record deal with the Dodgers, and Dombrowski now confirms that his team was “very involved” in Yamamoto’s market. The veteran baseball ops leader went so far as to say that others might be “shocked” to learn how much money the Phillies ultimately offered — naturally, he declined to specify — before indicating that Yamamoto simply had a preference to be a Dodger. The Philadelphia Inquirer’s Scott Lauber reported last week that the Phils also made a 12-year offer, although it’s unclear if they were willing to match the $325MM guarantee which Yamamoto received from Los Angeles.
Obviously, any multi-year addition to the rotation could provide the Phillies with some insurance in the event that Wheeler departs as a free agent at season’s end. But Dombrowski called Wheeler “one of the best pitchers in baseball” and stressed that it’s “important” and a “priority” for the Phillies find a way to re-sign the right-hander.
Wheeler, 34 in May, has outperformed the five-year, $118MM contract he signed with the Phillies in the 2019-20 offseason. He’s garnered Cy Young consideration in three of his four Phillies seasons, highlighted by a second-place finish in 2021 and a sixth-place finish in 2023.
Over the past four seasons, he’s tied with Corbin Burnes for the fourth-most innings in Major League Baseball and leads MLB in FanGraphs’ wins above replacement. He’s notched a tidy 3.06 ERA despite typically playing in front of one of the game’s weakest defenses, thanks in large part to a sharp 26.7% strikeout rate and excellent 5.3% walk rate. A new contract for Wheeler would begin with his age-35 season, which caps his earning potential to an extent, but recent history has shown teams are willing to pay elite arms even at the late stages of their careers.
A look at MLBTR’s Contract Tracker highlights some recent examples of age-35 (or older) pitchers cashing in. Jacob deGrom signed a five-year deal with a $37MM annual value, while Max Scherzer and Justin Verlander both inked multi-year deals at a $43.333MM AAV. The AAV on Yu Darvish‘s extension, beginning in his age-37 season, is just $18MM — but that was a function of the Padres drawing out the term in order to drive down the annual salary for luxury-tax purposes. Darvish still secured a $90MM guarantee on that frontloaded deal and was two years older than Wheeler will be in year one of a theoretical free agent pact or extension. Suffice it to say, Wheeler will be the relatively rare big leaguer who has a chance at multiple nine-figure contracts in his career.
On the point of the team’s defense, Dombrowski cited that as a primary reason the team has not pursued additional outfield help with much aggression this spring. Young Johan Rojas dazzled with his defensive ratings (+15 Defensive Runs Saved, +6 Outs Above Average) in just 392 innings of center field work. Asked if Rojas will be the team’s primary center fielder this season, Dombrowski all but anointed the 23-year-old.
“Likely? Yes,” Dombrowski replied. “Definitively? No. We saw enough the last couple months in August and September that we liked what we saw. I’ve talked to our hitting people at length about his progress over the winter time. He’s worked extremely hard. He’s made adjustments that he needs to make. I’m not saying he’s going to come up and hit .300 with 20 home runs off the bat, but I think he can do enough offensively and contribute from an offensive perspective. And when you add his speed and his defense, all of a sudden he becomes a real plus for us. So yes, I do think he’ll be up, but he has to earn that, too. We’re not just going to give it to him.”
Even as he made those caveats, Dombrowski also spoke of the team’s desire to get Kyle Schwarber more time at designated hitter and to keep Bryce Harper at first base as a means of improving the defense (as opposed to the alternative scenario where Schwarber plays left field and Rhys Hoskins were re-signed to split time between DH and first base). Rojas’ bat looked impressive during his brief regular-season look, as he hit .302/.342/.430 in 164 plate appearances, but that was buoyed by an unsustainable .410 average on balls in play. His bat went ice cold in the playoffs, too, as Rojas fell into a woeful 4-for-43 swoon and struck out in a third of his plate appearances.
Despite the postseason struggles, it appears Rojas will have first crack at the regular center field job. The Phillies are generally thin in terms of outfield depth, and this afternoon’s DFA of Simon Muzziotti could add to that if he’s traded or claimed by another club. There’s perhaps the chance that the Phils could add a bench bat to the mix, and outfield would be a natural spot, given the lackluster offensive contributions of Jake Cave and limited track record of Cristian Pache.
Dombrowski acknowledged the possibility of adding a bench bat, simply noting “that might end up happening,” but he didn’t characterize it as a major item that’s yet to be checked off the to-do list. Speaking in general terms, the Phillies’ president again implied that between wanting to give Rojas a real chance and the veteran nature of much of his roster, free agents have seen greater opportunity for playing time with other clubs thus far. There’s still quite a few names yet unsigned, so it stands to reason that the Phils could eventually find a bargain addition to deepen the mix. Pache, Cave and utility infielder Edmundo Sosa are all out of options, however, so adding a player to the bench mix would likely mean jettisoning someone like Cave, who’s already agreed to a $1MM salary for the 2024 season. That isn’t likely to be a major roadblock to any further additions, but it’ll factor into the calculus all the same.
The Phillies will effectively return the same bullpen in 2024, though again, Dombrowski indicated it’s not necessarily for lack of trying. He noted that the team has been in on at least “a couple” of notable names but that one, in particular, took an opportunity to be a starting pitcher elsewhere. Another simply preferred to be closer to his home on the west coast. Again, Dombrowski didn’t mention names, though Jordan Hicks and Reynaldo Lopez stand out as two bullpen arms who surprisingly landed rotation opportunities in free agency (Hicks in San Francisco, Lopez in Atlanta). Hicks, in particular, was rumored to be on the Phillies’ radar as a free agent.
Starting pitching depth, too, has been a recent area the Phillies have been searching. They signed former Braves first-rounder Kolby Allard to a split big league deal last month due in no small part to the fact that he has a minor league option remaining. That same line of thinking surely influenced today’s claim of righty Max Castillo from the Red Sox.
The Phillies have top prospects Mick Abel and Griff McGarry working through the minor league system, and while both could make their debuts in 2024, neither has yet pitched even five innings above the Double-A level. Painter was a rotation candidate early last season but wound up going down with an elbow injury that ultimately required Tommy John surgery. Dombrowski said in this morning’s interview that Painter has begun “tossing” a ball recently and is on schedule but that the organization is “looking toward 2025” with regard to the prized righty and isn’t planning on him pitching in games this season. There’s always the possibility his recovery progresses more quickly than expected, but the 20-year-old right-hander doesn’t appear to be someone the Phillies are banking on for even a late-season cameo.