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Matt Strahm

Details On Matt Strahm Trade

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The Phillies traded lefty Matt Strahm to the Royals on Friday in exchange for righty reliever Jonathan Bowlan. Philadelphia has two other solid lefty relievers in Jose Alvarado and Tanner Banks, to say nothing of Jhoan Duran and the recently-signed Brad Keller from the right side. With a strong late-inning mix in those four, it made sense to clear Strahm’s $7.5MM salary for 2026 to help with other additions, such as a J.T. Realmuto reunion.

According to Matt Gelb of the Athletic, Strahm was outspoken in his opinions on how the bullpen and clubhouse were managed, which clashed with coaches and other team officials. Meanwhile, Phillies president of baseball operations Dave Dombrowski framed the matter as a more of a question of contractual control, telling reporters, “(Strahm is) a year away from free agency. We were able to get a guy that we liked who has six years of (club control) and we think can help us right away. So you have to give to get. And we still feel good with our left-handers in the bullpen.”

For his part, Strahm released a statement following the trade in which he spoke positively of the organization and of his now-former teammates. “It was an honor to wear this uniform alongside you and compete every day with a group that truly cared about winning and about each other,” said Strahm. “I’ll miss every single guy in that clubhouse. I’ve never experienced anything like it.” In any case, whether the trade resulted from tension with his teammates or with the coaching staff, the club felt it was the right time to move on.

Strahm came to the Phillies in December 2022 on a two-year, $15MM deal. In March 2024, the two sides agreed on a one-year extension for 2025 at a $7.5MM salary, which contained a $4.5MM club option for 2026. Strahm vested that option at a higher rate of $7.5MM by reaching 60 innings in 2025 (he finished with 62 1/3 innings over 66 appearances) and passing a physical in September. Indeed, while he was injury-prone during his years with the Royals, Padres, and Red Sox, Strahm was healthy from 2023-25 with the Phillies, avoiding the injured list entirely.

The combination of good health and performance made his $7.5MM annual salary an excellent value. In 212 2/3 innings across 188 appearances from 2023-25, Strahm had a 2.71 ERA and struck out 30.5% of hitters against a 6.2% walk rate. Excluding his 33 1/3 innings as a starter in 2023, his 2.46 ERA in 179 1/3 innings was 10th-best among qualified relievers, just ahead of Edwin Diaz and Josh Hader. His 24.1% K-BB rate as a reliever was 12th-best.

His 2025 was more of the same, if a slight step down from his All-Star 2024 season. He pitched to a 2.74 ERA while seeing his strikeout and walk numbers trend slightly in the wrong direction. He struck out 33.3% of hitters in 2024, though that slipped to 27.3% this year. That is still excellent, ranking in the 81st percentile according to Statcast. Similarly, his walk rate increased from 4.6% to 7.8% in 2025, which graded out in the 53rd percentile. Both of those metrics suggest that Strahm is still a capable high-leverage arm. That said, there were some signs of decline under the surface. His four-seam velocity dropped to 92.2 mph this year after sitting at 93.4 mph from 2023-24. His 21.2% groundball rate in 2025 was worst among qualified relievers, while his 59.0% flyball rate was third-worst.

Given these trends and the tension with the coaching staff, the Phillies may have simply been content to move on and enter 2026 with Alvarado and Banks as their lefty relievers. Meanwhile, Strahm will get a fresh start with the Royals, whose bullpen is quite strong heading into 2026. The additions of Strahm and outfielder Lane Thomas bring the club’s projected payroll to $150MM, up from $138MM in 2025, according to RosterResource.

Photo courtesy of Jayne Kamin-Oncea, Imagn Images

Royals Acquire Matt Strahm

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The Royals and Phillies announced a one-for-one reliever swap on Friday morning. Left-hander Matt Strahm heads to Kansas City with righty Jonathan Bowlan going to Philadelphia.

It’s a reunion for Strahm and the Royals, as Kansas City drafted the lefty in the 21st round of the 2012 draft. Strahm made his big league debut for the Royals in 2016 and spent parts of two seasons with the club before being shipped to the Padres in a six-player trade alongside Travis Wood and Esteury Ruiz in order to acquire Trevor Cahill, Brandon Maurer, and Ryan Buchter. Strahm had a career 3.81 ERA and 4.12 FIP in 56 2/3 innings at the time of the trade. He’ll now return to Kansas City nearly a decade later with more than 500 MLB innings and an All-Star appearance under his belt.

Much of Strahm’s tenure with the Padres was fraught with injuries and ineffectiveness, but a solid season with Boston back in 2022 convinced the Phillies to bring him into the fold. Since arriving in Philadelphia, the lefty has emerged as one of the league’s most effective relievers. He has a 2.71 ERA in 212 2/3 innings of work over the past three years with a 2.82 FIP and a 3.01 SIERA. That’s the eighth-most innings of any pitcher with ten starts or fewer over the past three seasons, and among qualified relievers his ERA ranks 10th, his FIP ranks 15th, and his SIERA ranks 21st.

That’s an elite combination of quality and quantity that virtually any bullpen would benefit from adding, and the Royals are no exception. Strahm figures to join closer Carlos Estevez and righty Lucas Erceg at the back of the Kansas City bullpen to create the best late-inning trio the Royals have had since the 2015 club’s “three-headed monster” of Greg Holland, Wade Davis, and Kelvin Herrera. With solid arms like Nick Mears, John Schreiber, and Daniel Lynch IV set to cover the middle innings, it’s not hard to imagine the Royals entering 2025 with one of the stronger top-to-bottom bullpens in the American League thanks to this trade. Mears just came over in the same trade that netted Isaac Collins for the Royals but sent lefty Angel Zerpa to the Brewers. Sending out Zerpa cut into Kansas City’s lefty relief group but they have quickly pivoted to Strahm to restock in that department.

The loss of Strahm will surely sting for the Phillies somewhat, but the club remains fairly well set up in terms of their late-inning mix. Jhoan Duran remains one of the league’s top closers, and the recently-acquired Brad Keller was one of the top setup men in the majors last year with the Cubs. From the left side, Jose Alvarado and Tanner Banks should form a quality duo, and Alvarado in particular has offered elite production in the past. Strahm’s name has long been in trade rumors this winter, and clearing his $7.5MM salary off the books could help the Phillies in the pursuit of a reunion with catcher J.T. Realmuto or help them to afford the addition of another outfielder, who could help contribute alongside Brandon Marsh, Adolis Garcia, and top prospect Justin Crawford.

Aside from the financial incentive to make the trade, the Phillies will also receive the services of Bowlan, a 29-year-old righty who made his big league debut in 2023 but just got his first extended look in the majors last year. Bowlan pitched quite well across 44 1/3 innings for Kansas City in 2025, posting a 3.86 ERA with a 3.97 FIP in that time. He struck out 25.6% of his opponents with a 9.4% walk rate and a solid 48.7% ground ball rate.

That ability to generate both strikeouts and grounders should make Bowlan an effective, low-cost addition to a Phillies pen that has plenty of solid options in the late innings but has plenty of spots still fairly unsettled. With less than one year of service time under his belt, Bowlan can be controlled through the end of the 2031 season, affording Philadelphia the opportunity to bring in an arm that could be part of their relief mix for years to come.

Robert Murray of FanSided first reported that Strahm was being traded to Kansas City. MLB.com’s Mark Feinsand had Bowlan going the other way.

Phillies Have Offer Out To J.T. Realmuto

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The Phillies secured a reunion with one of their key veteran free agents Tuesday morning when they signed Kyle Schwarber to a five-year deal, and now it appears their attention will return to their other veteran hitter who reached free agency last month. Philadelphia has an offer on the table for veteran catcher J.T. Realmuto, according to a report from Todd Zolecki of MLB.com. The details of that offer aren’t presently known, though The Athletic’s Matt Gelb adds that Realmuto is “expected” to ultimately return to Philadelphia in 2026 and suggests that he may do so on a two-year deal. Even so, Gelb makes clear that Realmuto is continuing to survey the free agent market.

The veteran backstop will play next season at the age of 35 and is coming off his worst season since his rookie campaign back in 2015. Realmuto slashed just .257/.315/.384 with a 94 wRC+ in 134 games this year. It’s the third-lowest on-base percentage and the lowest slugging percentage of his career, ignoring an 11-game cup of coffee during the 2014 season. Between Realmuto’s age and down season at the plate, it might seem likely that he would be poised to find a soft market in free agency this winter.

That’s not how things have played out, however. Realmuto has established a solid floor as a two-win regular behind the plate, and that’s allowed him to remain a valuable commodity due to a dearth of catching talent around the league. Danny Jansen and Victor Caratini are the next best options available in free agency behind Realmuto, but Jansen’s 72-game 2022 season is the only campaign in either player’s career where they’ve reached the 2.0 fWAR benchmark that Realmuto has established as a floor over the past three seasons.

Additionally, teams might be less concerned about Realmuto’s near-term future behind the plate given the fact that ABS is coming to the majors in 2026 by way of the challenge system; Realmuto has been a slightly below-average blocker and well above-average at controlling the running game behind the plate in recent years, but lackluster framing numbers have held back his overall defensive value. With the challenge system likely to reduce the impact of catcher framing, perhaps teams are a little more comfortable with using a catcher with a lackluster recent track record when it comes to pitch framing than they otherwise would have been.

Whether it’s Realmuto’s steady floor or the rule changes that will impact his job in 2026, he’s managed to garner some real interest around the league this winter. The Red Sox and Rangers are both known to have interest in Realmuto, though the fit in Texas has been downplayed by significant questions regarding the club’s ability to afford the expected price tag attached to the veteran. MLBTR predicted a two-year, $30MM guarantee for Realmuto, and as the Rangers look to cut payroll this winter it seems reasonable to expect that adding a $15MM salary to the books won’t be in the cards this winter barring a payroll-reducing trade elsewhere on the roster. The same is likely to go for other teams likely to pursue catching help this winter like the Rays and Padres.

That could make Realmuto’s market something of a two-horse race between Boston and Philadelphia, and with Carlos Narvaez locked in for the lion’s share of starts with the Red Sox next year it’s easy to see why the Phillies stand as the likely favorite. Should Philadelphia reunite with Realmuto this winter, however, both Zolecki and Gelb suggest that it might be difficult for the team to make other impact additions without first clearing salary elsewhere on the roster. Gelb notes that while Philadelphia is expected to carry a payroll north of $300MM in 2026, they’re already not too far off from that mark.

According to RosterResource, Philadelphia’s luxury tax payroll sits just under $289MM after the Schwarber deal. Assuming the Phillies plan on a payroll in the same vicinity as last year’s $314MM figure, that leaves the club with $25MM left to spend. Should Realmuto take up around $15MM of that money as the club projects, that would leave just $10MM for the team to use when revamping their outfield mix. That might not be enough to re-sign Harrison Bader, who the Phillies are known to have interest in, and could instead leave them looking at some of the lesser options available in a thin outfield market like Austin Hays, Mike Yastrzemski, Mike Tauchman, and Rob Refsnyder.

Of course, another option would be for the Phillies to look to shed payroll elsewhere on their roster in order to create financial flexibility. That the Phillies are planning to move on from Nick Castellanos this winter is one of the league’s worst-kept secrets. While they evidently plan to try and work out a trade involving the veteran in hopes of saving on at least some of his $20MM salary for next year, the club is lacking in leverage to get that sort of deal done and might wind up releasing him. Gelb suggests that a trade of someone like Alec Bohm or Matt Strahm could be a more likely way to save money, and either player would certainly have more value on the market than Castellanos.

Strahm is due $7.5MM in 2026 and has been a reliable setup man for the Phillies in each of the past three seasons, while Bohm has a 110 wRC+ at third base over the past two years and is projected by MLBTR contributor Matt Swartz for $10.3MM in his final trip through arbitration this winter. Trading both players would free up nearly $18MM in the budget, which would be more than enough to re-up with Bader and Realmuto while still leaving some money left over to add someone like Willi Castro or Yoan Moncada to the mix who could help Edmundo Sosa handle the hot corner until top prospect Aidan Miller is ready to step into the big league lineup. Zolecki notes that Miller could be ready as soon as this coming summer, while fellow top prospects Andrew Painter and Justin Crawford figure to have every opportunity to break camp with the team on Opening Day.

Latest On Mariners’ Bullpen Targets

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Mariners general manager Justin Hollander publicly admitted a few weeks back that the club would be looking for bullpen upgrades. Adam Jude of The Seattle Times reports that Seattle plans to add two relievers and hopes to have one locked down by the end of the Winter Meetings next week. Adding a lefty is a priority and Jude lists five names they are considering, with four of them being southpaws. They are Matt Strahm of the Phillies, JoJo Romero of the Cardinals, Jose A. Ferrer of the Nationals, as well as free agents Tyler Rogers and Hoby Milner. Rogers is the lone right-hander in that group. Jude also mentions that the Mariners had interest in right-hander Phil Maton before he signed with the Cubs.

Seattle had a decent bullpen group in 2025. Their relievers had a collective 3.72 earned run average, which was ninth in the majors. Andrés Muñoz is one of the better closers in the game. But just about any club can add an extra leverage arm or two and bump other guys down a peg. That’s particularly true for the Mariners from the left side, as Gabe Speier is their only established southpaw reliever at the moment. Robinson Ortiz is the other lefty reliever on the 40-man but he hasn’t yet made his major league debut.

It’s unlikely that the club will spend a lot on the relief group. President of baseball operations Jerry Dipoto suggested that the M’s will likely begin 2026 with a similar payroll to where they were at the end of 2025. RosterResource estimates that they are currently about $15MM shy of that target. They already re-signed Josh Naylor but could look to further bolster the infield by re-signing Jorge Polanco or Eugenio Suárez. Jude unsurprisingly suggests the M’s aren’t likely to go after a big name reliever like Edwin Díaz or Robert Suarez.

Strahm, 34, is the most established of the bunch. He now has ten big league seasons under his belt. Though he has pushed into his mid-30s, he has remained effective. He just tossed 62 1/3 innings for the Phils this year, allowing 2.74 earned runs per nine. His 7.8% walk rate was a bit better than average and his 27.3% strikeout rate was quite strong. He triggered a vesting option in his contract and will make $7.5MM next year.

All that makes him attractive for the Mariners but also valuable for the Phillies. It’s possible the Phils may be willing to move a lefty due to a relative surplus. They have reportedly received some trade interest since they have Strahm, José Alvarado and Tanner Banks. The Phils have a lot they want to accomplish this winter, including re-signing Kyle Schwarber and J.T. Realmuto while also remaking their outfield and perhaps bolstering the rotation. They have some money to spend but perhaps trading one of their lefties could leave them less reliant on spending their cash.

Romero, 29, is a much more straightforward trade candidate. The Cardinals are rebuilding and he is just one year away from free agency. MLBTR contributor Matt Swartz projects him for a salary of $4.4MM next year. Over the past three years, he has tossed 156 2/3 innings for the Cards with a 2.93 ERA, 22.9% strikeout rate, 8.5% walk rate and 53.3% ground ball rate.

Ferrer, 26 in March, is also on a rebuilding club. However, he’s under club control for four more years and hasn’t yet qualified for arbitration, so the Nats don’t really need to trade him anytime soon. They are surely hoping to return to contention within his window of control but they may be open to a trade anyway, given that a pitcher can get hurt at any time and reliever performance tends to be volatile.

In Ferrer’s career, he has an unimpressive 4.36 ERA but that might mask his true skills. He is a ground ball guy and the Nats have been one of the worst defensive clubs in recent years, so perhaps a change of scenery would help him unlock a new gear in terms of run prevention. In 76 1/3 innings for the Nats this year, his 21.9% strikeout rate was just shy of league average. His 4.9% walk rate and 62.6% ground ball rate were both excellent. His 4.48 ERA doesn’t look great but his 3.03 FIP and 2.85 SIERA provide more optimism about him thriving in a different environment.

Milner, 35 in January, has a somewhat similar grounder-heavy profile to Ferrer. He has logged at least 64 innings in four straight seasons now. Over that 2022-25 span, he has thrown 264 frames with a 3.55 ERA, 22.6% strikeout rate, 5.8% walk rate and 51.1% ground ball rate. Despite the solid track record, he was only able to secure a one-year, $2.5MM deal from Texas last winter. Perhaps he’ll have some extra earning power after finishing another solid season but he’s also a year older.

Rogers, 35 this month, is one of the most unique pitchers in the game. Not to be confused with his lefty brother Taylor, Tyler is the submarining righty. He doesn’t rack up strikeouts but he is one of the best in the game when it comes to staying healthy, avoiding walks and inducing grounders as well as soft contact. He has logged at least 70 innings in five straight campaigns. Dating back to the start of 2021, he has 378 1/3 innings with a 2.71 ERA, 17% strikeout rate, 4.4% walk rate, 56.3% ground ball rate and consistently strong numbers in terms of exit velocity allowed. He is a free agent for the first time and should be in high demand but some teams may be scared off by his age and lack of velocity, as he can barely even get into the 80s with his fastballs.

Photo courtesy of Jayne Kamin, Oncea-Imagn Images

Phillies Receiving Trade Interest In Lefty Relievers

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The Phillies have gotten trade calls on left-handed relievers Matt Strahm, José Alvarado and Tanner Banks, reports Matt Gelb of The Athletic. Philadelphia could leverage their bullpen depth for help in a different area of the roster.

All three pitchers are affordable and above-average performers. Alvarado, who’ll make $9MM next season, is the most talented of the group. He’s the hardest-throwing lefty reliever in the game, averaging more than 99 MPH on his fastball. The 30-year-old dominated early in the season and took over the closer role until MLB suspended him for 80 games because of a failed performance-enhancing drug test. That made him ineligible for postseason play, but the Phillies welcomed Alvarado back for the end of the regular season and were confident enough in his ability to exercise a 2026 club option.

Jhoan Duran is locked into the ninth inning now. Alvarado projects as Philly’s top lefty setup arm. He’ll be eligible for the playoffs in future seasons, so it’s unlikely the Phillies are putting much stock in the PED suspension moving forward. Alvarado also finished the year on the injured list with a forearm strain but is expected to be fine going into Spring Training.

An Alvarado trade would be relatively surprising. It’s easier to see the Phils swapping one of Strahm or Banks for someone at a position of greater need. Strahm, who turned 34 on Wednesday, vested a $7.5MM salary for the upcoming season. He’s coming off a 2.74 ERA with an above-average 27.3% strikeout rate across 66 appearances. Strahm owns a 2.71 mark over three seasons in Philadelphia and led the team with 22 holds this year.

While Strahm remains a quality leverage option, the Phillies could have some concern about his trend lines. His strikeout rate dropped six percentage points relative to 2024, when he fanned a third of opponents. He averaged a career-low 92.3 MPH on his fastball and has seen his swinging strike rate dip in consecutive years.

Banks, also 34, is the least well known of the Phils’ lefty trio. He didn’t reach the big leagues until his age-30 season and spent his first couple seasons on a rebuilding White Sox team. Banks was an under-the-radar deadline pickup in 2024 and has turned in a 3.24 ERA with a league average 22.5% strikeout rate over 91 2/3 innings in Philadelphia.

His fastball sits in the low-90s, but he attacks the strike zone with a pair of breaking pitches and held lefty batters to a putrid .172/.213/.243 slash line this year. Banks has held his own against right-handed hitters as well, but he’s the kind of pitcher whom teams generally prefer in a middle relief/specialist role rather than as a true high-leverage arm. MLBTR contributor Matt Swartz projects him for a $1.2MM salary in his first of three seasons of arbitration eligibility.

Teams seeking lefty relief help don’t have many free agent options. Gregory Soto is probably in line for the largest contract. He’s a power arm but has inconsistent command and has allowed more than four earned runs per nine in each of the past three seasons. Drew Pomeranz, Caleb Thielbar, Hoby Milner, Justin Wilson, Taylor Rogers and Danny Coulombe should be limited to one-year deals based on their age. Sean Newcomb or Caleb Ferguson could command a cheap two-year deal but aren’t ideal high-leverage options. Steven Matz, Ryan Yarbrough and NPB returnees Anthony Kay and Foster Griffin are swing types.

It’s a weak group, which could lead teams to turn to the trade market. The Cardinals are likely to move former Phillie JoJo Romero, who is going into his final season of arbitration. The rebuilding Nationals could hear teams out on grounder specialist Jose A. Ferrer. The Rays are down to two years of control on Garrett Cleavinger and would surely entertain offers, but they’re going to have a huge asking price. Every contender could evaluate the bullpen market. The Blue Jays, Giants, Mariners, Diamondbacks and Cubs are among the teams that could use another left-handed arm in particular.

While the Phillies have a good group of southpaws, they could use a more reliable right-handed setup arm than Orion Kerkering in front of Duran. They’re also in the market for outfield help and potentially a depth starter/swingman with Harrison Bader and Ranger Suárez hitting free agency. They’re prioritizing re-signing Kyle Schwarber and J.T. Realmuto. They’d need to go outside the organization for a catcher if Realmuto signs elsewhere, as a Rafael Marchán/Garrett Stubbs pairing would be one of the worst offensive duos in the game. President of baseball operations Dave Dombrowski acknowledged at the GM Meetings that they’re evaluating an otherwise weak catching market as a backup plan in case Realmuto doesn’t return (link via Scott Lauber of The Philadelphia Inquirer).

Matt Strahm Passes Physical, Guarantees 2026 Option

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Phillies left-hander Matt Strahm is now officially on the books for 2026. According to Matt Gelb of The Athletic, the southpaw has passed the requisite end-of-season physical to lock in a $7.5MM salary next year.

The Phils and Strahm agreed to an extension in March of 2024. He was already under contract for the 2024 season, with the new pact adding a $7.5MM salary for 2025. It also included a club option for 2026 with a $4.5MM base salary. Strahm could increase the value of that option by $1MM by getting to 40 innings pitched in 2025, then another $1MM for 50 innings. If he got to 60 innings, it would bump by another $1MM to $7.5MM. It would also become guaranteed, as long as he passed an end-of-season physical.

Strahm went on to toss 62 1/3 innings for the Phils this year, allowing 2.74 earned runs per nine. He struck out 27.3% of batters faced while only giving out walks at a 7.8% pace. He recorded six saves and 22 holds, his fourth straight season getting to double digits in the latter category.

Given his solid production, the Phils were probably going to trigger Strahm’s option regardless, but he has now made it official. He’ll return to the club next year and should serve as a key lefty reliever in the Philadelphia pen once more.

As for the other lefties in the bullpen, the Phils will face a decision on José Alvarado, who can be brought back for next year via a $9MM club option or be bought out for $500K. He had a solid performance when on the mound this year, with a 3.81 ERA, 28.1% strikeout rate, 6.1% walk rate and 45.8% ground ball rate. However, he was limited to 26 innings due to an 80-game PED suspension and a September forearm strain. Tanner Banks had a 3.07 ERA this year and can be retained for next year via arbitration. Tim Mayza is an impending free agent.

Photo courtesy of Jim Rassol, Imagn Images

Matt Strahm Triggers Vesting Option

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Phillies reliever Matt Strahm completed a perfect eighth inning for a hold tonight against the Dodgers. In the process, he crossed the 60-inning threshold and vested a $7.5MM option for the 2026 season. The southpaw will still need to pass a postseason physical for the option to go into effect.

Strahm initially joined the Phils on a two-year, $15MM free agent contract during the 2022-23 offseason. That has turned into an excellent value for Dave Dombrowski’s front office. Strahm turned in a 3.29 ERA across 87 2/3 innings during his first season with the club. Philadelphia signed him to a one-year extension for the 2025 season before the ’24 campaign even got underway.

The 33-year-old Strahm has responded with arguably the best two years of his career. He worked to a 1.87 ERA over 66 appearances a year ago and holds a 2.83 mark in 60 1/3 frames this season. His velocity has ticked down, but he’s still punching out 28% of batters faced against an 8% walk rate. He carried a solid 11.7% swinging strike percentage into tonight’s performance.

Philly has increasingly leaned on Strahm as one of their top bullpen weapons. He has a career-best 21 holds. In the second half, only closer Jhoan Duran has entered in higher-leverage situations on average. Strahm is alongside David Robertson and Orion Kerkering as the Phils’ top setup arms going into the playoffs. José Alvarado is ineligible for the postseason because of his failed performance-enhancing drug test. Strahm and Tanner Banks will go into October as manager Rob Thomson’s top two southpaws, while waiver pickup Tim Mayza looks like a borderline candidate to make the playoff roster.

The Phillies would very likely have exercised Strahm’s option even if he had fallen shy of the 60-inning mark. Philadelphia will be happy to retain him on an affordable salary for a leverage reliever. Duran will be back in the ninth inning, while Kerkering and Banks remain under control for multiple seasons. The Phils hold a $9MM option on Alvarado, whose season ended last week when he was diagnosed with a forearm strain.

9 Contract Options To Keep An Eye On In September

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The final push of the 2025 season is upon is, which means postseason chases for fans lucky enough to root for contending clubs and offseason dreams for those whose clubs are already out of the running. It also means that players with vesting clauses in their contract and/or performance incentives are beginning to unlock bonuses related to plate appearances, innings pitched, games finished, etc.

In particular, there are a handful of club options that are worth keeping an eye on either for incentive purposes or for season-long rehabbers who’ll have a limited September window to audition for next year’s club. MLBTR’s Anthony Franco already highlighted the three vesting options of note last month, but we’ll still take a look at how those players are tracking and also shine a light on six more club/mutual options that’ll have some present financial ramifications as well as potential 2026 roster implications.

Here are nine options to keep in the back of your mind as the season’s final weeks play out…

Pete Fairbanks, RHP, Rays

Fairbanks’ three-year, $12MM extension with Tampa Bay contained a $7MM club option for the 2026 season, but he’s boosted that option’s value considerably. Fairbanks already triggered $1.5MM in escalators based on his total appearances in the first three seasons of the deal, and he’s maxed out a set of escalators based on his number of games finished in 2025, tacking another $2MM onto the option price. His option at this moment is valued at $10.5MM, but if he appears in even two more games this year, he’ll boost his 2023-25 appearance count to 150, triggering another $1MM escalator. If he appears in seven of Tampa Bay’s final 22 games, he’ll bump his 2025 appearance total to 60 and hit another $1MM escalator.

Despite all those escalators, MLBTR has learned that the option maxes out at $11MM. That salary for a reliever is steep for the Rays, but Fairbanks has pitched a career-high 52 1/3 innings and logged a 3.10 ERA, 25.2% strikeout rate and 7% walk rate en route to 24 saves. Even if the Rays were hesitant to commit $11MM to a frequently injured reliever who’ll turn 32 in December, a team with lesser budgetary concerns would be willing to do. The option will very likely be picked up either way, but the steeper the cost, the likelier an offseason trade becomes.

Andrés Muñoz, RHP, Mariners

Muñoz’s four-year, $7.5MM contract has become one of the game’s great bargains. At the time of the agreement, he’d made just one appearance for the M’s and had only 23 2/3 major league innings under his belt due to Tommy John surgery. The four-year term bought out his final pre-arbitration year and all three arbitration seasons, while also giving Seattle options on his first three free agent years. It’s easy to say now that Muñoz would’ve earned more through arbitration, but it’s hard to blame a 22-year-old who’d scarcely pitched in the majors for locking in that life-changing payday, and there was some modest risk for the Mariners in the deal as well.

The first of those three option years has a $6MM base value, but Muñoz has already boosted that by $500K. He unlocked $250K option escalators when he reached 20 and 30 games finished on the season. He’s finished 39 games now, and he’ll hit additional $250K escalators when he finishes his 40th and 45th games of the season. The first of those is a lock, and the second is certainly within reach.

Muñoz’s contract also has an $8MM club option for 2027 and a $10MM club option for 2028. He can boost both those figures by $1MM with the same set of escalators based on his games finished in the next two seasons, and beginning next year, he can also earn an additional $2MM per season based on games finished.

John Means, LHP, Guardians

Coming off his second career Tommy John surgery, Means signed a one-year, $1MM deal with the Guardians. Cleveland knew full well he’d miss most of the season recovering from last summer’s UCL operation. Means has a $6MM club option, with no buyout. He can’t boost that sum any further, but he’s on the cusp of returning to the majors and making what’ll amount to a two- or three-start audition.

Means, 32, has made four minor league rehab starts and has pitched well. He’s tossed 13 1/3 innings and yielded four earned runs (2.70 ERA) on eight hits and five walks with 13 punchouts. He’d been slated to make his final rehab start today before being scratched with an illness, but a return to the majors could happen as soon as next weekend.

When healthy, Means has been a high-quality starter. He’s posted a 3.68 ERA in 401 big league innings, all coming with the Orioles. He’s a former Opening Day starter and All-Star for Baltimore who has twice topped 140 innings in a season. A pair of UCL surgeries has limited him to just 52 1/3 innings since Opening Day 2022, however.

The Athletic’s Zack Meisel suggests that as long as Means is healthy, the option will be picked up. The Guards have committed a full year to rehabilitating the talented lefty. And, as explored at MLBTR last night, Cleveland has an uncharacteristic need for some pitching upgrades. A $6MM gamble on Means isn’t exactly a pricey roll of the dice, but the Guardians are one of the sport’s lowest-payroll clubs. If Means returns next week and gets rocked in his only two or three big league starts this year, it doesn’t feel like a given that they’ll dedicate that $6MM sum to him. If he looks even close to his old form, it seems like a reasonable risk to take. His handful of starts will be worth watching with a careful eye for Cleveland fans.

Jose Urquidy, RHP, Tigers

Urquidy is in a very similar situation to that of Means. He’s rehabbing from a second career Tommy John surgery and signed a one-year, $1MM deal with a $4MM club option for the 2026 season. Like Means, he’s on a minor league rehab assignment right now and could be activated in the near future. The former Astros righty tossed three scoreless innings for Triple-A Toledo three days ago and has now pitched 14 2/3 minor league innings with a 4.30 ERA and a 12-to-3 K/BB ratio.

Urquidy and Means have nearly identical career innings totals, though Urquidy’s 405 frames have come in a more condensed five seasons. From 2019-22, the right-hander posted a 3.74 ERA with a 20.3% strikeout rate and 5.2% walk rate in 342 innings for Houston. He was hit hard in a 2023 season that was shortened by shoulder troubles (5.29 ERA in 63 frames) and didn’t pitch in 2024 due to the elbow/forearm discomfort that eventually prompted his Tommy John surgery in early June last year.

If Urquidy comes back anywhere close to that 2019-22 form, a $4MM option should be a no-brainer, but a rocky performance could give the Tigers reason to pause. Urquidy’s return will also be worth monitoring since he could pitch his way into postseason roster consideration for Detroit.

Tyler Kinley, RHP, Braves

Atlanta looked past Kinley’s dismal 5.66 ERA with the Rockies and acquired him in July, clearly believing that the hard-throwing righty was only a few tweaks away from success. It’s been a masterstroke. Kinley has pitched 13 2/3 innings and allowed just one run since being traded to Atlanta in exchange for 26-year-old Double-A righty Austin Smith. The Braves have Kinley throwing even more sliders and working with a slightly lower release point, and the results have been stellar — albeit in a small sample.

The Braves were out of the postseason chase by the time the deadline rolled around, so the mere fact that they traded for a potential free agent with a 2026 club option signaled that they were open to exercising that option in spite of his struggles. Kinley’s success in Atlanta makes it quite likely he’ll return, but there’s a good chance it won’t be at the $5MM base price of his value. His contract contains option escalators based on games finished, the first of which kicks in at 20. Kinley has currently finished 18 games this year, including three with Atlanta. If he finishes two more, he’ll boost next year’s option to $5.5MM — and he’ll also unlock a $500K bonus for the current season.

It’s not a major change, but those incentives would bump him from a $2.08MM luxury tax hit to $2.875MM. Assuming the options on Kinley, Pierce Johnson, Chris Sale, Ozzie Albies and Ha-Seong Kim are all exercised, Atlanta will have $207.5MM committed to next year’s books when the offseason begins (before accounting for arbitration raises).

Harrison Bader, OF, Phillies

Bader has proven to be a terrific pickup for the Phils, hitting .307/.374/.477 in his first 99 plate appearances since being traded over from Minnesota. He’s up to 406 plate appearances on the season, which is just enough for his incentive structure to kick in. The $1.5MM buyout on Bader’s $10MM mutual option jumped to $1.7MM when he reached 400 plate appearances, and it’ll climb to $1.9MM at 425 plate appearances and $2.1MM if he reaches 450. It’s a minor bump, but for a Phillies club that’s a third-time luxury payor in the top tier of penalization, they’ll pay a 110% tax on the prorated portion of that extra $600K.

Given the strength of Bader’s play, they’ll happily pay that, of course, and the increased buyout does nothing to change the fact that Bader will return to free agency this winter. It’s been over a decade since the last time both sides of a mutual option were exercised in MLB (Brewers, Aramis Ramirez in 2014). Bader’s plus defense and strong season at the plate should position him for a multi-year deal in the offseason.

Jorge Polanco, INF, Mariners

Polanco is nine plate appearances shy of converting his 2026 mutual option into a $6MM player option. He’s also already tacked $2MM onto his 2025 salary via plate appearance incentives, and when he hits the 450 mark needed to trigger that player option, he’ll unlock another $500K. That’ll bump the veteran switch-hitter up to a $9.5MM salary in 2025. He’d get another $500K if he can make it to 500 plate appearances, but it’s not a guarantee he’ll get 59 plate appearances in between now and season’s end.

Though he’s slumped considerably in the middle months of the season, Polanco has heated up again in the past three weeks. He’s slashing .254/.319/.471 with 23 homers and 17 doubles in only 441 plate appearances — miles better than the down year he had with the M’s in 2024 before undergoing offseason knee surgery. He’s played well enough that he’s probably going to decline a $6MM player option anyhow, but it’ll be a nice safety net in the event of an injury (so long as it’s not a lower-half injury, as his contract contains language that’d prevent the player option from kicking in if he’s dealing with an injury related to that offseason knee procedure).

Matt Strahm, LHP, Phillies

Strahm is on the cusp of having his contract’s 2026 option vest. While that originally came at a $4.5MM base value, he’s already boosted the option value to $6.5MM via $1MM escalators at 40 and 50 innings pitched. Once he reaches 60, the option value increases to its maximum $7.5MM. The contract also stipulates that if Strahm pitches 60 innings and passes a physical at the end of the season, it’ll automatically vest.

Strahm has been excellent in 2025, logging 56 1/3 frames of 2.88 ERA ball with a 27.9% strikeout rate and 7.7% walk rate. He’s saved six games and tallied 17 holds. The Phillies would’ve picked up the option anyhow, but this removes any doubt.

Lucas Giolito, RHP, Red Sox

Giolito’s two-year, $38.5MM contract with Boston couldn’t have started much worse. The typically durable righty went down with a UCL injury in spring training last year, ultimately requiring surgery that wiped out his entire 2024 season. His 2025 return didn’t appear to be going well early on, either. Through his first seven starts, the 31-year-old was shelled for a 6.42 ERA in just 33 2/3 innings.

Since June 10, however, Giolito has returned to form. He’s started 15 games, totaled 91 2/3 innings and logged a pristine 2.26 earned run average. His 21.1% strikeout rate and 8.6% walk rate in that time are both about half a percentage point worse than league average among starting pitchers, but it’s been a strong run overall, pushing his season ERA down to a tidy 3.38.

That turnaround would make Giolito’s $14MM club option likely to be picked up — but it’s not likely to remain a club option. The right-hander’s contract stipulates that with 140 innings pitched this year, that option converts into a $19MM mutual option with a $1.5MM buyout. With 125 1/3 innings under his belt, Giolito only needs another 14 2/3 frames in the final three weeks to convert that option to mutual status. If and when he reaches that point, Giolito is a lock to decline his half of the mutual option, collect that buyout and return to free agency in search of a multi-year deal. The Sox could — and likely would — counter with a qualifying offer, but the hefty contracts for mid-rotation arms like Eduardo Rodriguez (four years, $80MM), Sean Manaea (three years, $75MM), Taijuan Walker (four years, $72MM), Jameson Taillon (four years, $68MM) and Luis Severino (three years, $67MM) in recent offseasons all suggest that Giolito can reasonably seek a pricey three- or four-year deal ahead of what’ll be his age-31 season.

Vesting Options Update: Giolito, Polanco, Strahm

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The upcoming free agent class doesn’t feature a ton of players whose contracts contain vesting options. Marcus Stroman’s deal with the Yankees would’ve contained an $18MM player option had he reached 140 innings, but an early-season knee injury made that impossible. The Yanks released him earlier this month anyhow.

While Stroman’s option was a non-factor, a trio of players are closing in on their own vesting provisions.

  • Lucas Giolito, Red Sox RHP ($14MM club option converts to $19MM mutual option at 140 innings; $1.5MM buyout in either case)

Giolito is up to 106 2/3 innings across 19 starts. He needs another 33 1/3 frames to convert next season’s $14MM team option into a $19MM mutual provision. That’d allow him to decline his end and retest free agency as he heads into his age-31 campaign. He’d very likely do so and could command a three-plus year contract.

The righty’s season numbers aren’t exceptional. Giolito carries a 3.63 earned run average with a 19.6% strikeout percentage that is his lowest since his terrible 2018 campaign. He had a trio of blowups in his first seven appearances after missing all of last season to an internal brace surgery. He has been locked in over the past two-plus months. In his last 12 starts, Giolito carries a 2.34 ERA while averaging over six innings per appearance. His 20.4% strikeout rate still isn’t great, and he has benefitted from a .229 opponents average on balls in play, but he at least looks the part of a durable mid-rotation arm again.

Giolito has a good shot to reach 140 innings. He’d need to average a little under six innings per start over his next six appearances. If he stays healthy, he should take the ball at least seven times — which would give him leeway in case he has one bad outing in which he’s knocked out after two or three frames. Even a minimal injured list stint would take it off the table, though.

Chief baseball officer Craig Breslow said over the weekend that the Sox had no intention of changing Giolito’s workload to keep him from vesting the option. No front office executive would publicly admit otherwise, of course, but there’s no reason to doubt Breslow in this case. The Red Sox are trying to secure a postseason berth. Even if they were out of contention, limiting a player’s workload so they could exercise an option to keep that player at a below-market rate wouldn’t make for an especially good relationship. If he gets to free agency, Giolito could take aim at something like the three-year deals secured by Luis Severino ($67MM with an opt-out after the second season) and Sean Manaea ($75MM with deferrals).

  • Jorge Polanco, Mariners DH/2B ($8MM mutual option converts to $6MM player option at 450 plate appearances, escalates to $8MM player option at 550 plate appearances; $750K buyout in either case)*

Polanco re-signed with Seattle last offseason on a somewhat complicated deal that reflected his health uncertainty coming off left knee surgery. The deal contains an $8MM mutual option which would vest into a $6MM player provision if Polanco reaches 450 plate appearances. Polanco has taken 395 trips to the dish. He’s 55 plate appearances from reaching the vesting mark, and he’d escalate the player option price back to $8MM if he tallies another 155 trips before season’s end.

Initially, the Mariners looked to have struck gold with that surprise re-signing. Polanco blasted nine home runs while hitting .384 through the end of April. Even with knee and side discomfort limiting him to early-season DH work, he looked rejuvenated. Polanco’s production completely tanked over the next two months, however. He had a huge July but is back to a .213/.275/.298 showing in 14 games this month.

Polanco has hit .209/.283/.344 across 315 plate appearances since the beginning of May. His season batting line (.245/.310/.439) is still above-average, but there have been significant peaks and valleys. Cole Young has taken over at second base. While Eugenio Suárez’s impending free agency leaves an opening at third base, Polanco hasn’t shown he’s healthy enough to play there regularly. There’s a good chance the Mariners would buy out their end of the option if it remains a mutual provision. Polanco only needs to start another 13 or 14 games to give himself more security.

That shouldn’t be a problem with 36 games remaining on the schedule. The M’s have sat him in each of their past two games against left-handed opponents, but he continues to play regularly versus righties. He’s highly unlikely to get all the way to 550 PA’s to push the player option to $8MM, but he should easily unlock the $6MM player option that’ll give him the unilateral decision whether to return to free agency.

* The vesting provision also requires that Polanco hasn’t suffered a lower body injury that’d prevent him from being ready for Opening Day 2026.

  • Matt Strahm, Phillies LHP ($5.5MM team option becomes guaranteed at $7.5MM at 60 innings)*

Strahm’s extension with the Phillies contained a $4.5MM club option for the 2026 season. The southpaw has already pushed that to $5.5MM and will escalate it to $6.5MM when he records two more outs. He’s 10 2/3 innings away from hitting the 60-inning threshold, at which point the price jumps to $7.5MM and becomes guaranteed.

In his case, it’s probably immaterial. Even if Strahm suffers a minor injury that keeps him from getting to 60 frames, the Phillies would probably exercise the option. Strahm is having another impressive season, working to a 3.10 ERA with six saves and 14 holds. His velocity has dropped a tick and he has lost a few points on his strikeout rate, but he has still punched out an above-average 27.7% of opponents. Strahm is one of Rob Thomson’s more trusted setup arms.

* The vesting provision also requires that Strahm pass a postseason physical.

Looking Ahead To Club Options: NL East

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MLBTR continues our division by division look at next year’s team/mutual option class with the NL East. Only three teams in the division have such options, though Atlanta’s group of decisions involve some of the more notable players in the class.

Previous installments: player options/opt-outs, NL West, AL West, NL Central, AL Central

Atlanta Braves

This is the final guaranteed season of the $35MM extension which Albies signed early in 2019. The deal was widely considered a massively team-friendly contract the day it happened, and that has proven to be the case. Albies has made a pair of All-Star teams, won two Silver Slugger Awards, and twice found his name on MVP ballots over the course of the deal.

There’s no intrigue to this one. The Braves will exercise the option, which ends up being a $3MM investment after factoring in the $4MM buyout. There will be another $7MM club option (with no buyout) for 2027 that will probably be a similarly easy call. Albies’ offense has declined over the past two seasons, as he’s hitting just .246/.300/.398 in 553 plate appearances since the start of 2024. The $3MM difference between the option price and the buyout is low-end utility player money, though. Even if the Braves start to question whether Albies remains the answer at second base, there’d be surplus trade value.

Atlanta signed Arcia to a three-year, $7.3MM extension on the eve of the 2023 season. It looked like an odd move at the time, an unnecessary multi-year commitment for a likely utility infielder. Then Arcia broke out with an All-Star season while replacing Dansby Swanson as Atlanta’s everyday shortstop. The contract looked like a major coup for the front office.

Things have swung back in the opposite direction over the past year-plus. Arcia’s bat cratered last year, as he turned in a .218/.271/.354 line over 602 plate appearances. While the Braves stuck with him as their starting shortstop, he’s lost that role with a dismal start to the ’25 season. Arcia has hit .200 with eight strikeouts, one walk, and one extra-base hit (a double) through 31 trips. Nick Allen jumped him on the depth chart and has started the past five games. Arcia wouldn’t need to do much to convince the Braves to exercise an option that amounts to a $1MM decision, but he’s no longer a lock to even stick on the roster all season.

Johnson dominated over 24 appearances after being acquired from the Rockies at the 2023 deadline. The righty would have been one of the better setup men in the following free agent class, but the Braves signed him to a two-year extension with a $14.25MM guarantee to keep him off the market. He has made consecutive $7MM salaries and has a matching club option with a $250K buyout for next season.

It has worked out nicely. Johnson fired 56 1/3 innings of 3.67 ERA ball with a strong 28.4% strikeout rate last year. He has punched out 10 while allowing four runs through 9 1/3 frames to begin this season. His whiffs are slightly down, while opponents are making more hard contact than they did a season ago. Those are worth monitoring, but Johnson’s overall body of work in Atlanta consists of a 2.89 earned run average with 109 strikeouts over 89 1/3 innings. As of now, a $6.75MM price point seems like solid value.

Sale’s first season in Atlanta was brilliant. He posted an MLB-best 2.38 ERA while leading the National League with 225 strikeouts. He won his first career Cy Young award after finishing in the top six on seven occasions earlier in his career. He reestablished himself as an ace following some injury-plagued years. The trade in which he was acquired from the Red Sox for struggling second baseman Vaughn Grissom has been a steal.

The left-hander’s uneven start to 2025 has contributed to the Braves’ mediocre April. Sale has allowed 5.40 earned runs per nine through his first six outings. They’ve gone 3-3 in those contests. It’s largely the product of an inflated .400 batting average on balls in play against him. Sale’s 27.3% strikeout rate is down nearly five percentage points relative to last season, but it remains a well above-average mark for a starting pitcher. He’s getting whiffs on 12.9% of his offerings. His slider has been as lethal as ever. Opponents have feasted on his fastball so far, but there’s no dramatic change in velocity or spin. While the poor start has probably tanked his chance of repeating as the Cy Young winner, the $18MM option still seems like an easy “yes” for the front office.

Miami Marlins

  • None

New York Mets

Over the weekend, Raley reportedly agreed to terms with the Mets on a one-year deal with a club option. The signing has not been finalized, nor has the money been reported. Raley is working back from last May’s Tommy John surgery.

The Mets also re-signed Smith on a one-year deal with an option after TJS — a July operation, in his case. He’s making $1MM for what will probably be a completely lost season. The Mets get an affordable $2MM option for next season that they’re likely to exercise so long as Smith doesn’t suffer a setback. If they do pick it up, he could earn another $750K based on his appearance total next season. Smith would make $50K apiece at 30, 35, and 40 appearances; $75K for 45 and 50 games; $100K at 55 and 60 appearances; and $125K each for 65 and 70 games. He owns a 3.48 ERA over parts of six seasons as a quality middle reliever for New York.

Philadelphia Phillies

Alvarado signed for two years and $18.55MM in new money on a deal covering the 2024-25 seasons. He has made $9MM salaries in each of the past two years and has a matching option with a $500K buyout. That’s a little below the market rate for high-leverage relievers, which Alvarado has proven himself to be.

Over parts of five seasons with the Phils, the lefty carries a 3.34 earned run average. Bouts of wildness have led to some inconsistency, but he’s shown the ability to miss bats at plus rates while throwing as hard as any left-hander in the sport. Alvarado’s 24.4% strikeout rate last season was oddly pedestrian, but he’s fanned nearly 30% of batters faced in his career.

He has been back at peak form to begin this season. He has punched out 18 of 56 hitters (32.1%) while allowing only three runs through 13 2/3 innings. Alvarado has collected five saves and a pair of holds without blowing a lead, and he’s operating with career-best control (3.6% walk rate). It’s tough to envision him continuing to throw this many strikes — he walked more than 10% of opponents in seven consecutive years leading up to this one — but he’s the Phils’ most trusted reliever right now. This is tending towards an easy pickup.

Shortly before Opening Day last year, Strahm preemptively signed a one-year extension covering the 2025 season. The lefty is making $7.5MM this year and has a club/vesting option for next season. It begins as a $4.5MM team option. The price would jump by $1MM apiece if he reaches 40, 50 and 60 innings pitched this year. If he hits 60 innings and passes a postseason physical, it vests at $7.5MM. It’s a straight vesting option, not one with an opt-out, so Strahm would return on a guaranteed deal if it triggers.

That’s a result with which the Phillies would probably be happy. Strahm turned in an excellent ’24 campaign, working to a 1.87 ERA while striking out a third of opposing hitters over 66 appearances. He has fanned 15 through his first 11 2/3 frames this year. Strahm has surrendered five runs, four earned, on 11 hits and four walks. His 91.8 MPH average four-seam fastball is down from last season’s 93.4 mark, which is a little alarming, but the results have been solid and he remains one of the more reliable setup options for skipper Rob Thomson.

Washington Nationals

  • None
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