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2024-25 Player Option/Opt-Out Preview: June Edition

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We’re two months into the 2024 season, meaning more than a third of the schedule has already elapsed. While there are still plenty of games remaining, there are enough in the books to affect the market of the upcoming free agent class.

That’s particularly true for players who can opt out of their current contracts. Player ages are for the 2025 season.

  • Cody Bellinger (29): Can opt out of final two years and $52.5MM on three-year guarantee

Bellinger didn’t find the $200MM+ offer he was seeking last winter. As with a few other high-profile Boras Corporation clients (more on them in a minute), he pivoted to a short-term deal that allowed him to return to free agency next winter. Bellinger is arguably out to the best start of the bunch and seems on track to head back to the open market. He can earn a salary of $27.5MM in 2025 or take a $2.5MM buyout. If he decides to stay with the Cubs, he’ll then get to choose between a $25MM salary for 2026 or a $5MM buyout.

The lefty-hitting center fielder has a .265/.325/.459 line with eight homers over 203 plate appearances. His 15.8% strikeout rate and 7.9% walk percentage are on par with last year’s levels. Bellinger is again succeeding despite a below-average 33.8% hard contact rate. He’s not performing at quite the same pace he did in 2023, but the overall profile remains the same: good contact skills with the ability to play center field and mediocre batted ball metrics.

It could set up another winter where Bellinger’s exit velocities are the subject of plenty of debate. Perhaps his camp will need to lower their asking price in the early stages of his free agency, but the initial decision to opt out would be a straightforward one if he continues at this pace. He’d still be fairly young for a free agent at 29. Now two seasons removed from his dismal 2021-22 production, he also wouldn’t be saddled with a qualifying offer. Bellinger received the QO last winter, so he cannot receive another in his career.

  • Matt Chapman (32): Can opt out of final two years and $36MM on three-year guarantee

Chapman also settled for a short-term deal after a tough finish to the 2023 season. The defensive stalwart inked a three-year, $54MM contract with the Giants early in Spring Training. He has a $17MM player option for next season and an $18MM player option for the ’26 campaign if he doesn’t take the first opt-out. There’s a $1MM buyout on a mutual option for 2027 as well.

Over 60 games in San Francisco, he’s hitting .238/.307/.411 with eight home runs. That’s slightly better than average production in this season’s diminished run environment. By measure of wRC+, Chapman has been nine percentage points better than average at the plate — right in line with his usual level. He’s putting the ball in play more than he ever had before, but he’s sacrificing a few walks and some of his typically huge exit velocities to do so. While this would probably be enough for Chapman to head back to free agency in search of a three- or four-year deal, it’s not likely to result in the nine-figure contract that seemingly wasn’t on the table last offseason.

  • Gerrit Cole (34): Can opt out of final four years and $144MM on nine-year guarantee; team can override by exercising a $36MM option for 2029 if Cole declines his end

As recently as a few months ago, this decision looked preordained. Cole, coming off a Cy Young win and probably the best pitcher in baseball, would trigger the opt-out — only for the Yankees to override it by exercising a $36MM option for 2029. Boras suggested as much in a chat with USA Today’s Bob Nightengale in December.

His status has at least been somewhat complicated by elbow inflammation that arose during Spring Training. Cole has spent the entire season on the 60-day injured list; he’ll begin a minor league rehab stint tonight. If he looks like his typical self in the second half, this’ll probably be an easy call for Cole and the Yankees alike. If he struggles or, more worryingly, battles any other elbow concerns, he’d need to more seriously consider hanging onto the final four years and $144MM on his record free agent deal.

  • Nathan Eovaldi (35): Conditional $20MM option if Eovaldi reaches 156 innings pitched or based on Cy Young/All-Star results

Eovaldi’s $34MM deal with the Rangers contained a conditional option for 2025 that went into effect if he threw at least 300 innings in the first two seasons. He logged 144 frames a year ago, meaning he needed 156 this season. Eovaldi lost three weeks to a groin strain. He has made nine starts and thrown 50 innings so far, leaving him 106 shy of the vesting threshold. With another 18-20 turns through the rotation, it’s still doable, but any other injuries would essentially rule it out.

He could also kick in the option with a top-five finish in Cy Young balloting or a top seven Cy Young finish and an All-Star selection. While he’s pitching very well, the Cy Young provision only comes into play if he falls short of 156 innings. Placing that high without reaching 156 frames is a tall task.

Even if he were to vest the option, Eovaldi may well prefer to head back to free agency in search of a multi-year deal. While he’ll be 35, he still looks the part of an upper mid-rotation starter. Eovaldi has followed up a 3.63 ERA during his first season in Arlington with a 2.70 mark to this point. His fastball is sitting around 96 MPH and he has punched out more than 26% of opposing hitters with a ground-ball rate north of 50%. There’ll always be lingering durability questions given his age and two previous Tommy John surgeries, yet on talent, Eovaldi is one of the better pitchers who could be available.

  • Wilmer Flores (33): $3.5MM player option; team can override by exercising an $8.5MM option if Flores declines his end

In September 2022, the Giants signed Flores to a $16.5MM extension. He has a $3.5MM option for next season; if he declines, the Giants could keep him around by picking up an $8.5MM salary. Flores had arguably the best year of his career in 2023, drilling a personal-high 23 homers with a .284/.355/.509 slash line. The pendulum has swung in the opposite direction this season. He has only one longball with a .207/.276/.283 mark in 163 trips to the plate. Flores’ strikeout and walk profile haven’t changed, but his contact quality has plummeted.

A full season of replacement level production would make it likely that Flores takes the $3.5MM salary. There’s still time for him to find his power stroke, though.

Giolito is likely to take a $19MM salary from the Red Sox next year. The typically durable right-hander suffered a UCL injury during his second Spring Training appearance with Boston. He underwent an internal brace procedure and will miss the entire season. While he could be ready for the start of next season, he’d be hard-pressed to match a $19MM salary coming off the elbow procedure.

Opting in would trigger a conditional team/mutual option for the 2026 season, though. If Giolito doesn’t top 140 innings next year, the Sox would have a $14MM option (with a $1.5MM buyout) for ’26. Giolito would convert that to a $19MM mutual option by reaching the 140-inning plateau.

  • Mitch Haniger (34): Can opt out of final year and $15.5MM on three-year guarantee

The Giants signed Haniger to a three-year, $43.5MM free agent deal two winters back. That allowed him to opt out of the final season’s $15.5MM salary. Haniger’s time in the Bay Area was a disappointment. A broken arm limited him to 61 games and he didn’t hit well when healthy. San Francisco dealt him back to the Mariners last offseason in a change-of-scenery swap involving Robbie Ray and Anthony DeSclafani.

Haniger is the only member of that trio who has played in 2024. (Ray is still recovering from Tommy John surgery, while DeSclafani was flipped to the Twins and ultimately required elbow surgery himself.) The veteran outfielder hasn’t hit in his return to the Pacific Northwest. He carries a .221/.282/.349 line with six homers and a strikeout rate approaching 28% in 213 plate appearances. He’s trending towards sticking around.

  • Rhys Hoskins (32): Can opt out of final year and $18MM on two-year guarantee

Hoskins inked a two-year, $34MM deal with the Brewers after losing all of 2023 to an ACL tear. He landed in a favorable hitting environment in Milwaukee with a chance to prove he was back to his typical offensive form. Hoskins has done just that over the season’s first two months, connecting on 10 homers with a .243/.345/.486 line through 168 trips. He’s well on his way to opting out and would be one of the top offensive players in next year’s free agent class. The Brewers could make him a qualifying offer.

The Dodgers brought back the future Hall of Famer, who is rehabbing from an offseason shoulder procedure. His deal contains a 2025 player option with a $5MM base value and significant escalators. It’d jump to $7MM if he makes six starts this season, $3MM apiece for each of his seventh through ninth start, and another $4MM if he starts 10 games. Performance bonuses could push his 2025 salary as high as $25MM.

It’s likely Kershaw will exercise the option regardless of where the specific value winds up. He has been throwing but has yet to begin a rehab stint. A return relatively early in the season’s second half — which would give him a chance to get to 10 starts — is still in play.

Manaea opted out of a $12.5MM salary last winter and landed a two-year, $28MM pact from the Mets. He’s been a rare bright spot in a dismal season in Queens. Over 11 starts, the southpaw has tossed 57 innings of 3.63 ERA ball. He has a solid 23.2% strikeout rate behind an 11.2% swinging strike percentage. Manaea’s 9.9% walk rate is a personal high, but he’s looked the part of a decent mid-rotation starter.

If he continues at this pace, he’d likely forego next year’s $13.5MM salary and hit the market for a third straight winter. Manaea will be heading into his age-33 campaign and could look for a two- or three-year pact (potentially the final multi-year deal of his career). Even if wouldn’t dramatically improve on his annual salary, pitchers like Seth Lugo and Michael Wacha have gotten multi-year deals in their mid-30s for mid-rotation work.

Cincinnati guaranteed Martinez $26MM over two seasons — $14MM this year with a $12MM option for 2025. That investment made it appear the Reds would give him an extended look in the rotation. They’ve instead kept him in the swing role which he played for most of his time with the Padres. Martinez has started five of 13 games, posting a 4.20 ERA across 49 1/3 innings. He has a microscopic 0.76 ERA from the bullpen but has been rocked for a 7.36 mark out of the rotation.

On the surface, Martinez’s production doesn’t seem all that eye-catching. It’s not too dissimilar to Manaea’s work in a swing role with the Giants in 2023, though. Manaea turned in a 4.44 ERA while starting 10 of 37 games with San Francisco. He declined a $12.5MM player option and found a multi-year deal with a team willing to give him a rotation spot. Martinez (like Manaea, a Boras Corp. client) has opted out of multi-year commitments from San Diego in each of the last two offseasons. He’d probably do the same next winter if his performance doesn’t dramatically turn.

Montgomery agreed to terms with the Diamondbacks just days before the start of the regular season. He landed a $25MM salary for this year and a conditional player option for 2025. The condition — making 10 MLB starts — would only not come into play if the southpaw suffered a significant injury. Montgomery is already two starts away from vesting the option. Its value would escalate to $25MM if he gets to 23 starts.

The 31-year-old certainly anticipated declining that option and trying his hand again in free agency. He’s been hit hard through his first eight starts in the desert, though. Montgomery has been tagged for a 5.48 earned run average across 44 1/3 innings. While he’s still showing good control, his strikeout rate has plummeted seven points to a poor 14.4% rate. His four-seam and sinker are each averaging less than 92 MPH after sitting around 93.5 MPH last season. Perhaps Montgomery is still shaking off rust related to his delayed start to the year, yet his early performance could make the option decision tougher than he expected.

The Reds signed Pagán to a two-year, $16MM contract with the ability to collect a $250K buyout in lieu of an $8MM salary next season. It was an odd fit considering Cincinnati’s hitter-friendly home park and Pagán’s longstanding trouble with the longball. His first 21 appearances as a Red have been fine. He owns a 4.19 ERA across 19 1/3 innings. The righty has a customarily strong 30.5% strikeout rate against an 8.5% walk percentage. He has surrendered four homers.

Pagán, who is currently on the 15-day injured list with triceps tightness, has performed about as the Reds probably anticipated. This one can still go either way, but an $8MM salary for his age-34 season feels about right for his market value.

  • Wandy Peralta (33): Can opt out of final three years and $12.65MM on four-year guarantee

The Padres surprisingly signed Peralta to a four-year deal as a means of reducing the contract’s luxury tax hit. The veteran southpaw has been effective, turning in a 2.66 ERA across 23 2/3 innings. Peralta doesn’t miss many bats, but he’s an excellent ground-ball specialist (55.6% this season, 53.1% for his career). Even though he’s pitching well, it’d be somewhat surprising to see him walk away from another three years and almost $13MM covering his age 33-35 seasons.

  • Robbie Ray (33): Can opt out of final two years and $50MM on five-year guarantee

Ray’s five-year, $115MM contract with the Mariners allowed him to bypass the final two seasons valued at $25MM annually. Ray had a solid, if not overwhelming, first season in Seattle. His elbow gave out after one start in year two. Ray underwent Tommy John surgery in May 2023. The Mariners offloaded the final three years of his contract in the Haniger trade with the Giants.

The former AL Cy Young winner is targeting a return around the All-Star Break. He has been throwing from a mound and could head on a rehab stint in the coming days. Odds are against an opt-out right now, but a dominant second half could change the calculus.

The Royals signed Renfroe to a surprisingly strong two-year, $13MM deal. The righty-hitting outfielder was coming off a middling .233/.297/.416 showing between the Angels and Reds a year ago. He has had a very rough start to his Kansas City tenure, hitting .178/.256/.309 with only four homers in 168 plate appearances. It’d take a major reversal in the season’s final few months for him to forego a $7.5MM salary.

The Giants jumped in late on Chapman and even later to grab the defending NL Cy Young winner. Snell signed a two-year, $62MM guarantee two weeks before Opening Day. The hope for everyone involved was that he’d collect the first $32MM and pitch well enough to pass on next season’s $30MM option.

Snell’s first two months in the Bay Area couldn’t have gone much worse. He has battled groin issues throughout the season. Snell lost around a month with an adductor (groin) strain between April and May. He went back on the 15-day IL last night. He has taken the ball six times and been rocked for a 9.51 ERA over 23 2/3 innings. Needless to say, he’ll need a much better final four months to go back to free agency.

The Renfroe deal wasn’t the only surprising two-year pact with an opt-out that the Royals signed last winter. They signed Stratton, a generally solid middle reliever, to an $8MM deal containing a $4.5MM option for next season. The right-hander was coming off a 3.92 ERA performance across 82 2/3 innings out of the St. Louis and Texas bullpens.

He hasn’t been as effective for the Royals, allowing 5.76 earned runs per nine through 25 frames. Stratton’s strikeout rate is down a few points to 21.7%, but the much bigger issue is an uncharacteristic inability to find the zone. He has walked almost 16% of batters faced, more than doubling last season’s rate.

  • Justin Verlander (42): Conditional $35MM option if Verlander reaches 140 innings pitched

Verlander would unlock a $35MM player option if he throws 140 innings this season. While he was delayed to start the year by shoulder discomfort, he has logged 52 innings in nine starts since his return. Barring another injury, he’ll throw more than 88 innings over the season’s final four months.

At 41, Verlander is still pitching well — a 3.63 ERA with a 22.2% strikeout rate — but he’s not operating at Cy Young form. If he continues at this pace all season, matching a $35MM salary on the open market is unlikely. Verlander seems comfortable in Houston and would probably prefer to stick with the Astros, though that may depend on whether the team plays better before the deadline. Verlander approved a trade from the Mets back to Houston last summer when it became clear that New York wasn’t going to be a legitimate World Series contender during his contract. At 27-34, the Astros need to turn things around quickly to put themselves in position for an eighth straight trip to the ALCS.

Wacha landed in Kansas City on a two-year commitment with matching $16MM salaries and the opportunity to head back to free agency after year one. The veteran righty is pitching well enough to make that a consideration. He owns a 4.24 ERA across 12 starts and 68 innings. That’s a run higher than his ERA of the past two seasons, but the general profile remains the same.

He throws strikes with slightly below-average whiff rates. He has thrown between 120-140 innings in each of the last three seasons and looks on his way to matching or surpassing that in 2024. Opting out in search of another two-year deal in the $30MM range is plausible.

Brandon Williamson To Begin Season On Injured List

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Reds starter Brandon Williamson will begin the season on the 15-day injured list, manager David Bell informed the Cincinnati beat on Tuesday (relayed by Charlie Goldsmith of the Cincinnati Enquirer). The left-hander departed his Spring Training start over the weekend with shoulder soreness.

There’s no indication it’s expected to be a long-term issue, but the team didn’t provide a timeline for his return. Williamson held a spot in the Reds rotation for much of last season. He started 23 games and worked 117 innings as a rookie. After being hit hard through his first eight starts, Williamson settled in as a decent back-of-the-rotation contributor. He finished his debut campaign with a 4.46 ERA, a respectable figure for a rookie pitching in one of the league’s most hitter-friendly home environments.

That came with middling peripherals, but the TCU product still had a shot of securing a season-opening rotation spot if he were healthy. With Williamson on the shelf, Bell said that fellow lefty Andrew Abbott will get a starting job. The Reds had previously been noncommittal on that, even though Abbott had a strong rookie campaign. Over 21 starts, he worked to a 3.87 ERA while punching out 26.1% of opposing hitters. The overall numbers were impressive, but Abbott’s production fell off dramatically down the stretch. He carried a 2.35 ERA into August before allowing more than six earned runs per nine in each of the final two months.

Abbott rounds out a season-opening rotation that’ll be fronted by offseason pickup Frankie Montas. The Reds announced that the hard-throwing righty will get the nod on Opening Day for his team debut. He’ll be followed in some order by Hunter Greene, Graham Ashcraft, fellow free agent signee Nick Martinez, and Abbott. Martinez has plenty of experience as both a starter and reliever. He’ll take at least one turn through the rotation but would be an option to move back to the bullpen once Nick Lodolo is ready for his season debut. The Reds have targeted the second week of April for the left-hander, who lost most of the 2023 season to a stress fracture in his left tibia.

Cincinnati was hit with bigger injury news over the weekend, as center fielder TJ Friedl was diagnosed with a fracture in his right wrist. He’ll be out for quite some time. At this stage of the offseason, there aren’t any MLB-caliber center fielders still available in free agency. Mark Sheldon of MLB.com writes that the Reds seem likely to turn to the combination of Will Benson and Stuart Fairchild to cover center field if they can’t find help outside the organization.

As a left-handed hitter, Benson would be in position for the stronger side of a possible platoon arrangement. The Reds kept him away from southpaws last season, limiting him to 44 plate appearances. Benson was excellent when put in favorable platoon situations. He hit .297/.389/.549 in a little under 300 trips versus righty pitching. That kind of production was always going to warrant a lot of play in the Cincinnati outfield. The bigger question is whether he’s capable of handling an up-the-middle position. Benson only has 88 major league innings in center field. Statcast and Defensive Runs Saved have each graded him as a roughly neutral defender in the corners.

Fairchild appeared in 97 games a year ago, hitting .228/.321/.388. He’s out of minor league options and was already set to break camp, but the Friedl injury pushes him into a more important fourth outfield role. The 28-year-old has posted roughly average offensive numbers against pitchers of either handedness in his major league career. He owns a more impressive .275/.371/.507 slash line over parts of three Triple-A campaigns.

Reds Sign Nick Martinez

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Dec. 1: The Reds have formally announced their deal with Martinez. Interestingly, GM Nick Krall tells Reds beat writers that Martinez will come to camp and compete for a job in the rotation — obviously implying that Martinez has not been assured of starting job just yet (link via Mark Sheldon of MLB.com). Martinez will make $14MM next season and will have a $12MM salary in 2025 if he doesn’t opt out, MLBTR has learned.

Nov. 30: The Reds are in agreement with Nick Martinez on a two-year, $26MM guarantee, reports Jeff Passan of ESPN (X link). The deal allows the right-hander to opt out after the first season. Yusseff Diaz of Pelota Cubana first reported that Martinez, a client of the Boras Corporation, was signing with Cincinnati.

Martinez, 33, has spent the past two seasons in San Diego. After a three-year run at Japan’s highest level, he signed with the Padres during the 2021-22 offseason. Technically a four-year guarantee, the deal afforded Martinez an opt-out chance after each year. He turned in a 3.47 ERA over 106 1/3 innings in a swing role during the first season and elected to retest free agency.

He parlayed that free agent trip into a new three-year pact with the Friars. Martinez locked in a $10MM salary for this past season, while each side had a two-year option covering the 2024-25 campaigns. He posted a remarkably similar year to his debut campaign as a Padre.

As was the case in 2022, Martinez went into this past season battling for a rotation spot. He took four turns through the rotation while Joe Musgrove was on the injured list in early April. Once Musgrove returned, Martinez moved back into the relief role he had occupied for the majority of the previous season.

He would ultimately appear in 63 contests, starting nine of them. Martinez worked 110 1/3 innings, allowing 3.43 earned runs per nine. He struck out 23% of batters faced behind a solid 12.6% swinging strike percentage. Martinez demonstrated average control and kept the ball on the ground on nearly 54% of batted balls allowed. He excelled at staying off barrels, with opponents making hard contact (a batted ball hit 95 MPH or harder) less than 30% of the time. That contact suppression ranked within the top five percent of qualified pitchers, according to Statcast.

Over his two seasons in San Diego, he combined for a 3.45 ERA with a 22.1% strikeout rate across 216 1/3 frames. At year’s end, both he and the Friars turned down their respective option provisions. San Diego declined to retain him at $16MM annually for the next two seasons, while the player passed on successive $8MM salaries. He ultimately lands between those two price points, securing a $13MM average annual value. The guarantee is in line with MLBTR’s prediction of two years and $25MM. The opt-out affords him the flexibility to again get back to free agency a year from now if he turns in a strong season in Cincinnati.

Whether he decides to retest free agency likely depends on how well he holds up over a full season as a starter. The Friars never quite entrusted him with an extended rotation run. Martinez has started only 19 of his 110 appearances since his return to MLB. There hasn’t been a material difference in his run prevention in either role. Martinez owns a 3.48 ERA in 91 relief outings over the past two seasons; he has allowed 3.41 earned runs per nine as a starter.

As one might expect, he has had better underlying marks when working in shorter stints. Martinez’s strikeout rate is a couple points higher out of the bullpen (23% against 20.9%). He has been much better at avoiding free passes as a reliever, walking 7.1% of batters faced in that role compared to an 11.2% rate from the rotation.

Regardless of the slightly worse peripherals, it’s not outlandish to project Martinez as a viable starting pitcher. He has a far deeper repertoire than the typical reliever, turning to five pitches (sinker, changeup, curveball, cutter, four-seam fastball) with regularity. Martinez was effective this year in the few opportunities he received to turn an opposing lineup over a second or third time. He has held his own in unfavorable platoon situations, keeping left-handed batters to a reasonable .242/.322/.408 line since the start of 2022.

Martinez should get a look in Cincinnati’s Opening Day starting five. The Reds had one of the sport’s least effective rotations, finishing 28th in MLB (ahead of only the A’s and Rockies) with a 5.43 ERA. The rotation’s ineffectiveness was the single biggest reason for the team coming up a little shy of the postseason. Addressing the group was a clear priority for GM Nick Krall and his staff heading into the offseason.

Hunter Greene and Andrew Abbott headline the in-house options. Nick Lodolo’s 2023 campaign was wrecked by left leg injuries, but he’ll surely have a rotation spot so long as he’s healthy. Graham Ashcraft projects as the #5 starter after overcoming a disastrous first half to turn in a 2.81 ERA from the All-Star Break onward. Brandon Williamson, who pitched to a 4.46 ERA over 117 innings as a rookie, would be the top depth option. Prospects Connor Phillips and Lyon Richardson each made brief big league appearances late in the year.

It’s not a group without talent, but no team can count on its top five or six starters staying healthy for an entire season. Greene and Lodolo have each missed extended chunks of action over the past two years. Abbott and Williamson have yet to play a full season at the MLB level. Martinez doesn’t have an extended track record of starting. The front office could still look for another arm to solidify the group. They’ve been linked to each of Tyler Glasnow and Shane Bieber on the trade front. Signing Martinez doesn’t necessarily take them out of that market.

Paired with Wednesday afternoon’s signing of reliever Emilio Pagán to a two-year, $16MM deal, this is the most active that Cincinnati has been in free agency for the past few seasons. As reflected on MLBTR’s contract tracker, the Reds hadn’t signed a free agent to a multi-year contract since adding Nick Castellanos on a four-year pact in January 2020. Where ownership sets the spending limit remains to be seen, but there should still be some financial flexibility.

Roster Resource projected the Reds’ 2024 payroll commitments in the $58MM range before the Martinez deal. If the money is evenly distributed — the contract’s specific financial breakdown remains unreported — it’d bring them around $71MM. The club opened the 2023 season with a player payroll approaching $83MM and was well above $100MM in the two preceding seasons.

Image courtesy of USA Today Sports.

Michael Wacha Opts Out; Padres Give Qualifying Offers to Blake Snell, Josh Hader

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The Padres have extended qualifying offers to free agent lefties Blake Snell and Josh Hader, reports AJ Cassavell of MLB.com. The club also announced a batch of transactions, which includes each of Michael Wacha, Seth Lugo and Nick Martinez electing free agency. Meanwhile, Matt Carpenter exercised his player option to stick with the club. Additionally, the club outrighted right-hander Nick Hernandez and claimed right-hander Jeremiah Estrada off waivers from the Cubs.

The decisions of Lugo and Martinez were previously reported, as was the news on Carpenter. As for Wacha, it was reported on the weekend that the club was declining a two-year option to retain him for 2024-25. Wacha then had the opportunity to trigger a $6.5MM player option for 2024 but has now turned that down.

Wacha signed a four-year deal with the Padres, though one with a convoluted structure. The club would first have to decide on a two-year, $32MM option for the 2024-25 seasons, which they declined. Wacha then had three straight player options which could have paid him $6.5MM in 2024 and then $6MM in the following two seasons. But he has now turned that down, leaving three years and $18.5MM on the table in search of a new deal.

Although he was largely injured and/or ineffective for much of the 2018 to 2021 period, Wacha has now had two straight solid seasons. He posted a 3.32 ERA with the Red Sox in 2022 and a 3.22 mark in his first season in San Diego. Injuries still limited his total volume of work, as he logged 127 1/3 innings for the Sox and 134 1/3 for the Friars, but the combination of workload and effectiveness was nonetheless the best form he’s showed in years.

He’ll now head back to free agency in search of his next deal. The starting pitching market is headlined by guys like Snell, Yoshinobu Yamamoto, Aaron Nola and Jordan Montgomery but Wacha will be somewhere in the tie of solid mid-rotation or back-end guys, alongside Lugo, Jack Flaherty and Mike Clevinger.

The fact that Snell and Hader received $20.325MM qualifying offers is no surprise. The two of them are going to be some of the top available free agents this winter, making them a lock to reject them, something recently highlighted by MLBTR. Snell posted a 2.25 earned run average in 2023 and could receive the second Cy Young Award of his career in the coming days. Hader has long been one of the most dominant relievers in the league and had a 1.28 ERA in the season that just ended. Both should be able to receive nine-figure contracts even with a QO attached.

Any impending free agent can receive a qualifying offer as long as they spent the entire season with just one club and haven’t received a QO before. If Hader and/or Snell sign with other clubs after rejecting the QO, the Padres will receive draft pick compensation.

The departures of Wacha, Snell, Lugo and Martinez will leave the Padres fairly short-handed in their rotation. They still have Yu Darvish and Joe Musgrove but they are followed on the depth chart by unproven options like Matt Waldron, Jay Groome, Adrián Morejón and Pedro Avila. They will presumably be looking to add to that group but will have to do so while juggling significant financial concerns.

Hernandez, 29 next month, was just added to the roster in September. He made two appearances, allowing four earned runs in three innings, giving him a career ERA of 12.00 in that tiny sample. He threw 61 innings in the minors in 2023, split between Double-A and Triple-A, with a 3.84 ERA, 32.7% strikeout rate and 8.4% walk rate. Any of the 29 other clubs could have added him to their roster today but decided to pass.

Estrada, 25, made 17 appearances for the Cubs over the past two seasons with a 5.51 ERA in that time. His 25.9% strikeout rate is a bit above average but his 18.5% walk rate is concerning. That’s generally been a pattern in the minor leagues as well, with Estrada striking out 31.2% of hitters at Triple-A in 2023 but walking 18.8%. He is still optionable next year, so the Padres will add some pitching depth that comes with roster flexibility, while they will presumably try to help Estrada improve his control going forward.

Image courtesy of USA Today Sports.

Padres, Nick Martinez Decline 2024-25 Options

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The Padres and Nick Martinez have each declined their simultaneous options on the right-hander’s services for the 2024-25 seasons, Kevin Acee of the San Diego Union-Tribune reports, and Martinez is now a free agent.

Martinez re-signed with San Diego last winter on a contract that is now ultimately a one-year, $10MM pact, though it represented three years and $26MM in guaranteed money.  Following this season, the Padres had to decide whether or not to exercise $16MM options on Martinez for both the 2024 and 2025 seasons.  If the Padres rejected those club options, they turned into player options worth $8MM apiece, and Martinez then had to decide whether or not to exercise both years’ worth of options at once.

This rather complicated setup ended up being pretty simple, since both sides declined the two years’ worth of options and Martinez will head back into the open market.  Though the Padres have some holes to fill in their rotation this winter, it seemed like retaining Martinez wasn’t too likely, as he had mostly worked as a reliever over his two seasons with the team.  The $32MM price tag for a pitcher who might be best suited for swingman work might’ve also been too pricey for a San Diego franchise that looks to be cutting costs to some extent in 2024.  If the payroll will indeed be pared down to a relatively smaller $200MM figure, Martinez could’ve been seen as a luxury.

The 33-year-old Martinez has taken an interesting career path, starting his MLB career pitching with the Rangers from 2014-17 before heading to Japan in search of a revival.  Those four years in Nippon Professional Baseball led to improved results, and the Padres signed Martinez to a four-year, $25.5MM guarantee prior to the 2022 season.  This was another option-heavy contract, as Martinez had the ability to opt out after each of the deal’s first three seasons, and he took that first opt-out last winter before re-signing with San Diego on his $26MM contract.

Martinez’s second stint in the majors has gone much more smoothly than his time in Texas, as the righty has a 3.45 ERA in 216 2/3 innings and 110 appearances since the start of the 2022 campaign.  Martinez has started 19 of those 110 games, while posting a 22.1% strikeout rate, 8.9% walk rate, and an impressive 50.6% walk rate.  Martinez had better numbers as a reliever than as a starter in 2022, and vice versa in 2023.

The Padres have just enough injury problems to create some openings for Martinez to receive looks as a starting pitcher, even if San Diego’s general surplus of arms mostly kept Martinez limited to bullpen work.  As such, he is an intriguing pitcher to watch this offseason, with the added wrinkle that Martinez has changed representation and is now represented by the Boras Corporation (as per Dennis Lin and Ken Rosenthal of The Athletic).

It stands to reason that Scott Boras will shop Martinez first as a proper starter, to maximize his possible earnings.  Since Boras is no stranger to complex contracts, so he might seek out another option-heavy type of deal for his new client with options or different incentive bonuses or price points tied to usage — appearances, innings pitched, games finished, etc.  It’s possible such a deal might come from the Padres once again, given how they already reunited with Martinez after his opt-out last winter, and how the Padres are in need of rotation help.

Seth Lugo also opted out of his deal with San Diego, and the Padres haven’t yet revealed how they’ll approach Michael Wacha’s club option, which is structured in relatively similar fashion to Martinez’s deal.  Blake Snell is also headed for free agency, leaving Joe Musgrove and Yu Darvish as the only two sure things for next year’s rotation.  It’ll be tricky for president of baseball operations A.J. Preller to find pitching while still keeping the payroll in check, and it could be that the Padres might consider adding arms when exploring potential trades involving some higher-salaried players (such as Juan Soto.

Looking Ahead To Upcoming Club Options: NL West

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We’re roughly a third of the way through the 2023 season. Players have had a couple months to build something of a performance track record that’ll play a role in their future contracts. With that in mind, MLBTR will take a look over the coming days at players whose contracts contain team or mutual options to gauge the early trajectory for those upcoming decisions.

We’ll go division by division and open things in the National League West:

Arizona Diamondbacks

Chafin lingered in free agency over the winter after opting out of his deal with the Tigers. The seeming lack of market interest was perplexing given the lefty reliever’s consistent effectiveness over the past few seasons. He’s carried that over into his second stint in the desert. Through 20 1/3 innings, Chafin owns a 3.10 ERA. He’s punched out 36% of opposing hitters on a huge 16.2% swinging strike percentage, both of which would be career-high marks. He’s not a prototypical fireballing reliever but he’s demonstrated he’s capable of missing bats and thriving in high-leverage situations for the past few years. The $6.5MM net decision on next year’s option looks more than reasonable if he keeps this up.

  • Zach Davies: $5.5MM mutual option ($300K buyout, rises to $500K with 16+ starts)

Davies has been limited to three starts by a left oblique strain. He has allowed eight runs with a modest 10:8 strikeout-to-walk ratio over 12 2/3 innings. There’s not much to go on yet in terms of 2023 performance but Davies looked like a borderline fifth starter the previous two years. The Diamondbacks have enough young pitching they seem likelier to buy him out unless the soft-tossing righty rediscovers his 2019-20 form for the stretch run.

  • Miguel Castro: $5MM option vests with 60+ appearances; would become $6MM player option with 40+ games finished (no buyout)

Castro has already pitched 26 times since signing with Arizona over the winter. He’s on pace to easily surpass the 60-appearance threshold needed to vest next year’s $5MM option if he can avoid the injured list. It could be a closer call as to whether he can turn that guaranteed $5MM salary into a $6MM player option; Castro has finished 12 games thus far, putting him just off the 40-game pace he’d need to do so. (He’s on pace for 36 games finished). Castro has been effective — a 2.22 ERA with roughly average strikeout, walk and swinging strike numbers through 24 1/3 innings — so vesting the player option and retesting the market isn’t out of the question.

Melancon struggled to a 4.66 ERA in 56 innings during his first season in Arizona. He hasn’t pitched this year on account of a Spring Training shoulder strain. Melancon might return in the second half but this is trending towards the team buying him out.

Colorado Rockies

Márquez underwent Tommy John surgery earlier this month. He’ll miss the majority of next season as he rehabs. A healthy Márquez would’ve made this an easy call for the Rockies to exercise but the procedure means they’ll buy him out. It wouldn’t be a surprise if the Rox try to bring him back on a lesser salary or a multi-year deal with an eye towards 2025.

Hand’s peripherals had fallen back between 2021-22 from his All-Star peak. He’s continued to keep runs off the board and seen a notable bounceback in his strikeout rate since a Spring Training deal with Colorado. Hand owns a 3.20 ERA through 19 2/3 frames while striking out 33.7% of batters faced on a decent 11.6% swinging strike percentage. The veteran southpaw has dominated left-handed hitters and is yet to allow a home run this season. If he maintains this form, he’ll be one of the top reliever trade candidates this summer. If Colorado hangs onto him, they could be faced with an interesting decision as to whether to keep him around for an extra $6.5MM next winter.

Los Angeles Dodgers

The Dodgers signed Muncy to a $13.5MM deal last summer even as he was amidst his worst season since landing in L.A. They’ve been rewarded with a massive bounceback showing. Muncy is tied for second in the majors with 17 home runs. He’s only hitting .208 but carrying a strong .340 on-base percentage thanks to an elite 15.8% walk rate. The $10MM price point would be an easy decision for the Dodgers if Muncy keeps up anything approaching this pace.

Los Angeles brought Hudson back last summer on the heels of a season-ending ACL tear. The veteran reliever hasn’t recovered as quickly from that procedure as he’d hoped. Hudson hasn’t pitched yet this season. He told reporters last night he’ll throw a bullpen session this week but is without a timeline for a return to game action (via Mike DiGiovanna of the Los Angeles Times). It remains to be seen how he’ll look when he takes the mound.

  • Alex Reyes: $3MM team option with escalators ($100K buyout)

The Dodgers took a $1.1MM flier on Reyes after he lost the 2022 season to shoulder surgery. He’s on the 60-day injured list and not expected to be a factor until around the All-Star Break. This one remains to be determined based on his post-rehab form.

  • Blake Treinen (option value between $1-7MM dependent on time spent on IL)

Treinen underwent surgery to repair the rotator cuff and labrum in his throwing shoulder last November. He won’t pitch much, if at all, this season. Treinen’s contract contains an option with a floating value between $1MM and $7MM depending on how much time he spends on the injured list and the issue that puts him on the shelf. Its precise value is yet to be determined, but MLBTR has confirmed it’ll land towards the lower end of that range given Treinen’s surgery.

San Diego Padres

  • Nick Martinez: team has two-year, $32MM option; if declined, Martinez has two-year, $16MM player option

Martinez has taken on a similar swing role as he served during his first year in San Diego. The right-hander started his first four outings and pitched reasonably well. He was nevertheless bumped back into relief thereafter. For the second consecutive season, Martinez has proven a key multi-inning arm out of the bullpen. He’s posted a 1.35 ERA with a quality 20:4 strikeout-to-walk ratio over 20 relief innings, holding opponents to a pitiful .240/.278/.267 batting line.

There’s little question of Martinez’s effectiveness in a relief role, though a $16MM average annual value could be pricy if the organization isn’t planning on giving him another look out of the rotation. Perhaps Martinez’s production over the final four months makes this a clearer decision for San Diego by season’s end. As of now, it looks like a borderline call — not too dissimilar from Martinez’s question of whether to opt out of three years and $18MM last winter. The Padres liked him enough to subsequently re-sign him to a $26MM guarantee with the complex option structure.

  • Michael Wacha: team has two-year, $32MM option; if declined, Wacha has $6.5MM player option (with successive player options for 2025-26)

Wacha lingered in free agency last winter. Clubs seemed reluctant to buy into his solid results for the Red Sox, a reflection of middling strikeout and ground-ball numbers. Since landing in San Diego, he’s basically repeating last year’s script. The run prevention is excellent; he’s allowed a 3.45 ERA through 57 1/3 innings over ten starts. Wacha is again throwing strikes and keeping runs off the board despite roughly average strikeout and swinging strike rates.

Maintaining a mid-3.00s ERA for a second straight season might build confidence in his ability to outperform ERA estimators that suggest he’s more of a solid #4 starter than a mid-rotation arm. That said, Wacha doesn’t look all that different now than he did three months ago, when he signed a four-year guarantee with a $6.5MM average annual value. A jump to the $16MM per-year range could be a tougher sell for San Diego, although there’s little doubt Wacha would opt out of the final three years and $18.5MM on his contract if he keeps pitching like this and the Padres decline their end.

San Francisco Giants

Cobb has pitched well since signing a two-year deal with San Francisco over the 2021-22 offseason. He carries a 3.05 ERA through his first 11 starts this year. Cobb’s 60.6% ground-ball rate is stellar and he’s posted average strikeout and walk numbers (21.3% and 6.7%, respectively). An $8MM net decision would be an easy call for the Giants to exercise if Cobb maintains this pace. He’s dealt with injuries in the past but managed 149 2/3 innings over 28 starts last year and has avoided the IL in 2023.

All stats through play Monday.

Padres Reinstate Joe Musgrove From 15-Day Injured List

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The Padres reinstated right-hander Joe Musgrove from the 15-day injured list, as Musgrove is slated to make his season debut in a start against the Diamondbacks tonight.  In the corresponding move, San Diego optioned righty Reiss Knehr to Triple-A.

Musgrove fractured the big toe on his left foot after an accident in the weight room in late February, and then suffered a minor shoulder injury during a rehab start that further delayed his return.  However, Musgrove only ended up missing roughly an extra week, and he now looks ready to go in his customary spot atop San Diego’s rotation.

Naturally, getting Musgrove back only further strengthens a Padres team that also got Fernando Tatis Jr. back the lineup after his PED suspension expired earlier this week.  Between these absences and several other injuries, it perhaps isn’t surprising that the Padres have gotten off a lackluster start, with only a 10-12 record heading into today’s action.

Musgrove will rejoin the rotation just as the Padres are about to enter a relatively light portion of their schedule, as from April 24 to May 29, the Padres have seven off-days.  As a result, San Diego will move to a five-man rotation of Musgrove, Yu Darvish, Blake Snell, Seth Lugo, and Michael Wacha, with Nick Martinez joining Ryan Weathers as bullpen reinforcement.  Kevin Acee of the San Diego Union-Tribune writes that the Padres’ plan is to try and keep Martinez somewhat stretched out in long relief roles, so make it easier for Martinez to step back into the rotation in the event of an injury or a rest day for one of the starters (possibly Lugo, who is still being re-acclimated to starting work after pitching as a reliever for the last few years).  Weathers could also be a multi-inning weapon out of the pen.

It’s probably unlikely that the projected starting five will last the rest of the season without another IL stint, so Martinez or Weathers are surely going to get more starts before 2023 is over.  At least in the short term, however, their usage in the bullpen will greatly help a relief corps that has been shorthanded by injuries.

2023-24 Player Option/Opt-Out Update: April Edition

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Not long ago, any given year in Major League Baseball might have seen a handful of players have player options to decide upon at the end of a season. Opt-out clauses have slowly worked their way into normalcy among contract negotiations, however, and what was once a perk typically reserved for star players has become more commonly used as a means of either sealing a deal with mid-range free agents or in many instances, gaming the luxury tax. Player options are considered guaranteed money, after all, so it’s become common for clubs on the precipice of luxury penalization to negotiate complex player options that tamp down a contract’s average annual value even though they’re unlikely to ever be exercised.

For the purposes of this look around the league, there’s little sense in separating opt-outs from player options. The two are effectively the same, though “opt-out” typically refers to an out clause where there are multiple years remaining on the contract and “player option” generally refers to an individual decision on the forthcoming season. Both are considered guaranteed money for luxury purposes, and both ultimately come down to the player’s preference, risk tolerance, etc.

At their core, opt-out provisions aren’t particularly different from the much longer-accepted club options that teams have negotiated for years. Teams guarantee a certain number of dollars over a certain number of years, and if the player continues performing at a high enough level, they’ll exercise a club option that’s typically locked in at a below-market price. If not, the player will be bought out and sent back to free agency. Player options and opt-outs are merely the inverse; the player/agent negotiate a certain length and annual value but reserve the right to opt back into the market if the player continues to perform at a high level. It’s two sides of the same coin.

There are more players with the opportunity to opt out of their contract this offseason, by way of a one-year player option or a multi-year opt-out, than ever before. As such, we’ll be keeping tabs on these situations throughout the season. Short of a major injury, performance this early in the season isn’t likely to have a major impact on a player’s likelihood of opting out or forgoing that right, but it’s worth listing out which players will have the opportunity, what their contracts look like, and at least taking an early glance at how they’re performing.

Note: All stats through play on Tuesday.

Position Players

  • Tucker Barnhart, C, Cubs ($3.25MM player option): Barnhart’s deal was announced as a two-year, $6.5MM contract, though he also obtained the right to opt out after 2023, effectively rendering 2024 a player option. He’s 5-for-16 with a walk and four strikeouts through just 17 plate appearances as the backup to Yan Gomes. Barnhart got this guarantee on the heels of a dismal .221/.287/.267 showing with the Tigers in 2022, so with even a decent season he’ll have reason to opt out and try his luck again amid a thin group of free-agent catchers.
  • Josh Bell, 1B/DH, Guardians ($16.5MM player option): Bell limped to the finish line with the Padres after being traded over from the Nationals alongside Juan Soto in last summer’s blockbuster, and he hasn’t yet found his footing in 76 plate appearances with the Guardians. It’s a small sample, but Bell’s .203/.316/.344 slash looks quite similar to the .192/.316/.271 he mustered with San Diego in 2022. Bell hit 37 homers in 2019 and 27 in 2021, but he hits the ball on the ground far too often for someone with his power and lack of speed. Only one qualified hitter in MLB (Masataka Yoshida) has a higher ground-ball rate than Bell’s staggering 66.7% mark.
  • Trey Mancini, 1B/OF, Cubs ($7MM player option, if he reaches 350 plate appearances): Like Bell, Mancini saw his offensive production crater following a deadline trade (to the Astros) last summer and has not yet recovered in a new setting. Through 60 plate appearances, he’s hitting just .196/.220/.250. While his contract is a two-year, $14MM deal, Mancini can opt out if he reaches 350 plate appearances (i.e., the second year becomes a player option). He isn’t hitting yet, but Mancini is playing regularly and appears to be trending toward earning that right.
  • Javier Baez, SS, Tigers (can opt out of remaining four years, $98MM): After turning in a tepid .238/.278/.393 batting line in 590 plate appearances during his first season as a Tiger, Baez would need quite the season to walk away from this kind of cash. So far, he’s hitting .193/.254/.246 in 64 trips to the plate, however. When Baez gets hot, he can go on hot streaks for the ages, but he certainly doesn’t look like he’ll be opting out at season’s end.
  • Justin Turner, 3B/DH, Red Sox ($13.4MM player option): Turner hasn’t found his power yet in Boston, but he’s out to a .277/.385/.385 start with nearly as many walks as strikeouts. His $13.4MM player option comes with a hefty $6.7MM buyout. He’ll turn 39 in November, but as long as he hits reasonably well, he should have more earning power than that $6.7MM net decision.
  • Jorge Soler, OF/DH, Marlins ($9MM player option): Soler’s three-year, $36MM deal in Miami pays him $12MM in 2022, $15MM in 2023 and $9MM in 2024, but he had the right to opt out after each season of the deal. He hit just .207/.295/.400 with 13 homers in 306 plate appearances last year, so there was no way he was taking the first opt-out. He’s already clubbed five dingers in 62 plate appearances in 2023. His .263/.323/.649 slash translates to a 155 wRC+, and his exit velocity and hard-hit rate are through the roof, so his .256 average on balls in play should at least hold steady. Soler is an extremely streaky hitter, so time will tell how much of this early heater he can sustain, but there’s plenty to like about his start, including a reduced strikeout rate.
  • Michael Conforto, OF, Giants ($18MM player option, if he reaches 350 plate appearances): As with Mancini, Conforto is on a two-year deal but gains the right to opt out after one year if he reaches 350 plate appearances. You can call it an opt-out or a player option, but it’s the same mechanism; if Conforto is healthy, he’ll likely get the right to opt out. So far, he’s hitting .220/.373/.439 with a trio of homers in 51 trips to the plate. Conforto has walked nine times in those 51 plate appearances (17.6%), and his chase rate is actually down, so he still has good knowledge of the zone. However, a year-long layoff due to shoulder surgery is perhaps making itself known with a 74.5% contact rate on pitches in the strike zone, as that’s nearly 10 percentage points below his career mark of 84%. Unsurprisingly, Conforto’s 31.4% strikeout rate is a career worst. Some rust was inevitable, though, and the plate discipline and hard contact when he has made contact (94.4 mph exit velo, 52.5% hard-hit rate) are encouraging.
  • Matt Carpenter, 1B/DH, Padres ($5.5MM player option): Carpenter’s stunning return with the Yankees last year was one of the best stories of the summer, but he’s out to a sluggish .152/.317/.273 start with the Padres. He’s chasing off the plate at a 30.3% clip after doing so at a 20.7% rate last summer, and his contact rate on swings off the plate has plummeted from 62.5% to 36.4%. It’s a small sample and there’s time to turn things around, of course, but he’s had a tough start.

Pitchers

  • Andrew Heaney, LHP, Dodgers ($13MM player option): Heaney’s first Rangers start was one to forget (seven earned runs), but his second start was dominant, as he tied an AL record by fanning nine consecutive hitters. If Heaney tops 150 innings and doesn’t finish the year with an injury that’d likely keep him out for the first 60-plus innings of the 2024 season, the value of that player option jumps to $20MM. He hasn’t reached 150 innings since 2018.
  • Seth Lugo, RHP, Padres ($7.5MM player option): Lugo’s return to the rotation has been solid. He’s posted a 2.70 ERA through 16 2/3 frames with strikeout and walk ratios that look similar to his numbers out of the bullpen (24.3% strikeout rate, 7.1% walk rate). It’s anyone’s guess how many innings Lugo will tally after throwing just 228 innings combined from 2019-22, when he was primarily a reliever, but a solid run out of the rotation will position him to turn down that player option in search of a multi-year deal in free agency.
  • Sean Manaea, LHP, Giants ($12.5MM player option): The early ERA isn’t much to look at (4.76 in 11 1/3 innings), but the Giants have Manaea averaging 94.7 mph on his four-seamer. That’s a career-high by a wide margin, as he sat 91.7 mph on a now-scrapped sinker in 2021-22 and 91.1 mph on his four-seamer in 2017-20. Any major velocity gain of this nature is worth keeping an eye on.
  • Nick Martinez, RHP, Padres (team has two-year, $32MM club option; if declined, Martinez has two-year, $16MM player option): Martinez’s strikeout rate, walk rate, home-run rate and velocity have all gone the wrong direction through his first three starts. It’s just 17 2/3 innings, so it could be rendered a footnote if he rebounds and the Padres pick up their hefty option on the righty. Still, it’s not the start he or the Padres wanted.
  • Eduardo Rodriguez, LHP, Tigers (can opt out remaining three years, $49MM): E-Rod hasn’t missed bats anywhere near his Boston levels since signing with the Tigers. The lefty still showed good command both in 2022 and so far in 2023, but his 8.7% swinging-strike rate and 20.4% strikeout rate are well shy of the respective 11.6% and 26% marks he posted in his final four years with the Red Sox. Rodriguez’s velocity in 2023 is back up after a slight dip in 2022, but if he can’t get back to missing bats at his prior levels it’ll be an easy call for him to forego that opt-out provision.
  • Max Scherzer, RHP, Mets ($43.333MM player option): Scherzer hasn’t gotten out to his best start, but he posted a 2.29 ERA with gaudy strikeout and walk rates (30.6% and 4.2%) in 145 1/3 frames with the Mets in 2022. He was at the center of controversy after being ejected from today’s start after failing a foreign substance check, though that’s not likely to have any effect on his opt-out decision. Scherzer has already suggested that his opt-out was negotiated in part to ensure that he’d have an opportunity to look elsewhere if the Mets didn’t remain fully committed to winning. That hasn’t been the case under owner Steve Cohen, who’s currently financing the largest payroll and luxury-tax bill in MLB history.
  • Ross Stripling, RHP, Giants ($12.5MM player option): Stripling has been ambushed for 10 runs in his first 12 1/3 innings of work and had been set to operate primarily out of the bullpen before the injury to Alex Wood. It’s not a great start considering the weighty $25MM guarantee on his deal, but he has time to turn things around. A stunning six of the 13 fly-balls Stripling has yielded in 2023 have cleared the fence for a home run, and that rate will surely stabilize over a larger sample. Still, if he’s relegated to long-relief duty for too long, it’ll become difficult for him to even consider his opt-out.
  • Marcus Stroman, RHP, Cubs ($21MM player option): Stroman took a rather atypical contract structure for a 31-year-old free agent, inking a three-year guarantee at a premium annual value with an opt-out after year two. It’s more common to see pitchers that age push for the longest deal possible, but it might work out in Stroman’s favor. He’ll bank $50MM through the contract’s first two seasons, and after a nice 2022 season (3.50 ERA, 3.74 SIERA in 138 2/3 innings), he’s come roaring out of the gates with a 0.75 ERA and vastly improved 26.9% strikeout rate through his first 24 frames. Stroman’s walk rate is also up, and it’s all a small sample for now anyway, but it’s a promising start all the same. He’ll turn 33 in 2024, and if he continues anywhere near the pace he’s set since 2019 (3.15  ERA in 520 innings), he should have no problem topping that $21MM in free agency. He’ll also be ineligible for a qualifying offer, having already received one earlier in his career.
  • Michael Wacha, RHP, Padres (two-year, $32MM club option; if declined, Wacha has $6.5MM player option and $6MM player options in 2025-26): Wacha’s four-year, $26MM deal was effectively just the Padres manipulating the luxury tax by meeting Wacha’s price tag on a multi-year deal but spreading out the term to tamp down the AAV. Wacha’s total guarantee is the type of money one might’ve expected him to land over a two- or perhaps three-year term. By spreading it to four, the Padres could end up avoiding the third luxury-tax bracket. Wacha has a 6.06 ERA through three starts and posted an ERA of 4.76 or worse each season from 2019-21. If he can wind up replicating his strong 2022 results, the Padres might consider picking up their end of the option, but the likelier scenario is that they decline, leaving Wacha with a remaining three years and $19MM, but opt-outs after each season.
  • Chad Green, RHP, Blue Jays (three-year, $27MM club option; if declined, Green has $6.25MM player option; if both decline, team has two-year, $21MM option): Green may have the most convoluted contract of the entire free-agent class. That’s reflective both of his considerable talent and the broad range of outcomes as he works back from last May’s Tommy John surgery. We won’t know have an inkling of how this’ll play out until at least the summer, as Green needs to finish off his rehab. If he can return to peak form (1.83 ERA, 40.7% strikeout rate, 6.7% walk rate) for three or so months down the stretch, perhaps the Jays would actually consider the three-year, $27MM option. But that’s premium setup man money, and Green will be coming back from a year-long absence with a major surgery on his recent resume. He’ll have a $6.25MM player option if that three-year team option is declined, and that seems far more plausible. The two-year, $21MM option if both parties decline their first options feels only slightly more viable than the Jays’ original 3/27 decision.

Padres Notes: Rotation, Wacha, Engel

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Padres right-hander Joe Musgrove is expected to make his final rehab start today for the organization’s Single-A affiliate, as noted by Kevin Acee of the San Diego Union Tribune. That would put Musgrove on track to return to the Padres sometime later this week, a welcome development for a club that has seen its current six-man rotation set-up lead to an overly taxed bullpen.

With only seven relievers on the roster, the club needs its starters to be able to go deeper into games and cover more innings, but that hasn’t been the case early in the season. San Diego starters have failed to complete six innings in nine of the club’s 16 games this season, with just three starts lasting into the seventh inning. The return of Musgrove, who pitched at least six innings in 22 of his 30 regular season starts last season, should help relieve some of the load off the bullpen, but the question remains as to who Musgrove will replace in the rotation.

Ken Rosenthal suggested on FOX Sports yesterday that right-hander Nick Martinez could head to the bullpen as the odd man out, while Jeff Sanders of the San Diego Union Tribune suggested that it could be young left-hander Ryan Weathers who is either optioned to Triple-A or pushed to the bullpen in order to make room for Musgrove, though Sanders notes that the club’s schedule, which includes two off-days in the final week of April and five throughout the month of May, could make the current six-man rotation setup untenable in the longer term and force the club to look at moving Martinez or righty Seth Lugo to the bullpen.

Weathers, 23, struggled to a 5.49 ERA with a 5.42 FIP the past two seasons, with all of that work except for a single 3 2/3 inning spot start coming during the 2021 campaign. He’s done well so far in 2023, posting an strong 2.70 ERA in two starts (10 innings) so far this season, though he’s struck out just five batters so far and failed to record an out in the sixth inning. By contrast, Martinez has struggled in terms of run prevention, with a 5.60 ERA across three starts, but has been able to go deeper into games, failing to make it out of the fifth inning just once while recording six and seven innings in his other two appearances.

More from San Diego…

  • As noted by Chris Cotillo of MassLive.com, Padres right-hander Michael Wacha entered the offseason hoping to return to the Red Sox, for whom he posted a 3.32 ERA in 127 1/3 innings in 2022. Cotillo notes that the Red Sox never appeared close to re-signing the 31 year-old righty, who eventually signed in San Diego on a complex four-year, $26MM deal with multiple team and player options involved. Wacha noted that Boston expressed interest in retaining him for the 2023 season, but ultimately did not get into specifics of his negotations with the club, saying that “you might have to ask [Red Sox GM Chaim Bloom] about that one.” That being said, Wacha did note the importance of San Diego’s willingness to offer a multi-year deal held in his ultimate decision to sign with the club.
  • As noted by Sanders, outfielder Adam Engel, who’s been sidelined to this point in the season with a hamstring injury. began a rehab assignment in Triple-A yesterday. With David Dahl having recently joined Engel on the injured list, the club’s outfield depth has been tested, with the likes of Rougned Odor and Brandon Dixon making recent starts in the outfield alongside Juan Soto and Trent Grisham. Engel’s impending return should provide some much-needed support to the Padres outfield, as should Fernando Tatis Jr., who is set to return from his suspension later this week.

Each MLB Team’s Players On WBC Rosters

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The World Baseball Classic is returning this year, the first time since 2017. The quadrennial event was supposed to take place in 2021 but was scuttled by the pandemic, now returning after a six-year absence. Rosters for the tournament were announced today and those can be found at this link. Here is a breakdown of which players from each MLB team are set to take participate. Quick caveat that this list is fluid and might be changed as more information becomes available.

Without further ado…

Angels

Astros

Athletics

Blue Jays

Braves

Brewers

Cardinals

Cubs

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