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Shota Imanaga

Latest On Red Sox Pitching, Trade Discussions

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Craig Breslow’s first offseason as Boston’s chief baseball officer has been marked by one notable free agent signing (Lucas Giolito’s two-year, $38.5MM deal) and several significant trades, with the likes of Tyler O’Neill and Vaughn Grissom joining the roster and Chris Sale, Alex Verdugo, and Luis Urias all leaving Fenway Park.  With more work on the pitching staff still to be done, the Boston Globe’s Alex Speier writes that the Red Sox could again turn to the trade market, though with some limitations on the scope of their talks.

Rather than pursue pitchers who are just under team control through the 2024 season (i.e. Corbin Burnes or Shane Bieber), Speier reports that the Sox are trying to acquire pitchers who have multiple years of control.  Naturally, such hurler come at a high asking price in trade talks, yet Boston is unsurprisingly wary about parting ways with its top prospects.  It doesn’t appear that any of Marcelo Mayer, Roman Anthony, or Kyle Teel are available in talks, though it isn’t clear if the Red Sox might be more open to dealing from the next tier down on their list of minor leaguers.  Speier cites outfielder Miguel Bleis and second baseman Nick Yorke as among the several other Sox prospects who have drawn trade interest from rival clubs.

Between these relatively lesser prospects and other potential younger trade chips on the big league roster, the Red Sox might be able to swing some kind of deal for a more proven upgrade, whether in the rotation or perhaps even somewhere else on the roster.  However, as Speier writes, “there’s little sense they’ll push in the chips to land an established top-of-the-rotation starter either via trade or free agency.  Further additions appear more likely in the middle or back of the rotation to improve depth and reliability.”

This isn’t markedly different from past reports about Boston’s offseason plans, though the Sox were at least somewhat engaged on enough big-ticket names (Yoshinobu Yamamoto, Jordan Montgomery, Blake Snell) to create the impression that the team was willing to splurge in the right circumstance.  Even with Montgomery and Snell still unsigned, it doesn’t look like the Red Sox will emerge as a real suitor unless either starter drops his asking price — though in that situation, one would imagine a lot of other clubs might also step up their pursuits.

One of the lingering questions of Boston’s offseason is how much Breslow has been authorized to spend, considering that some level of payroll limitation appears to be in place.  The Sox currently have approximately $177.5MM on the books for 2024 according to Roster Resource, so they’re pretty close to matching their $181.2MM Opening Day payroll from 2023.  That figure from last year ranked 12th in all of baseball, the first time in the 21st century that the Red Sox weren’t at least in the top ten in Opening Day spending.

This relative hesitation towards larger spending has manifested itself not only in the lack of movement on Montgomery or Snell, but also in Boston’s pursuit of Shota Imanaga.  Granted, it appears as though the league as a whole perhaps had some concerns over Imanaga’s viability as a Major League starter, given that his four-year, $53MM deal with the Cubs fell below industry expectations.  However, Imanaga’s contract could become a five-year, $80MM pact if the Cubs exercise a club option for 2028, and they’ll have to make that decision following the 2025 season and 2026 seasons or else Imanaga can trigger an opt-out clause.

The Red Sox also had interest in a more creative deal for Imanaga, but Speier reports that their offer included only two guaranteed years “with the potential for two additional vesting years.”  Imanaga will earn $23MM ($22MM in salary and a $1MM signing bonus) over his first two seasons in with the Cubs and Speier writes that Boston’s offer paid him more than that $23MM amount through 2025, though it isn’t surprising to see why Imanaga decided to take the Cubs’ offer.

There’s still plenty of offseason left for Breslow to make more moves, and an argument could be that made that the Red Sox roster is already looking better than it did in 2023.  That said, simply being better doesn’t necessarily translate to a team capable of contending for a championship or even a playoff berth, and patience is running thin amongst the fanbase after consecutive last-place finishes in the AL East.

Cubs Sign Shota Imanaga To Four-Year Deal

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The Cubs officially announced the signing of left-hander Shota Imanaga to a four-year contract. It’s reportedly a $53MM guarantee. The deal contains a fifth-year team option and could reach $80MM. The Cubs will need to decide after the 2025 and potentially ’26 seasons whether to exercise the option for 2028. If the club declines the option at either point, Imanaga would have the ability to opt out and become a free agent. He receives limited no-trade rights and would earn a full no-trade clause if the Cubs exercise either of their options.

On top of what they’ll pay Imanaga, the Cubs owe a posting fee to the Yokohama BayStars of Nippon Professional Baseball. That’ll initially be a $9.825MM sum and would increase if the team exercises the option and/or Imanaga unlocks more money via escalators. The Cubs would owe the BayStars an additional 15% of whatever money the southpaw earns beyond the initial guarantee.

It’s the first MLB free agent pickup of the offseason for the Cubs. It’s a big acquisition, as the southpaw is one of the more intriguing pitchers in this year’s class. That makes the financial terms unexpected. At the beginning of the offseason, MLBTR predicted a five-year, $85MM contract. Reporting in recent weeks had suggested he could top $100MM. Even with the conditional opt-out possibilities, a $53MM guarantee and an $80MM maximum value comes in below general expectations.

Imanaga has spent the past eight seasons with the BayStars in his home country. He owns a career 3.18 ERA in a league generally regarded as the second-best level in the world. Imanaga has turned in a 3.08 or better in each of the past three seasons, including a sub-3.00 figure for the last two years.

During the 2023 campaign, he allowed 2.80 earned runs per nine through 148 innings. He led all NPB hurlers with 174 strikeouts, narrowly topping Dodgers’ $325MM signee Yoshinobu Yamamoto in that regard. That’s an impressive 29.2% clip that’s well above the 22.1% MLB average. He paired that with a tidy 4% walk rate, ranking him among NPB’s best pitchers at dominating the strike zone.

Despite the strong strikeout and walk profile, Imanaga doesn’t come with the kind of excitement generated by Yamamoto. That’s in part due to age. Having turned 30 last September, Imanaga is a typical age for a first-time free agent starter. More importantly, his repertoire points more toward a projection as a solid mid-rotation arm than a potential ace.

Evaluators with whom MLBTR spoke before the offseason suggested Imanaga profiles as a #3/4 pitcher in a big league rotation. Baseball America’s Kyle Glaser pegged him as a #4/5 type in a scouting report from early December. The 5’10” hurler typically sits in the low-90s with his fastball, touching the 94-95 MPH range in shorter stints.

Evaluators have credited him with above-average life on the pitch, allowing it to play for whiffs at the top of the strike zone despite the pedestrian velocity. Glaser writes that Imanaga backs that up with an above-average split but suggests his MLB upside may be capped by middling breaking stuff.

The main concern in Imanaga’s statistical profile has been the longball. He surrendered 17 homers last season, the second-most of any NPB pitcher. While some of that is attributable to workload — he was 15th in innings pitched — it hints at a fly-ball profile that could give some evaluators pause. The Yankees reportedly stayed on the periphery of the bidding in part because of concerns that Imanaga wouldn’t profile well in a very hitter-friendly home park. Statcast’s Park Factors rate Wrigley Field as slightly favorable to home runs, but it’s not among the top handful of hitting venues in MLB.

Imanaga’s stellar strikeout/walk profile and consistently strong results generated a decent amount of reported interest. The Red Sox, Giants and Angels were all reported to be in the bidding of late. He’ll bypass those teams to step into a Chicago rotation that seems likely to lose Marcus Stroman to free agency.

Imanaga joins Justin Steele, Kyle Hendricks and Jameson Taillon as locks for the Opening Day rotation. The likes of Jordan Wicks, Javier Assad, Hayden Wesneski and prospect Ben Brown could battle for the #5 job. There’s still plenty of time for president of baseball operations Jed Hoyer and his front office to add another starter if they want to solidify the final spot and push all their younger, unproven arms into depth roles.

The fee to the BayStars is proportional to the contract value: 20% of the deal’s first $25MM ($5MM), 17.5% of the next $25MM ($4.375MM) and 15% of further spending ($450K). The 15% rate also applies to whatever future earnings Imanaga secures.

A posting fee is on top of the sum to the player but not included in the deal’s competitive balance tax calculation. The average annual value checks in at $13.25MM. According to Roster Resource, that’ll push the team’s CBT number north of $198MM. That’s nowhere near next year’s $237MM tax threshold. Evenly distributing the salaries would move the team’s 2024 payroll commitments to roughly $191MM — slightly beyond last year’s approximate $184MM Opening Day mark.

Bob Nightengale of USA Today first reported the Cubs had an agreement with Imanaga. Jon Heyman of the New York Post reported the presence of various escalators and option provisions and the deal’s $80MM maximum value. ESPN’s Jesse Rogers reported the four-year, $53MM agreement, as well as the club option/opt-out possibilities after years two and three. Patrick Mooney of the Athletic reported the no-trade provisions.

Image courtesy of USA Today Sports.

Pirates Showed Interest In Shota Imanaga

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Shota Imanaga’s 45-day posting window closes today, meaning the Cubs will likely announce his reported four-year contract in the near future. It’s known that the Chicago outbid a field of interested parties including at least the Giants, Angels and Red Sox, although multiple reports in the final days of Imanaga’s free agency suggested there were as many as five teams in the mix. ESPN’s Jesse Rogers now reports that the Pirates showed interest in the star NPB left-hander — a surprise entrant into the Imanaga market for a number of reasons.

On the one hand, word of interest that didn’t materialize in a deal can be waved off by many as inconsequential. Imanaga is headed to the Cubs, and he’ll spend anywhere from two to five seasons there, thanks to the complex nature of his contract. (Four years are guaranteed, but he has multiple opt-out chances and the Cubs can supersede those by picking up a fifth-year option after the 2025 season.) What’s done is done. Imanaga is not and will not be a member of the Pirates.

On the other, the Pirates are a genuinely surprising entrant into the Imanaga bidding. Signing him would’ve required the Bucs to commit the largest contract they’ve ever given to a pitcher; Francisco Liriano’s $39MM pact currently holds that distinction. That’s interesting in and of itself, but it’s also further intriguing in that their reported interest now makes it worth wondering whether the Bucs might have a bit more money to spend than most would’ve assumed. And, if that’s the case, it’s fair to consider that perhaps they’d be in play for other middle-tier starters who remain unsigned. The likes of Blake Snell and Jordan Montgomery still figure to be well beyond the Pirates’ price range, but there are still a few notable arms in the next tier down — Marcus Stroman, James Paxton, Michael Lorenzen, Hyun Jin Ryu and Cuban righty Yariel Rodriguez (who’s spent the past several seasons starring in NPB) among them.

Thus far, the Pirates have added lefties Martin Perez (one year, $8MM) and Marco Gonzales (acquired from the Braves for a PTBNL) to their rotation behind Mitch Keller. With right-hander Johan Oviedo undergoing Tommy John surgery earlier this offseason, however, there’s greater need beyond that trio — especially considering Gonzales’ own injury troubles this past season. Former top prospect Roansy Contreras took a step back in 2023 after a more promising 2022 showing, while prospect Quinn Priester had a rocky debut in 2023.

The Pirates will get righty JT Brubaker back from his own Tommy John procedure this year, but he’ll surely be eased back into the fold and will be on some level of innings limit. Right-hander Luis Ortiz and southpaw Bailey Falter are among the team’s other options in the rotation, and 2023 No. 1 overall pick Paul Skenes could make his MLB debut during the summer of 2024. That all gives the Bucs some depth, but with at least two rotation spots still in flux, there’s room for another arm to be added.

It’s possible that the Pirates viewed Imanaga as an exception of sorts, and that their interest in him will go down as little more than a footnote. It remains unclear, after all, whether they pursued him with any level of aggression or whether they were hoping to land him on a shorter-term pact that falls well shy of where he ultimately landed with the Cubs.

If the Bucs fill out their rotation internally or make another budget pickup to stuff some low-upside innings into their starting staff, the interest in Imanaga will quickly be forgotten. But it’s nevertheless interesting to see Pittsburgh punching north of its typical weight class in free agency. General manager Ben Cherington indicated earlier this offseason that the team’s payroll can be expected to increase — although last year’s $73MM Opening Day mark is quite a low bar to clear. The Bucs currently project for a payroll of about $70MM, per Roster Resource.

Latest On Shota Imanaga

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Jan. 9: Jon Heyman of the New York Post reports this morning that both the Giants and Angels now “appear to be looking elsewhere” (Twitter links). Heyman suggests that both the Red Sox and Cubs are “very much” still alive in the Imanaga bidding. That runs counter to reports from the weekend and from yesterday, though bidding on any free agent is, of course, quite fluid. Imanaga has a bit more than 48 hours remaining to come to terms with a team.

Jan. 8, 3:55pm: Chris Cotillo of MassLive reports that the Sox are considered a “long shot” to get Imanaga as things currently stand.

3:45pm: Star NPB left-hander Shota Imanaga will see his 45-day posting window come to a close on Thursday, meaning it’s only a matter of days before the 30-year-old will decide on his first big league team. Bidding for Imanaga has reportedly been strong, as he’s drawn interest from a wide range of teams thus far in his first foray into MLB’s open market. As the bidding period winds down, Imanaga’s market has unsurprisingly begun to take firmer shape.

Sankei Sports in Japan reports that the Angels and Giants are currently the leading candidates to sign Imanaga, although no decision has been made just yet. Similarly, MLB.com’s Mark Feinsand suggests that the Giants are emerging as the favorites to sign the southpaw, though Feinsand adds that each of the Angels, Cubs and Red Sox remain in the fold to some extent. While there’s still a number of ways which the left-hander’s final decision could go, it’s at least notable that Feinsand characterizes a final four of sorts, while the reports out of Japan have the field narrowed further yet.

The Giants and Angels are both strong fits for Imanaga, who’s expected to top countryman Kodai Senga’s five-year, $75MM contract with the Mets. San Francisco acquired former AL Cy Young winner Robbie Ray on Friday in a surprising trade with the Mariners, but Ray isn’t expected to pitch until midseason as he recovers from Tommy John surgery. Similarly, right-hander Alex Cobb will open the year on the injured list while recovering from October hip surgery.

That leaves the Giants with ace Logan Webb as the most (arguably only) solidified member of the rotation. Veteran Ross Stripling, top prospect Kyle Harrison and 2023 rookies Keaton Winn and Tristan Beck are among the candidates to round out the staff, but there’s a good deal of uncertainty beyond that group. It’s true that Imanaga himself comes with his own uncertainty — he’s untested against big league hitters — but MLB scouts are intrigued enough by him that some believe his contract could approach nine figures. Clearly, there’s a prevailing belief throughout MLB that Imanaga is a legitimate mid-rotation arm, at the least.

A few hundred miles to the south, the Angels are facing some rotation questions of their own. Reid Detmers, Griffin Canning and Patrick Sandoval are all locked into spots, although Detmers and Sandoval both had down 2023 showings relative to their 2022 performance. That’s even more true of veteran Tyler Anderson, who had an All-Star ’22 showing with the Dodgers before posting a 5.43 ERA in year one of a three-year, $39MM free agent deal with the Halos. The Angels recently took a low-cost flier on Zach Plesac and have reportedly been prioritizing Blake Snell in the wake of Shohei Ohtani’s departure, but Imanaga presents a mid-rotation option for them as well.

The Red Sox, meanwhile, will roll out a new-look rotation with or without Imanaga. Gone is oft-injured ace Chris Sale, who was shipped to the Braves (with cash) in exchange for second baseman Vaughn Grissom. He was quickly replaced by newly signed Lucas Giolito, who’s currently in line to be joined by some combination of Brayan Bello, Tanner Houck, Nick Pivetta, Garrett Whitlock and Kutter Crawford.

As for the Cubs, they’ve been MLB’s least-active team this winter — at least when it comes to actually pushing deals across the finish line. Chicago has been connected to a litany of free agents and a handful of trade targets, but thus far the Cubs haven’t added a single player to their roster aside from catcher Brian Serven, whom they claimed off waivers from the Rockies last week. Chicago’s rotation currently includes Justin Steele, Kyle Hendricks and Jameson Taillon, with veteran Drew Smyly and young arms like Hayden Wesneski, Jordan Wicks, Ben Brown and Javier Assad all in the mix for starts as well. It’s a relatively solid group, but the Cubs figure to make some kind of move to replace the outgoing Marcus Stroman.

Dating back to 2019, Imanaga boasts a 26.2% strikeout rate and 5.9% walk rate in addition to a cumulative 2.79 earned run average — including a no-hitter in the 2022 season. He’s not overpowering in terms of velocity, though MLBTR contributor Dai Takegami Podziewski noted back in September that he’d added some life to his heater and was averaging between 92-93 mph during the 2023 campaign. In addition to the guaranteed money owed to the pitcher himself, Imanaga’s new team will need to pay a release fee to his former team, the Yokohama DeNA BayStars, which would be equal to 20% of the contract’s first $25MM, plus 17.5% of the next $25MM and 15% of any dollars thereafter.

Red Sox Fielding Trade Interest In Masataka Yoshida, Kenley Jansen

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The Red Sox have received trade interest in left fielder Masataka Yoshida, report Jen McCaffrey and Ken Rosenthal of the Athletic. McCaffrey and Rosenthal write that while the Sox aren’t actively shopping Yoshida, they’re open to ways to restructure the outfield.

That aligns with a report from Alex Speier of the Boston Globe last week the Sox were considering dealing an outfielder. The Sox would have more suitors if they shopped an affordable, controllable player like Jarren Duran, Ceddanne Rafaela or Wilyer Abreu. Finding a suitable match on Yoshida would be more difficult, but it’s a possibility that’d clear some desired spending room.

Another move that’d allow the Sox to shed some money: a trade of closer Kenley Jansen. Speier reported this evening that Boston is entertaining interest in the four-time All-Star. Yoshida and Jansen were each free agent pickups last offseason.

Boston signed Yoshida to a five-year, $90MM contract. (They also paid a $15.375MM posting fee to Yoshida’s former team, the Orix Buffaloes.) It was a bet on the left-handed hitter transitioning smoothly to MLB pitching. The 30-year-old had mixed results in his first big league campaign. Yoshida hit .289/.338/.445 over 580 plate appearances. He showed strong strike zone awareness and excellent pure contact skills, yet it wasn’t an overwhelming offensive performance.

Yoshida hit 15 home runs and walked less than 6% of the time he stepped to the plate. Listed at 5’8″ and 176 pounds, he doesn’t have the raw power of a prototypical slugger. Yet the profile is built around his bat, as Yoshida has drawn below-average reviews for his glove dating back to his time in Japan. He’s limited to left field or designated hitter and received subpar grades from Defensive Runs Saved and Outs Above Average.

Detractors pointed to those defensive and power questions when Yoshida was available via the posting system last winter. The Sox, under former chief baseball officer Chaim Bloom, were confident he’d hit enough to overcome that. With Bloom having since been replaced by Craig Breslow, the front office might be less bullish on his projection.

Yoshida’s contract calls for $18MM salaries for the next four seasons. It’s unlikely he’d have landed a $72MM deal covering his age 30-33 campaigns if he were a free agent this winter. As a result, Boston would probably have to offset a chunk of the money to move him — either by including cash considerations or taking some money back in the deal.

Jansen would be a much different trade candidate. His $16MM salary next season isn’t far below what Yoshida will make. He’d be a much shorter-term commitment, though, as he’ll be a free agent after 2024. Jansen had a solid but not overpowering first season with the Sox, pitching to a 3.63 ERA over 44 2/3 innings. He struck out 27.7% of opponents, an above-average mark that nevertheless represented the lowest rate of his career. He still successfully nailed down 29 of 33 save chances, but he wasn’t quite as dominant as he’d been for the Dodgers or Braves.

Boston has a fair amount of depth in both the outfield and the bullpen. That at least opens the possibility of offloading cash in those areas to clear space for other targets. Speier wrote tonight the front office is still seeking starting pitching and a right-handed power bat.

The Sox have been tied to free agent Teoscar Hernández throughout the offseason. Meanwhile, Mark Feinsand of MLB.com reports that Boston is also among the team showing interest in Jorge Soler. Either player would provide plenty of juice from the right side. A Yoshida trade would open a path to playing time in left field or DH. However, Speier indicates the Red Sox have been unwilling to offer more than two guaranteed years to Hernández, who is holding out for a three-plus year pact. It’s unclear if they’d be open to a third year on Soler.

In any case, there are obviously a number of possibilities the front office is still considering. The Sox have also been tied to a number of free agent rotation options, including Blake Snell, Jordan Montgomery and Shota Imanaga. Recent reporting has indicated that Imanaga appears a more realistic target than Snell or Montgomery, although the NPB left-hander could top $100MM himself. Speier characterizes the Red Sox as “lurking” on Imanaga but indicates they may not be among the most involved suitors. The southpaw will make his decision before the posting window closes next Thursday.

Mets Showing Interest In Various Starting Pitchers

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The Mets are interested in rotation upgrades and appear to be casting a wide net in that search. Jon Heyman of The New York Post lists Hyun Jin Ryu, Sean Manaea and Shota Imanaga as pitchers they are considering. A report from Joel Sherman of The New York Post echoes those names while also adding Dylan Cease and Brandon Woodruff to the list.

The club has already made a couple of moves to bolster a rotation that has changed a lot in the past year. Max Scherzer and Justin Verlander were traded at last year’s deadline, then Carlos Carrasco reached free agency. The depth also took a hit when it was reported that David Peterson required hip surgery that would prevent him from being with the club at the start of the upcoming season.

That left Kodai Senga and José Quintana as the two leading incumbents at the start of the offseason, with pitchers like Tylor Megill and Joey Lucchesi also on hand as options. The Mets have signed since Luis Severino to a one-year deal and acquired Adrian Houser in a trade with the Brewers. Those two likely push Megill and Lucchesi into a battle for the fifth spot in the rotation, but Sherman relays that the club would like to add one more arm and push those two further into depth roles. Both pitchers are still optionable and don’t need to be on the active roster if the pitching staff if strengthened.

New president of baseball operations David Stearns is plenty familiar with Woodruff from his time in Milwaukee. He would be more of a long-term play though, unlikely to help the 2024 club too much. He underwent shoulder surgery in October and is slated to miss most of the upcoming campaign, which led the Brewers to non-tender him. But with the Mets looking at 2024 as a sort of transition year with an eye towards more aggressive contention in 2025, perhaps the two sides can line up on some kind of two-year deal. That would allow Woodruff to bank some money while rehabbing and then give the Mets the upside of bolstering their club next year.

If Woodruff can overcome his shoulder woes and return to his previous form, he would upgrade any rotation in the league. He has a career earned run average of 3.10 in 680 1/3 innings dating back to his 2017 debut. He has struck out 28.9% of batters faced in that time while walking just 6.5% of them and keeping 42.8% of balls in play on the ground. Health has been a bit of an ongoing issue, as he’s never been able to throw 180 innings in a big league season, but the results on a rate basis have clearly been excellent.

As for Cease, his ERA flared up to 4.58 in 2023 but his peripherals were still above average, including a 27.3% strikeout rate and 13.6% swinging strike rate. Over the past three years, he has made 97 starts with a 3.54 ERA and 29.8% strikeout rate. He tallied 12.6 wins above replacement over those three seasons, according to FanGraphs, which puts him eighth on the pitching leaderboard for that stretch.

He’s projected by MLBTR contributor Matt Swartz for a salary of $8.8MM this year and will be due one more raise before becoming a free agent after 2025. That means he will be paid way less than a pitcher of similar skill who is looking for a free agent deal, but it also means the White Sox are setting a very high asking price. It was reported last month that they asked the Reds for four of that club’s top prospects in exchange for Cease. The Reds seem to have given up on the pursuit, signing Frankie Montas instead.

For the Mets, giving up a significant prospect package like that would be a surprise. They have been open about their desire to build a strong prospect pipeline in order to ensure continuous contention and have been even more focused on the long-term plan this offseason. Though Sherman says the Mets continue to check in with the White Sox, the Mets aren’t considered as likely to land him as a team flush with prospects like the Orioles.

Ryu, 37 in March, would line up with the club’s offseason M.O., as they have given out one-year deals to Severino, Harrison Bader, Joey Wendle, Jorge López, Austin Adams and Michael Tonkin. It appears to be a strategy of spreading money around and improving depth while not committing any future money. It’s also possible that any player in this batch who plays well will end up on the trading block if the Mets are out of contention a few months from now.

Given Ryu’s age and recent health history, he is likely looking at a one-year deal as well. He missed most of 2022 recovering from Tommy John surgery, though he did return last year and toss 52 innings for the Blue Jays with a 3.46 ERA. His 17% strikeout rate was below average but he limited walks to a 6.3% rate and kept 45.6% of balls in play on the ground. He may have been a bit lucky to keep as many runs from scoring as he did, given his .272 batting average on balls in play and 77.6% strand rate. ERA estimators such as his 4.91 FIP and 4.69 SIERA weren’t as enthused with his performance. On the other hand, perhaps he could shake off some more rust and have better results this year now that he’s further removed from his surgery. As recently as 2020, he finished in the top three in American League Cy Young voting.

Manaea, 32 in February, is coming off a couple of shaky years in terms of results. He has been a solid mid-rotation option in his career but his ERA jumped to 4.96 in 2022 and was at 4.44 last year. Digging into his most recent campaign provides more reason for optimism, something recently explored here at MLBTR. Notably, Manaea added a sweeper to his arsenal in late May and had significantly better results, 6.61 ERA before and 3.60 ERA after adding that pitch. At the start of the offseason, MLBTR predicted Manaea could land a two-year, $22MM deal this winter.

As for Imanaga, he stands out from the other names on this list as he seems slated for a far more lengthy commitment, though the Mets have been connected to him in the past. MLBTR predicted he could land a five-year, $85MM contract, but with recent reporting suggesting he has enough interest to push past $100MM. Sherman throws a bit of cold water on that today, however, suggesting there are concerns around a 2020 shoulder surgery and also how his tendency to work up in the zone might make him homer prone in the majors.

If the market drops, perhaps the Mets will sense an opportunity to bolster their long-term rotation outlook, in contrast to their other moves this winter. Quintana, Severino and Houser are all set to be free agents after 2024, so they have very little rotation certainty going forward. The 30-year-old Imanaga has a 3.18 ERA in his NPB career and just posted a 2.80 mark in 2023. In addition to the Mets, he’s had interest from clubs like the Red Sox, Giants, Yankees and Cubs, though Patrick Mooney of The Athletic reported today that the Cubs aren’t seen as a likely landing spot for the lefty. Imanaga’s posting period end on January 11, giving him less than a week to get a deal done.

Latest On Shota Imanaga’s Market

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Shota Imanaga is among the more intriguing starting pitchers still on the free agent market. The Japanese left-hander became available to MLB teams on November 27, when he was formally posted by the Yokohama BayStars.

That opened a 45-day window for Imanaga to sign with a major league club. He’ll need to ink a contract with an MLB team by January 11 if he’s to make the jump to North America this offseason. With eight days to go, it’s little surprise Jeff Passan of ESPN reports that Imanaga’s market will gain steam this week. Alex Speier of the Boston Globe reported around Christmas the southpaw was planning a trip to meet with interested teams shortly after the New Year.

The Red Sox, Giants, Mets and Cubs are among the teams that have been connected to Imanaga since his posting window opened. In mid-December, Jon Heyman of the New York Post also listed the Yankees as a team that was keeping an eye on Imanaga as a fallback option if they missed on Yoshinobu Yamamoto.

However, Heyman suggested in an appearance on Bleacher Report this afternoon (X link) that the Yankees weren’t enamored with the southpaw. Imanaga allowed 17 home runs in 148 innings a season ago, the second-most in Japan’s top league. New York’s front office seemingly has concerns about how well he’d profile in a park as hitter-friendly as Yankee Stadium.

Despite the home run concerns, the 30-year-old is going to do quite well financially. Imanaga led NPB with 174 strikeouts while issuing only 24 walks (a meager 4% rate). Some evaluators project him as a mid-rotation starter. Passan reiterated this morning that many executives feel he’ll land a contract in excess of $100MM. That’d be well above the five-year, $75MM pact secured by Kodai Senga last winter even though Senga was arguably coming off a better platform showing.

Senga had allowed just seven homers with a 27.5% strikeout rate and a sparkling 1.94 ERA in 2022. Imanaga had a slightly superior strikeout percentage (29.2%) and allowed 2.80 earned runs per nine last year. Senga was also entering his age-30 season. Unlike Imanaga, he was a true free agent, so the Mets weren’t required to send any compensation to his NPB club. Any team that signs Imanaga would owe the BayStars a fee valued at 20% of the contract’s first $25MM, 17.5% of the next $25MM, and 15% of further spending.

That said, it’s possible teams harbored reservations about Senga’s health that they won’t have regarding Imanaga. The Mets reportedly expressed some trepidation with his elbow during their physical. That obviously didn’t scuttle the deal, but it could’ve factored into his earning potential.

Imanaga may also benefit from the success Senga had in his first MLB campaign. The righty finished runner-up in NL Rookie of the Year balloting after posting a 2.98 ERA across 166 1/3 innings. That Senga looked like more than a mid-rotation starter in his first MLB season could give some clubs added confidence in projecting Imanaga’s ability to handle big league hitters with a fairly similar projection.

Latest On Red Sox’s Free Agent Pursuits

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The Red Sox have yet to make any waves on the free agent market. Boston’s offseason spending thus far consists of a $1MM signing of depth arm Cooper Criswell. Boston has been linked to a number of high-profile players in recent weeks, many of whom remain available. The Sox were at least on the periphery of the Yoshinobu Yamamoto bidding in its final few days. With free agency’s top pitcher headed to Los Angeles, first-year chief baseball officer Craig Breslow and his staff are looking elsewhere.

The Red Sox have been linked to Jordan Montgomery and, to a lesser extent, defending NL Cy Young winner Blake Snell at points this offseason. While there’s no indication they’re out of the market for either player, Alex Speier of the Boston Globe wrote over the weekend they appeared more engaged with the next tier of free agents.

Speier indicates the Sox remain involved on Shota Imanaga and Lucas Giolito on the rotation front while showing interest in outfielder Teoscar Hernández — all of whom have previously been reported as targets. Of that group, Imanaga figures to have the highest price tag. The #2 pitcher moving from Japan this offseason, he’s coming off a 2.80 ERA with an NPB-leading 174 strikeouts over 148 innings.

Imanaga doesn’t have the ceiling that Yamamoto possesses, but he’s generally viewed as a likely mid-rotation starter. As with Yamamoto, Imanaga is available via the posting system. The Yokohama BayStars formally posted him on November 27. That opened a 45-day window for the southpaw to sign with a major league club. He’ll land with an MLB team by January 11 at the latest. Speier reports that Imanaga will travel to the U.S. shortly after the New Year to meet with interested teams. The Giants, Cubs and Yankees are among the others linked to Imanaga within the past month.

While Imanaga figures to secure four or five guaranteed years, a reunion with James Paxton would be a much shorter commitment. WEEI’s Rob Bradford recently reported the Sox were interested in bringing the southpaw back. Chris Cotillo of MassLive wrote this evening that the team has maintained contact with Paxton throughout the offseason, although there’s no indication a deal is imminent.

Paxton, 35, pitched to a 4.50 ERA over 19 starts last season. He struck out almost a quarter of opponents while inducing swinging strikes on 12.7% of his offerings. Paxton is still capable of missing a decent number of bats behind a fastball that sits in the mid-90s, but he hasn’t been able to shoulder many innings. He made only six appearances between 2020-22, missing most of that stretch to Tommy John surgery and a pair of lat strains. Paxton had a pair of injured list stints last season, landing on the shelf early with a hamstring strain before knee inflammation ended his year in early September.

Giants Reportedly Interested In Shota Imanaga

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The Giants have shown interest in left-hander Shota Imanaga, according to a report from Jon Morosi of MLB Network. Morosi adds that Imanaga’s market is likely to come into further focus when the sweepstakes for right-hander Yoshinobu Yamamoto come to an end. A recent report connected Imanaga to the Yankees as a potential backup plan should they miss out on Yamamoto. The Giants are a suitor for the young right-hander themselves, though its unclear if their interest in Imanaga hinges on Yamamoto signing elsewhere or if they would consider pursuing both hurlers. The Tigers, Dodgers, Cubs, and Red Sox are among the other clubs that the lefty has been connected to in the weeks leading up to and following his posting late last month.

Imanaga would certainly be a solid fit for San Francisco headed into 2024. With veteran righty Alex Cobb set to miss the start of the season as he rehabs from hip surgery, right-handers Logan Webb and Anthony DeSclafani appear to be the club’s only surefire starting pitchers for 2024. Veteran Ross Stripling along with youngsters like Kyle Harrison and Keaton Winn could all plausibly start for the club next season, but the Giants seemingly preferred to use each in more flexible, multi-inning bulk roles last year rather than as regular members of the rotation. Adding another stable arm to pair with Webb at the front of the club’s rotation could be a sensible decision if that preference holds into next season, particularly if the Giants wind up dealing one of their young arms to address other areas on their roster.

The Giants have been among the more aggressive teams in the league over the past few offseasons but have come away with little to show for it after whiffing on top free agents such as Aaron Judge, Carlos Correa, and Shohei Ohtani. Should that same fate befall the club in their pursuit of Yamamoto, pivoting to Imanaga would allow them to bulk up their starting rotation with a player who, though five years Yamamoto’s senior, has posted a sub-3.00 ERA in four of his past five NPB seasons, including each of the past three. Since the start of the 2021 season, Imanaga has posted a sterling 2.51 ERA across 467 innings of work. That strong track record has led to reports indicating that Imanaga’s price tag in free agency could surpass $100MM, though the Giants have made clear they’re more than comfortable working in the deeper end of free agency both through their pursuits of Ohtani and Yamamoto but also by signing KBO star Jung Hoo Lee to a $113MM guarantee this past week.

On the heels of a 79-83 season in 2023, San Francisco seems interest in upgrades all across their roster. Depending on exactly how much money the Giants have to spend this offseason, a pursuit of Imanaga could leave them with more room in the budget to make further additions to the club this offseason. Third baseman Matt Chapman, right-hander Yariel Rodriguez and outfielder Cody Bellinger are among the other notable free agents the club has expressed interest in this offseason, though it’s unclear if the club remains in on Cody Bellinger following their agreement with Lee.

Yankees Interested In Shota Imanaga

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As the Yankees consider the pitching market, left-hander Shota Imanaga is one of the many hurlers on the team’s radar, according to Jon Heyman of the New York Post.  Imanaga would essentially be a backup plan if the Yankees can’t sign Yoshinobu Yamamoto, who has long been cited as one of the Bronx Bombers’ top offseason targets.

It isn’t a stretch to say other teams could be viewing Imanaga in the same manner, given the overlap in suitors between his market and Yamamoto’s market.  The Yankees, Red Sox, Dodgers, Mets, and Tigers have all been linked to both Japanese pitchers at various points this offseason, and the Cubs are the only known Imanaga suitor who doesn’t appear to be in on Yamamoto.  This could theoretically give Chicago a slight edge in being able to more fully focus on its courtship of Imanaga, yet the southpaw and his reps probably aren’t likely to sign a deal until Yamamoto makes his decision, so Imanaga can perhaps benefit by finding a larger deal in a thinning pitching market.

The clock is ticking for Yamamoto and Imanaga given the 45-day posting windows for both players, though there is plenty of time left for the two pitchers to land contracts.  Yamamoto has until January 4 to sign with a Major League team, while Imanaga has until January 9.  As per the terms of the MLB/NPB posting system, a Japanese team who posts a player is entitled to a posting fee worth 20% of first $25MM of the player’s eventual big league contract, 17.5% of the next $25MM, of anything beyond the $50MM threshold.  For instance, the Yokohama BayStars (Imanaga’s NPB team) would receive a $13.875MM release fee if the lefty signed the five-year, $85MM deal predicted in MLBTR’s top 50 free agents list.

Recent reports have suggested that the 30-year-old Imanaga might land a contract closer to $100MM, speaking to both the rising costs of pitching and the interest in his services.  That would still make Imanaga a much less costly proposition than Yamamoto, whose price tag was expected to top $200MM heading into the offseason and now might be approaching the $300MM mark.

Imanaga is almost five years older than Yamamoto and isn’t considered to have a similar ace-level ceiling, but Imanaga projects as a solid middle-of-the-rotation type of arm as he makes the move from Nippon Professional Baseball to the majors.  Imanaga has a 3.18 ERA over 1002 2/3 career innings for the BayStars, with excellent control, very good strikeout numbers, and quite a bit of durability (with the exception of a shoulder surgery in 2020).

The Yankees dealt away a good chunk of their rotation depth by moving Michael King, Jhony Brito, Randy Vasquez, and top prospect Drew Thorpe to the Padres in the Juan Soto trade.  Gerrit Cole is the ace of a staff that includes Carlos Rodon, Nestor Cortes, and Clarke Schmidt, and the fifth spot in the rotation is now a question mark with King in San Diego.  Signing Imanaga would bolster the rotation for 2024 and beyond, and while a $100MM deal isn’t exactly a bargain signing, New York might prefer that outlay to other alternatives.  Signing another top pitcher might cost even more in both money or in draft picks (for a qualifying offer-rejecting hurler), or the Yankees would have to surrender even more young talent to land a top trade chip like Corbin Burnes or Dylan Cease.

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