While free agent starting pitchers have done quite well for themselves this winter, free agent relievers aren’t exactly flying off the shelves. To that point, only two relievers from MLBTR’s Top 50 Free Agents list have signed so far, and both of them joined their new teams to be starting pitchers: Clay Holmes and Michael Soroka. It was particularly interesting to see Holmes sign as a starter. For one thing, he hasn’t started a game since his rookie season in 2018. What’s more, he has been one of the top relievers in the game over the past four seasons, pitching to a 3.05 ERA and 2.83 SIERA with 74 saves in 264 appearances. He was an All-Star in 2022 and ’24.
Jeff Hoffman is one of the aforementioned unsigned relievers from MLBTR’s Top 50 list. Like Holmes, he’s coming off an All-Star season out of the ’pen, but he is reportedly drawing interest as a starting pitcher. Indeed, ESPN’s Jeff Passan reported in mid-December that Hoffman had received “more interest from teams” as a starter. That helps explain why Hoffman seems to have set his sights on a deal in the same range as the three-year, $38MM contract Holmes landed from the Mets, according to Matt Gelb of The Athletic.
It’s not hard to understand why Hoffman would compare himself to Holmes. They’re both right-handed relievers with closing experience, and they’re less than three months apart in age. Then again, while Holmes has a longer track record of success, most metrics suggest Hoffman has been the better pitcher since he broke out as a high-leverage reliever partway through the 2023 campaign. In particular, he’s coming off a stronger 2024 season in almost every single statistical category, including strikeout rate, walk rate, innings pitched, ERA, SIERA, and all versions of WAR.
That’s precisely why MLBTR ranked Hoffman ahead of Holmes on our Top 50 list, predicting a four-year, $44MM contract for the former and a three-year, $30MM deal for the latter. Considering that Holmes was able to beat his predicted contract by $8MM, one might have thought Hoffman would be seeking even more – perhaps something closer to the four-year, $56MM deal we initially predicted for fellow free agent reliever Tanner Scott.
However, Hoffman and his agents have now had a couple of months to gauge interest on the open market, and one wonders if he’s discovered that teams aren’t valuing him significantly more than they valued Holmes. After all, it doesn’t seem as if the Mets vastly outbid every other suitor for Holmes’s services. Mere hours before he signed, Jayson Stark of The Athletic reported that Holmes was still choosing between numerous offers and that he had been in negotiations with several contending teams. Maybe one of those suitors could pivot to Hoffman instead, especially if he’s seeking a similar deal.
The Phillies were one of those contending clubs. They are also the only team that has been formally linked to Hoffman this offseason. Yet, after adding reliever Jordan Romano, starter Jesús Luzardo, and swingman Joe Ross, they’re almost certainly out on Hoffman.
Evidently, Hoffman has other suitors, but it’s not yet clear who they are. Other teams that were reportedly in on Holmes include the Orioles, Red Sox, and Blue Jays. The Orioles were interested in Holmes as a starter, but they’ve since signed Tomoyuki Sugano, likely filling that hole. The Blue Jays, meanwhile, were interested in Holmes as a reliever, and they have since signed Yimi García. It’s harder to say if that would preclude them from pursuing Hoffman. As for the Red Sox, it’s unclear if they wanted Holmes as a starter or a reliever, but it’s worth noting that they have added three starters since they were linked to Holmes (Garrett Crochet, Walker Buehler, and Patrick Sandoval), and they already have two potential closers at the back of their bullpen (Liam Hendriks and Aroldis Chapman).
