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Giants Designate Kai-Wei Teng For Assignment

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The Giants announced that they have selected right-handers Carson Seymour and Carson Ragsdale to their 40-man roster, protecting them from being available in the Rule 5 draft. They had one roster vacancy but opened another by designating righty Kai-Wei Teng for assignment.

Teng, 25, signed with the Twins as an international amateur out of Taiwan prior to the 2018 season. He was traded for the Giants the following year in the deal that shipped right-hander Sam Dyson to Minnesota at that year’s trade deadline. Teng slowly climbed the minor league ladder with the Giants, though he did so with generally middling results at each level along the way. Back in March, the righty made his big league debut just after Opening Day. He ultimately made just four multi-inning relief appearances in the majors, however, and struggled badly with a 9.82 ERA in 11 innings of work. Command was the right-hander’s primary issue, as he actually recorded more walks (eight) than strikeouts (seven) during his brief stay on the big league roster.

Teng was optioned back to the minors in mid-April, but unfortunately did not see his numbers improve when he headed to Triple-A. He split his time at the level between the club’s rotation and bullpen, with 13 starts and ten relief appearances. Things did not go well for Teng, however, as he was torched to the tune of a 8.60 ERA across 75 1/3 innings of work. He struck out just 17% of opponents at the level this year while walking 12.3%, leaving him with a strikeout-to-walk ratio that would be untenable for any pitcher. Given Teng’s deep struggles, it’s not necessarily a surprise that the Giants decided to part ways with the righty. San Francisco will now have one week to attempt to trade the righty or place him on waivers, where he would be available for any of the league’s 29 other clubs to claim.

Teng’s departure makes room on the 40-man roster for the additions of Seymour and Ragsdale. Ragsdale, 26, is a starting pitcher who missed the majority of the 2022 and ’23 seasons due to injury but returned strong in 2024. The right-hander began the season with his first taste of upper-minors action at the Double-A level and excelled, pitching to a 3.49 ERA in 67 innings of work across 14 starts. He struck out an excellent 33.1% of opponents faced, though he was held back somewhat by an elevated 11.5% walk rate. Even so, that was more than enough to earn Ragsdale a mid-season call-up to Triple-A. Unfortunately, Triple-A was not quite as forgiving for the right-hander as Double-A. He struggled in 13 appearances (12 starts) at the level with a 5.03 ERA in 53 2/3 innings of work. His walk rate largely held steady at 11%, but his strikeout rate dipped to just 24.1% at the highest level of the minors.

Seymour, meanwhile, won’t turn 26 until next month. The right-hander was acquired by the Giants in the deal that sent Darin Ruf to the Mets and actually struggled through something of a down season at Triple-A this year, as he surrendered a 4.82 ERA in 134 1/3 innings of work. He struck out 22.1% of opponents while walking 10.1%. Prior to his struggles this year, however, Seymour had pitched to strong results in back-to-back seasons. In a 2022 season split between the Mets and Giants organizations, Seymour posted a 3.08 ERA in 111 innings between the Single-A and High-A levels while striking out 29.3% of opponents. The righty posted slightly diminished but still solid numbers in his first full season with the Giants last year at Double-A, as he pitched to a 3.99 ERA in 112 2/3 innings of work with a 24.4% strikeout rate.

Giants Hire Bobby Evans, Jeff Berry In Advisory Roles

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The Giants are hiring Bobby Evans and Jeff Berry as advisors to first-year president of baseball operations Buster Posey, reports Jeff Passan of ESPN (X link). They each have ties to the franchise icon. Evans was San Francisco’s general manager for a portion of Posey’s playing career, while Berry was the catcher’s longtime agent at CAA Sports.

As one would imagine, Evans has significantly more front office experience of today’s hires. He started working for San Francisco in the 1990s. Evans worked his way up the ladder amidst the Giants’ run of three World Series in five years early in the 2010s. San Francisco promoted him to general manager in April 2015, though he still served as something of the #2 decision maker behind executive vice president Brian Sabean. The Giants reassigned Evans near the end of the ’18 season, a precursor to their hiring of Farhan Zaidi the following offseason.

Evans hasn’t found himself in a ton of headlines over the past six years, though he reportedly interviewed for the Astros’ GM job on two occasions (in 2020 and ’23) and sat down with the Angels before they hired Perry Minasian in November ’20. He was floated as a candidate for the GM job in San Francisco this offseason, a position which would’ve put him only behind Posey in the front office hierarchy. The Giants went with Zack Minasian for that job, but Posey evidently values Evans’ input enough to bring him aboard in an advisory role.

Berry worked at CAA for more than two decades, becoming one of baseball’s most high-profile agents in the process. The 54-year-old stepped away from that job at the beginning of the 2024 season. (Berry spoke with Evan Drellich of the Athletic about that decision in June.) He’ll provide a bit of a different perspective as he moves to the other side of the aisle. It’s rare but not unheard of for agents to take team positions — most notably with Berry’s former CAA colleague Brodie Van Wagenen working as Mets’ general manager between 2018-20.

Giants Hire Randy Winn As VP Of Player Development

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The Giants announced on Thursday that they’ve hired Randy Winn as their vice president of player development. The longtime outfielder played for the Giants between 2005-09 and has been involved with the organization in a few different roles since retiring. Farm director Kyle Haines will remain in his current position, according to Andrew Baggarly of the Athletic.

Winn had a lengthy and successful run as a player. He appeared in 13 seasons between 1998-2010 and suited up for five teams. He made an All-Star team as a member of the Devil Rays in 2002 and spent a few years with the Mariners before landing in San Francisco. A switch-hitting outfielder, he finished his playing days with a .284 average and 110 home runs.

Since retiring, Winn has worked as an analyst with NBC Sports Bay Area. He spent a few seasons coaching outfielders throughout the Giants organization and spent a year in the pro scouting department. He was briefly teammates with president of baseball operations Buster Posey in ’09 and has surely maintained a relationship with the franchise icon over the past decade.

Alex Pavlovic of NBC Sports Bay Area reports that Posey initially suggested that Winn interview for the general manager position that represented the #2 role in the front office. It’s unclear if that wound up happening before the Giants tabbed Zack Minasian, himself a mainstay in San Francisco’s scouting ranks. Conversations were productive enough that Winn comes on board in a fairly significant role. Giants fans will want to check out Pavlovic’s piece, as he speaks with Winn about the job and his vision for player development more broadly.

Giants Could Listen To Offers On LaMonte Wade Jr.

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There are likely to be some trades amidst an interesting offseason in San Francisco. As Buster Posey looks to put his stamp on the roster, a few veterans could find themselves in trade rumors. Jeff Passan of ESPN wrote this morning that the Giants are making LaMonte Wade Jr. and Mike Yastrzemski available. The Athletic’s Andrew Baggarly similarly wrote last week that Wade, Yastrzemski, and former closer Camilo Doval could be in play on the trade market.

All three players stand as logical trade candidates. The hitters are headed into their final seasons of arbitration and are one year from free agency. MLBTR contributor Matt Swartz projects Wade for a $4.7MM salary, while Yastrzemski is projected for a lofty $9.5MM sum. Doval is projected at $4.6MM for his first of three arbitration seasons. Dealing him would be selling low on a talented arm, but the righty pitched himself off the MLB roster in the second half. If he doesn’t rebound next season, he’d be a non-tender candidate going into 2026. Susan Slusser of the San Francisco Chronicle recently reported that the Giants had received interest from multiple teams on Doval.

Of the two hitters, Wade would have greater appeal. The 30-year-old first baseman is more affordable than Yastrzemski and gets on base much more consistently. Wade is coming off a .260/.380/.381 showing through 401 plate appearances. He has a .258/.376/.401 slash over the past two seasons. The lefty-hitting Wade has posted plus OBP marks against left-handed and righty pitching alike.

Few players draw more walks or get on base as consistently. While there’s value in that plate discipline, Wade doesn’t have the power associated with most first basemen. He hasn’t topped 18 home runs in a season and hit just eight longballs this year. Alex Pavlovic of NBC Sports Bay Area writes that some within the organization view first base as an area for upgrade. They’d presumably look for a more traditional power bat.

It’s a solid free agent class for first basemen. Pete Alonso and Christian Walker headline the group. They’d certainly add power, but both players would require draft pick and international signing bonus forfeitures as qualifying offer recipients. Alonso and Walker are on track for multi-year deals — potentially five or six years in Alonso’s case — which doesn’t fit well for San Francisco. The Giants’ top prospect, Bryce Eldridge, reached Triple-A before his 20th birthday and could get to the majors by the end of next season. Signing one of Alonso or Walker would lock up designated hitter once Eldridge arrives.

If San Francisco wanted a short-term stopgap, Paul Goldschmidt or Carlos Santana are one-year options. Goldschmidt is coming off a middling offensive season. Santana had a nice year for the Twins but has some similarities to Wade as a first baseman without massive power. Josh Naylor, Ryan Mountcastle, Nathaniel Lowe and Yandy Díaz are potential trade candidates who are down to their final year or two of club control.

The Pirates, Astros, Yankees, Reds and Nationals are some of the teams that could gauge Wade’s availability. San Francisco should be able to net a mid-level prospect if they move him. They might have a harder time matching up on a Yastrzemski deal. The left-handed outfielder could just as easily be a non-tender candidate before next Friday’s deadline.

Yastrzemski hit 18 homers with a .231/.302/.437 slash through 474 plate appearances this year. It was the fourth straight season in which he was around league average offensively. He grades as a solid right field defender but is stretched in center. Yastrzemski is a reasonably productive player, but there might not be much of a market for an arbitration salary pushing $10MM in his age-34 season. The Giants wouldn’t get much in return if they did find a team willing to tender him a contract.

Trading or non-tendering Wade and Yastrzemski would knock around $14MM off next year’s payroll projection. A Doval trade could push that to roughly $19MM. Baggarly reported last week that the Giants planned to reduce payroll after exceeding the luxury tax threshold in 2024. They can do that without trading any of their arbitration-eligible players. RosterResource calculates their tax number (including arbitration estimates) around $183MM, nearly $60MM shy of this year’s spending level. A few trades would create more room for free agent strikes for a shortstop and potentially top-end starting pitching.

At shortstop, San Francisco has already been connected to Ha-Seong Kim and is one of the best on-paper fits for Willy Adames. They haven’t been closely connected to any pitchers, though Passan suggests they’re likely to be in the mix for Max Fried. San Francisco has been loosely floated as a potential suitor for Juan Soto, but Jayson Stark of the Athletic reports (on X) that they’re not among the teams that currently have a meeting scheduled with the market’s top free agent.

Blue Jays, Red Sox To Meet With Juan Soto, Scott Boras

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7:54pm: There is currently no meeting scheduled between Soto and the Giants, tweets Jayson Stark of the Athletic.

11:10 am: The list of known teams who have upcoming meetings with Juan Soto and agent Scott Boras continues to grow. ESPN’s Jeff Passan reports that both the Blue Jays and Red Sox are set to meet with Soto and his representative this week. They’ll join Mets and Yankees in that regard. Passan adds that the Jays are “serious about adding a star” to the lineup alongside Vladimir Guerrero Jr., and Soto unsurprisingly tops their wishlist.

Similarly, the New York Post’s Jon Heyman paints the Jays as a legitimate contender in the Soto bidding. Toronto was famously willing to put forth the same offer that the Dodgers did to lure Shohei Ohtani to Los Angeles last winter, and Heyman adds that the Jays tried to trade for Soto last winter as well before the Yankees ultimately acquired him from the Padres. Both reports peg Toronto as a motivated buyer on the heels of a disastrous 2024 season that saw them finish in the AL East cellar.

From a payroll vantage point, the Jays should have a clear path to making a compelling offer. Jose Berrios and Yariel Rodriguez are the only players the Blue Jays have signed beyond the 2026 season — the latter never earning more than $8MM annually. RosterResource projects Toronto’s 2025 payroll at around $197MM at the moment — a good ways shy of last year’s franchise-record $225MM Opening Day mark. That projected number could drop even further with several non-tender/trade candidates still on the roster (e.g. Dillon Tate, Erik Swanson, Jordan Romano, Zach Pop). By 2026, the Blue Jays have under $75MM in guarantees on the books.

Toronto, of course, hopes to extend the aforementioned Guerrero and would need a massive offer to do so, but a long-term payroll ledger with Soto and Guerrero seems plenty doable given the lack of other commitments. Shortstop Bo Bichette could be another extension candidate, but he’s a tough case for a long-term deal after an injury-shortened season that included career-worst production at the plate. At the very least, it’s easy to see how the Blue Jays could make an aggressive push and competitive bid for Soto, as they did with Ohtani.

That’s generally true of the Red Sox as well, though their short-term books aren’t quite so clean. Rafael Devers, Brayan Bello and Ceddanne Rafaela are the only players signed truly long-term in Boston, but the Red Sox will still be paying Masataka Yoshida and Trevor Story notable salaries through the 2027 season at least. That said, the Sox have a much smaller arbitration class and don’t have the specter of a superstar’s potential departure hanging over them, as the Jays do with Guerrero. They’re projected for a payroll around $136MM in 2025 (again, via RosterResource) — modest relative to their franchise-record spending levels.

That said, the Red Sox have curbed spending in recent seasons. They did open the 2022 season with a $206MM payroll but have otherwise spent in the $170-180MM range since 2020. Back in 2018, when they last won a World Series, the Sox opened the season at $233MM. They followed with a $236MM in 2019 (both figures via Cot’s). Signing Soto would require a willingness to return to those 2018-19 levels — if not exceed them — but there are some signals the organization is willing to do just that.

Red Sox chief baseball officer Craig Breslow has been vocal about his intention of “deliver[ing] the team that’s capable of winning the AL East and making a deep playoff run,” adding that the Sox need to be willing to be big players in the free agent and trade markets in order to do so. Skeptics will call back to chairman Tom Werner’s regrettable and oft-mocked “full throttle” comments from an offseason ago, but Breslow has taken a more direct and repeated stance on his intent to be active in both markets.

The Sox have multiple areas they’ll need to target, however, as Breslow has also voiced his intent to “raise the ceiling” in the rotation. (They’ve also been linked to Max Fried, further lending credence to the idea that they’re willing to spend this winter.) Soto won’t accomplish that specific goal, nor will he help to balance out a heavily left-handed lineup (another of Breslow’s stated objectives), but that’s of little consequence. Free agents as young and impactful as Soto only come around every few decades; adding him to the lineup is an endeavor unique unto itself, and the rest of a team’s given goals can take a backseat to such a rare pursuit.

Marlins To Hire Pedro Guerrero As Hitting Coach

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The Marlins have hired Pedro Guerrero as their new hitting coach, according to The Athletic’s Katie Woo and Andrew Baggarly.  Daniel Alvarez-Montes of El Extrabase reported earlier tonight that Guerrero and the Marlins were nearing a deal, and Baggarly reported last week that Guerrero was interviewing with Miami about an unspecified position on their coaching staff.

Guerrero comes to the Marlins after three seasons as an assistant hitting coach with the Giants.  Notably, the first two seasons of Guerrero’s tenure in San Francisco continued his association with Gabe Kapler, who was then the Giants’ manager and is now Miami’s assistant general manager.  Before coming to the Giants, Guerrero was also an assistant hitting coach with the Phillies from 2018-21, overlapping Kapler’s time as Philadelphia’s manager during the 2018 and 2019 seasons.

Miami has basically nowhere to go but up when it comes to hitting, as the 62-100 team naturally ranked near the bottom of the league in most major batting categories.  Former hitting coach John Mabry and assistant hitting coaches Bill Mueller and Jason Hart can’t be entirely blamed for the lack of production, of course, as the Marlins’ rebuild left the roster increasingly gutted of big-league caliber talent as the season developed.  That said, the Fish also didn’t even hit much when they reached the playoffs in 2023, as Miami ranked 26th in the league in runs scored but benefited from an exceptional 33-14 record in one-run games.

Now that Clayton McCullough has been installed as the Marlins’ new manager, Guerrero is the first member of what will be an entirely new set of coaches.  Miami underwent an internal overhaul after the season that saw the club fire not only the whole incumbent coaching staff, but also everyone from the training staffers to clubhouse attendants.  This leaves the Marlins with plenty of positions to fill in the coming weeks and months, and with McCullough now in place as manager, hirings figure to begin quickly.

As for the Giants, they’ve now lost two members of their three-person staff of hitting instructors, between Guerrero’s departure and Justin Viele leaving to become the Rangers’ new hitting coach.  Woo and Baggarly write that the Giants will install just one new hitting coach instead of two, and that sole new hire will team with the returning Pat Burrell as the hitting-coach tandem.

Giants Expected To Scale Back Payroll

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The Giants expect to reduce player payroll relative to this past season, writes Andrew Baggarly of The Athletic. The extent of the pullback isn’t clear, though the club’s 2024 spending was roughly $20MM higher than it had been in ’23.

That’s mostly a reflection of the late-offseason free agent pickups of Jorge Soler, Matt Chapman and Blake Snell. Cot’s Baseball Contracts calculated San Francisco’s Opening Day payroll this year in the $208MM range. They started the ’23 season with roughly $188MM in spending, Cot’s measured.

The Giants’ competitive balance tax number jumped north of the $237MM base threshold. They’ll pay the luxury tax for the first time in six years. The payment itself should be modest. Cot’s estimates the Giants went around $14MM over the threshold. They’re taxed at a 20% rate on the overage, so they should pay around $2.8MM. (MLB hasn’t released the official CBT calculations to this point.)

While a sub-$3MM tax bill is a drop in the bucket for a team that spent over $200MM on salaries, it comes with ancillary penalties. The Giants would be taxed at a higher rate if they surpass the CBT next season — starting at 30% for the first $20MM in overages with higher penalties beyond that. Luxury tax payors are also subject to bigger penalties for signing a free agent who had declined a qualifying offer from another team. The Giants would surrender $1MM from their international amateur bonus pool and their second- and fifth-highest picks in next year’s draft to add a qualified free agent.

That’s relevant in a winter when the Giants are expected to play for some marquee players. They’re long shots compared to the New York teams in the Juan Soto bidding, but they’re among the best on-paper fits for Willy Adames and Pete Alonso. President of baseball operations Buster Posey is on record about wanting to add a shortstop. Adames is easily the top option at the position. First base isn’t as clear-cut a weakness — especially with top prospect Bryce Eldridge moving quickly through the minors — but Alonso would bring a lot more power than LaMonte Wade Jr. A run at a top-end starting pitcher like Corbin Burnes or Max Fried also isn’t out of the question.

At least one top-of-the-market pursuit should be doable even if ownership wants a notable payroll cut. Some of the spending reduction has already happened. The Giants shed Soler’s salaries at the deadline. Snell and Michael Conforto hit free agency (though they still owe Snell a $17MM signing bonus that’ll be paid in January 2026).

San Francisco has $109.5MM in guaranteed contracts for eight players: Chapman, Robbie Ray, Jung Hoo Lee, Taylor Rogers, Jordan Hicks, Logan Webb, Tom Murphy and Wilmer Flores. MLBTR contributor Matt Swartz projects their four-man arbitration class of Mike Yastrzemski, LaMonte Wade, Tyler Rogers and Camilo Doval to account for roughly $25MM. Rounding out the roster with players on league minimum salaries would push them into the $146MM range. That’d leave them a little more than $60MM shy of last year’s Opening Day payroll and roughly $40MM below their ’23 spending level.

Posey will surely want to reshape the roster after taking over baseball operations once the team fired Farhan Zaidi. All four of the Giants’ arb-eligible players are realistic trade candidates, though they’d be selling low on Doval. A straight non-tender of Yastrzemski isn’t out of the question. San Francisco could welcome a chance to get out from under a portion of Taylor Rogers’ $12MM salary. (They unsuccessfully tried to dump Rogers’ entire contract via waivers in August.) Posey and his staff should have a fair amount of leeway even if they’re not going to run another $200MM+ payroll.

That doesn’t negate the heightened QO penalties. Reluctance about surrendering multiple draft choices for Adames is a potential reason that the Giants are among the early suitors for Ha-Seong Kim, the next-best shortstop available. Snell, Jack Flaherty, Yusei Kikuchi, Jurickson Profar, Nathan Eovaldi, Tyler O’Neill and Gleyber Torres are among the top free agents who did not receive qualifying offers. Soto, Burnes, Fried, Adames, Alonso and Christian Walker are among this year’s 13 QO recipients.

Giants, Sergio Alcantara Agree To Minor League Contract

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The Giants are in agreement with infielder Sergio Alcántara on a minor league deal, reports Francys Romero (X link). The Quality Control Sports client gets an invitation to big league camp.

Alcántara has appeared with four teams at the major league level. He hasn’t played in the big leagues since 2022. The switch-hitting infielder split the ’24 campaign between the Triple-A affiliates of the Pirates and Diamondbacks. His .271/.388/.416 slash is solid on the surface, though that was mostly concentrated in a hitter’s paradise in Reno. Alcántara has played the role of light-hitting utilityman in his MLB career. He’s a .209/.281/.343 hitter over 502 big league plate appearances.

While Alcántara doesn’t provide much at the plate, he has bounced around on the strength of his glove. He has more than 6000 innings of shortstop experience in the minors. Alcátara has upwards of 1000 professional frames at both second and third base. The Giants are likely to add a starting shortstop this winter to push Tyler Fitzgerald to second base. Most of San Francisco’s utility players are stretched at shortstop, so Alcántara is a sensible depth target who’ll likely open the season in Triple-A.

Giants, Blue Jays Showing Interest In Ha-Seong Kim

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Ha-Seong Kim is finding interest in free agency’s opening days. Mark Feinsand of MLB.com writes that the Giants have identified him as an early target. Ben Nicholson-Smith of Sportsnet reports that the Blue Jays are also showing interest as they evaluate infield possibilities.

While this is the first substantive tie between Kim and the Giants, that fit had been speculated long before he hit free agency. Giants skipper Bob Melvin managed the infielder for two seasons with the Padres. President of baseball operations Buster Posey has called shortstop a target area. Improving defensively seems like a particular priority, as landing a shortstop could allow San Francisco to slide Tyler Fitzgerald to second base.

Willy Adames is the top free agent shortstop. He could land a six- or seven-year contract. Kim seemed to be on track for four or five years as recently as a few months ago. A season-ending shoulder injury and postseason labrum surgery make it likelier he’ll take a short-term deal. The Padres opted not to issue a qualifying offer, which Kim would almost certainly have declined if he were healthy. San Diego president of baseball ops A.J. Preller has floated a nebulous timeline for the 29-year-old’s return, suggesting he could be out between May and July. Kim’s agent Scott Boras has indicated he could be available earlier in the season, potentially before the end of April.

Kim’s value is driven largely by his glove. He has proven to be a plus defender throughout the infield, at least when he’s at full strength. While some teams could be concerned about his arm in the immediate aftermath of a significant shoulder procedure, Kim had shown a sufficient arm before the surgery to play on the left side of the infield. He’s a roughly league average hitter, compensating for middling power with good contact skills and strong walk rates. Kim hit .233/.330/.370 with 11 homers and 22 stolen bases during his platform year.

He’s also a plus defender at second base, where the Jays would ostensibly target him. Nicholson-Smith reported last night that Toronto had also checked in on Gleyber Torres. Toronto has Bo Bichette returning at shortstop. Between second and third base, they have a handful of internal options who are light on MLB experience (e.g. Will Wagner, Davis Schneider, Addison Barger, Orelvis Martinez, Ernie Clement). Toronto also used Vladimir Guerrero Jr. sporadically at the hot corner.

MLBTR predicted Kim for a one-year pillow contract valued around $12MM. His camp could try to secure a two-year guarantee that allows him to opt out after next season, though it’s not clear if teams are willing to take that risk coming off the injury. The Padres have expressed interest in bringing him back, while the Braves and Mariners are speculative possibilities to pursue middle infield help.

Rays Among Teams To Have Reached Out To Soto

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The Rays are among the teams that have reached out to Juan Soto’s camp since the opening of free agency last week, writes Jon Heyman of the New York Post. Heyman lists a much less surprising additional six teams that have shown interest: the Yankees, Mets, Dodgers, Giants, Blue Jays and Red Sox.

The mere mention of the Rays as a possible Soto suitor is going to be met with plenty of skepticism. It’d be a shock if they made a legitimate push for the market’s top free agent. The Rays have tried to land an elite free agent at least once before, as they reportedly made an offer in the $150MM range to Freddie Freeman before he signed with the Dodgers. That wasn’t too far off the price Freeman ultimately landed, but any offers to Soto would be in a different stratosphere. He should handily top $500MM and could secure a contract between $600MM and $700MM.

While it’s fair to assume the Rays themselves aren’t optimistic about their chances, this is illustrative that they have some money to at least dabble in the middle of free agency. The Rays opened this past season with a payroll around $98MM, per Cot’s Baseball Contracts. They’ve got a little less than $40MM in guaranteed commitments for next year (assuming Wander Franco remains on the restricted list and is not paid). Their arbitration class is projected around $25MM, though they could knock that to the $15MM range with a few non-tenders. Trades of Brandon Lowe or Yandy Díaz would subtract another $10.5MM or $10MM, respectively.

None of that is to say they should be perceived as a realistic threat to the big-market teams on Soto. They’ll probably be more active in free agency than many fans might expect given their general spending habits, though. Another mid-tier strike akin to the $40MM Zach Eflin deal from two offseasons ago could be on the table. Any free agent pursuits are complicated by their uncertain stadium situation after Tropicana Field was severely damaged by Hurricane Milton.

The other teams known to have some interest in Soto are all expected. The Yankees and Mets are widely perceived as the favorites. The Dodgers are at least tied to virtually every free agent of note. The news that Mookie Betts is likely moving back to the middle infield is going to fuel speculation about L.A. making a run at Soto. Giants baseball operations president Buster Posey has spoken about wanting to land a star. The Blue Jays were in the running for Shohei Ohtani last winter. The Red Sox have indicated they could be more active in free agency than they’ve been over the past few winters, although a splash in the rotation market seems much likelier than them landing Soto.

The New York Post reported last week that 11 teams had been in contact with Soto’s reps at the Boras Corporation on the first day of the offseason. That leaves at least four unknown clubs, though Heyman casts some doubt on the Nationals and Cubs as possibilities. Heyman suggests that Washington is unlikely to spend at the level necessary to bring Soto back. He writes that Chicago’s offseason plans are more geared towards pitching at the moment.

Soto’s free agency should carry for multiple weeks. USA Today’s Bob Nightengale wrote this afternoon that the four-time All-Star plans to have an in-person meeting with the ownership group of each team making a serious pursuit.

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