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Tigers, Guardians Interested In Erick Fedde, Steven Matz

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As reported by John Denton, Mark Feinsand, and Bryan Hoch of MLB.com, the Tigers and Guardians have both expressed interest in trading for Cardinals starting pitchers Erick Fedde and Steven Matz. Both pitchers seemed to be likely trade candidates entering the offseason, but this is the first report to link either pitcher to specific suitors.

As the Cardinals look to shed payroll and kickstart a retooling effort, just about all of their veteran players look like possible trade chips. Nolan Arenado has generated much of the buzz so far, but his contract isn’t the only one St. Louis could look to offload. After Arenado, the next highest-paid players on the roster are Sonny Gray, Miles Mikolas, and Willson Contreras. However, all three have no-trade clauses in their contracts, and all three have expressed a desire to stay in St. Louis. Thus, Matz and Fedde could be the next players who president of baseball operations John Mozeliak looks to flip. Those trades wouldn’t come with quite as much salary relief – Matz will make $12.5MM and Fedde will make $7.5MM in 2025 – but they might be easier to pull off. Not only is less money involved, but neither Matz nor Fedde has the right to reject a trade.

Any trade involving Matz would likely be a salary dump. In other words, the Cardinals should not expect to get any notable players back in return. As he enters his age-34 campaign, Matz is coming off one of the worst seasons of his career. In 12 games (seven starts), he pitched to a 5.08 ERA and 4.63 SIERA. His strikeout-to-walk ratio was the lowest it’s ever been. To make matters worse, he missed four months of the year nursing a lower back strain.

While Matz has been a productive starting pitcher in the not-so-distant past, he has struggled with injuries and inconsistency throughout his career. He has spent time on the IL in every season since his rookie year and has never thrown enough innings to qualify for the ERA title. His 3.86 ERA and 4.19 SIERA over 105 innings in 2023 are a reminder that he can be a valuable contributor to a big league rotation. Yet, as Matz enters his mid-thirties, concerns about his durability and potential decline will only increase. All that to say, his $12.5MM salary is probably more than he could command on the open market. If the Cardinals want another team to take on that salary, they won’t be able to ask for much in return.

As for Fedde, the Cardinals wouldn’t get as much salary relief in a trade, but they could bring back some talent to help in 2025 and beyond. Although Fedde has had injury and inconsistency problems of his own, he is two years younger than Matz and coming off of two consecutive strong seasons. He also comes $5MM cheaper.

Fedde was little more than an innings eater for the Nationals from 2017-22. However, he reinvented himself in the KBO in 2023, winning the MVP Award and signing a two-year, $15MM deal with the White Sox last winter. While he wasn’t an MVP-caliber player in 2024, he produced what was easily the best season of his MLB career, pitching 177 1/3 innings with a 3.30 ERA and 4.19 SIERA. He didn’t excel in any one area, but he limited walks and hard contact at better-than-average rates and tossed at least five innings in 27 of his 31 starts. If he repeats that performance in 2025, he’d be an upgrade for just about every contending team’s starting rotation.

As far as contending teams go, Cleveland and Detroit have two of the weaker rotations. With Shane Bieber still recovering from Tommy John surgery, the Guardians only have three locks for the rotation: Tanner Bibee, Gavin Williams, and Ben Lively. The Tigers are in a similar position with several question marks after Tarik Skubal, Reese Olson, and Alex Cobb. With that said, it’s still surprising to see these two teams linked to Fedde and Matz. Evan Petzold of the Detroit Free Press reported during the Winter Meetings that the Tigers were not “planning to pursue additional starting pitchers” after signing Cobb. He quotes general manager Jeff Greenberg, who said “I think we’re probably done for now.”

As for the Guardians, it’s a question of money as usual. It’s especially rare to see this team spend significant money on pitching because they have done such a good job of developing talented arms internally. Thus, Matz, in particular, seems to be an unexpected target; he would become the highest-paid pitcher on the roster. However, a deal with Cleveland could make more sense if St. Louis is willing to eat some salary to receive a more talented return package.

Yankees Sign Jonathan Loáisiga

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Today: The Yankees formally announced Loáisiga’s contract this afternoon. The financial terms of the deal have still yet to be revealed.

December 11: The Yankees have agreed to a one-year deal with right-handed reliever Jonathan Loáisiga, reports Jorge Castillo of ESPN. The deal includes a team option for the 2026 season. Financial details have not yet been revealed. While Loáisiga’s health is a concern after he underwent internal brace surgery this past April, Castillo notes that he is on track to get back on the mound in late April 2025. Levi Luna (X link) was the first to report that the two sides were nearing a deal. 

Loáisiga, 30, began his professional career with the Giants, signing as an international free agent in 2012. Unfortunately, he struggled with injuries, and the Giants released him partway through the 2015 season. The Yankees scooped him up in 2016, but it wasn’t long before his injury troubles came back. He suffered a torn UCL, and Tommy John surgery kept him off the field until June 2017. Yet, he was sensational upon his return, pitching to a 1.38 ERA and 2.17 FIP in 32.2 innings between Rookie Ball and Low-A. It was enough for MLB Pipeline, FanGraphs, and Baseball America to rank him among the top 25 prospects in New York’s farm system entering 2018. After another strong showing that year, he shot up to the no. 2 spot on all three lists.

Success eluded Loáisiga at the big league level over his first three seasons from 2018-20. It didn’t help that various injuries plagued him during that time, most notably a shoulder strain in 2019. However, things changed when the righty moved into a full-time relief role in 2021. He continued to deal with shoulder problems (he spent most of September on the IL), but when he was on the field, he was one of the best relievers in the sport. Loáisiga pitched to a 2.17 ERA and 3.01 SIERA over 70 2/3 innings. His sinker, which was suddenly touching triple-digits, became his new primary pitch, and he paired it with a new-look curveball that was practically unhittable. Meanwhile, his changeup was his strongest weapon against opposite-handed hitters, and it helped him post almost equally impressive numbers against righties and lefties alike.

Sadly, Loáisiga has yet to pitch a full season since his 2021 breakout. His shoulder gave him trouble once again in 2022, while his elbow problems returned the following season. He had surgery to address bone spurs in his elbow in April 2023 and internal brace surgery to repair a torn UCL in April 2024. He has only pitched 69 2/3 innings over the past three years, putting up a 3.62 ERA and 3.91 SIERA. Yet, he still has plenty of promise in his powerful right arm. He averaged 98 mph on his sinker over three appearances this past April, and the handful of curveballs he threw still looked filthy. That explains why several teams expressed interest in signing him this winter, including the Padres, Rangers, Mets, and Blue Jays.

It’s also a promising sign that the team that knows him (and his injury history) best is the team that ultimately re-signed him. Unlike some of Loáisiga’s other suitors (namely the Padres and Rangers), the Yankees don’t need to hunt for bargains or bet on buy-low free agent targets. They just signed Max Fried to a massive eight-year deal, and they’re not done looking for upgrades as they try to replace Juan Soto in the aggregate. They wouldn’t have signed Loáisiga if they didn’t think he could be a valuable contributor to their bullpen.

The Yankees lost several relievers to free agency this offseason, including Clay Holmes, Tommy Kahnle, and Tim Hill. Thus, Loáisiga will slot into a ’pen that lacks high-leverage arms after Luke Weaver and Ian Hamilton. General manager Brian Cashman will presumably remain active in the market for relievers; the Yankees were linked to All-Star closer Carlos Estévez earlier this offseason, while reunions with Kahnle and Hill could also be in the cards.

Royals, Junior Fernández Agree To Minor League Deal

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The Royals have signed right-handed pitcher Junior Fernández to a minor league deal, the team announced. He last pitched in MLB during the 2022 season.

Fernández signed with the Cardinals as an international free agent in 2014 and made his MLB debut in St. Louis five years later. Unfortunately, he was never able to establish himself in the Cardinals bullpen. Over parts of four seasons with the club, he pitched to a 5.51 ERA and 4.78 SIERA in 50 2/3 innings of mostly low-leverage work.

The Cardinals designated Fernández for assignment in 2022, and the Pirates scooped him up off of waivers. He made three scoreless appearances for Pittsburgh at the end of the year, but it wasn’t enough to save him from another DFA. After a brief stint in the Yankees organization that offseason, Fernández was DFA’d once again. The Blue Jays were the next team to claim him, and, as he surely came to expect, the next team to DFA him just a few weeks later. This time, however, Fernández passed through waivers. The Blue Jays sent him outright to the minors, where he pitched to a 5.69 ERA and 5.92 FIP in 42 games with Triple-A Buffalo. Toronto released him before the year was up, and he spent the final weeks of the season pitching at Triple-A in the Nationals organization. His 2.79 ERA in 9 2/3 innings was more impressive, but his matching 13.6% strikeout and walk rates were ugly.

Following the 2023 campaign, Fernández elected free agency and signed with the Chiba Lotte Marines of NPB. Unfortunately, his career overseas was short-lived. An injury limited him to just two appearances in Japan before the Marines released him.

Now entering his age-28 season, Fernández will look to get back to the majors with the Royals. Whether or not he succeeds will likely depend on his arm health and velocity. In 2022, Fernández was averaging close to 99 mph and regularly hitting triple digits with both his sinker and his four-seam fastball. Despite his control issues, velocity like that is enough to make him an intriguing arm. However, his velocity was down a tick while he was pitching at Triple-A in 2023. Now, his mostly lost 2024 season makes it hard to predict what to expect from his arm in 2025. That said, the Royals presumably scouted him in the Dominican League, where he’s been pitching this winter. Despite his 6.43 ERA and 16.2% walk rate in 14 innings of work, they must have liked what they saw enough to bring him on board as bullpen depth for the 2025 season.

Marlins Make Two Additions To Coaching Staff

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The Marlins are in the process of filling several vacancies on manager Clayton McCullough’s coaching staff. Earlier this week, they reportedly hired Tyler Smarslok to be their new first base coach. They also promoted Brandon Mann from the position of pitching strategist to bullpen coach. Both moves were reported by Isaac Azout of Fish On First. The team has not yet confirmed the news.

Smarslok, 32, spent several years working with college teams before the Twins organization hired him in 2020. He coached for the Triple-A St. Paul Saints over the past four seasons. In addition, he managed the Salt River Rafters of the Arizona Fall League earlier this year. His job with the Marlins will be his first major league gig. Smarslok replaces previous first base coach Jon Jay.

Mann, 40, enjoyed a long professional pitching career. A southpaw, he played parts of 12 seasons in the minors with the Rays, Dodgers, Pirates, A’s, and Rangers organizations and made a handful of big league appearances with Texas in 2018 – 16 years after he was taken in the 27th round of the draft. He also spent time in NPB, the CPBL, the Atlantic League, and the American Association. Following his retirement from playing, he briefly served as minor league pitching coordinator for the Lotte Giants of the KBO before returning stateside to work at Driveline Baseball. After two years at Driveline, he took a job as the pitching strategist for the Marlins for the 2024 season. He will now take over for Wellington Cepeda as Miami’s bullpen coach.

Back in October, the Marlins announced they would not bring back any of their coaches for the 2025 season. Since hiring McCullough to lead the squad, they have brought on Carson Vitale as bench coach, Pedro Guerrero as hitting coach, Daniel Moskos as pitching coach, and Derek Shomon as assistant hitting coach. Smarslok and Mann are the newest additions to the staff.

Phillies Notes: Kepler, Further Offseason Moves, Sasaki

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The Phillies might have already made their biggest moves of the offseason. On Friday, the team announced the signing of outfielder Max Kepler to a one-year, $10MM deal. Kepler’s is the second major league contract Philadelphia has given out this winter; they signed right-handed reliever Jordan Romano to a one-year, $8.5MM guarantee earlier this month. At a recent press conference, president of baseball operations Dave Dombrowski suggested those two signings are likely his primary offseason additions.

The executive spoke favorably of Kepler, praising his selectivity and bat-to-ball skills. According to Baseball Savant, the Phillies ranked among the bottom half of teams in contact and chase rate in 2024. Evidently, Dombrowski is hoping Kepler will help to fix that problem. His chase rate was below average this past year but typically ranks among the top 25% of the league. Meanwhile, his contact rate has been above average in every season of his career.

Kepler will slot into the lineup as the primary left fielder. Although he has never played the position at the MLB level, Dombrowski has no concerns about his ability to quickly pick it up. He has graded out as an excellent defensive right fielder throughout his career. Of more concern than Kepler’s ability to play left field is his ability to hit left-handed pitching. The lefty batter had reverse platoon splits in 2024 but has often struggled against southpaws in his career. Dombrowski makes it clear that Kepler won’t just be the strong side of a platoon in Philadelphia. However, the POBO identifies the righty-batting Weston Wilson as someone who could occasionally cover for Kepler with a tough lefty on the mound. Johan Rojas is another righty-batting outfielder on the roster, but he’ll most likely be busy covering for center fielder Brandon Marsh, another lefty-batting outfielder with poor platoon splits.

While Dombrowski spoke highly of Kepler, he acknowledged that his new signing is coming off a down year. It’s debatable how true that is; Kepler’s .682 OPS and 94 wRC+ in 2024 were a big step down from his .816 OPS and 123 wRC+ in 2023, but right in line with his .694 OPS and 95 wRC+ from 2021-22. The version of Kepler on display in 2024 might be closer to his true talents than the version we saw in 2023. Regardless, Dombrowski offered some insight into why the outfielder took a step back in 2024 and why the Phillies are optimistic he’ll improve in 2025. Kepler was playing through a core muscle injury for much of the 2024 season. However, he had surgery to repair the issue this offseason and has already recovered. Phillies hitting coach Kevin Long watched him swing earlier, and Dombrowski suggests Long was pleased with what he saw.

While Kepler and Romano are both looking to bounce back from injuries in 2025, Dombrowski would not characterize either signing as bargain bin shopping. He emphasized that Kepler and Romano are simply two players the team wanted – indeed, he says they have liked Kepler for quite a while – and it was the players themselves who sought one-year deals. It seems that both are hoping to boost their value and re-enter the free agent market next offseason.

On a similar note, Dombrowski also denied that he is working under strict payroll constraints. That said, he did make it quite clear that he almost certainly isn’t looking to sign any additional impact free agents. If that proves to be true, this would be the first offseason in Dombrowski’s tenure with the Phillies that he didn’t sign a free agent to a nine-figure contract. However, Philadelphia’s payroll is still projected to increase by more than $30MM to a franchise-record $280MM in 2025 (per RosterResource). That’s largely because the three-year, $126MM extension Zack Wheeler signed this past March will begin next year. In other words, one could argue that Dombrowski did sign a nine-figure deal this offseason – he just did it several months early.

As for smaller additions to improve the team along the margins, Dombrowski identifies two needs: one more position player for the bench and a swingman for the pitching staff. Currently, the Phillies have three bench players who seem to be locks for the Opening Day roster: utility infielder Edmundo Sosa, fourth outfielder Rojas, and backup catcher Garrett Stubbs. They could use one more option who can play both the infield and the outfield. While Dombrowski doesn’t eliminate the possibility of seeking an external upgrade, he suggests the Phillies are more likely to stick with their internal candidates. He names Wilson, Kody Clemens, and Buddy Kennedy as three players who could fill that role from within the organization.

Wilson has the most MLB success of the trio, albeit in a small sample size, and Dombrowski mentioned his name multiple times during the presser. The only thing working against his chances of making the Opening Day roster right now is the fact that he still has one option year remaining. Clemens and Kennedy are out of options, which means the Phillies would risk losing them through waivers if they don’t put them on the active roster. On the other hand, Clemens is at a disadvantage as another lefty bat, while Kennedy has very limited professional experience playing the outfield.

Turning to the pitching staff, Dombrowski is more likely to look outside the organization for an upgrade. Ideally, he’d like an arm that could potentially take the fifth spot in the rotation but could also pitch out of the bullpen if Taijuan Walker wins the fifth starter job out of camp. That seems to describe someone like Spencer Turnbull, who the Phillies signed for one year and $2MM last offseason. Turnbull made seven starts and 10 relief appearances for Philadelphia before suffering a season-ending injury. Jakob Junis could be an intriguing option to fill that role in 2025. The 32-year-old righty has made 27 starts and 60 relief appearances over the past three years, pitching to a 3.80 ERA and 3.62 SIERA.

The Phillies currently have six locks for the Opening Day bullpen. Dombrowski describes Romano, Matt Strahm, José Alvarado, and Orion Kerkering as back-end arms, and he identifies Tanner Banks and José Ruiz as middle-inning relievers the team likes. That leaves two bullpen spots open. One spot would presumably go to the aforementioned swingman. The other will most likely remain up for grabs entering spring training. Dombrowski mentioned Max Lazar as one possibility to win the job. The righty struggled in a handful of big league appearances this past year but excelled in the minors.

One final point of interest from Dombrowski’s press conference was his brief discussion of NPB phenom Roki Sasaki. The executive made it clear the Phillies would love to engage in further discussions with Sasaki and his team, but at this time, Philadelphia has not been invited to do so. That’s not entirely surprising – the Phillies never seemed like a frontrunner in the Sasaki sweepstakes – but it’s still a disappointing update.

Cardinals Reportedly Declined Offer Of Marcus Stroman For Nolan Arenado

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Earlier this offseason, the Cardinals declined an offer from the Yankees that could’ve sent Marcus Stroman to St. Louis for Nolan Arenado, according to a report from Mark Feinsand, John Denton and Bryan Hoch of MLB.com. It’s unknown whether Arenado would have approved that trade. MLB.com reports that the Cardinals never brought it to the star third baseman because they were uninterested in acquiring Stroman.

That’s not to say that talks between the clubs on Arenado are finished. The Yankees still have needs at both corner infield positions. Feinsand, Denton and Hoch report that they’re showing increased interest in Paul Goldschmidt at first base. They write that signing Goldschmidt might make Arenado more likely to waive his no-trade clause to join his former teammate as a corner infield tandem in the Bronx.

Various reports have tied the Yankees to Goldschmidt throughout this week. It seems they’ll turn to one of the short-term free agent options to upgrade first base. Ken Rosenthal of the Athletic reported on Thursday that the Yankees were increasingly likely to pursue a more affordable first baseman than to spend at the top of the market for Pete Alonso or Christian Walker. Walker, whom the Yankees had reportedly preferred to Alonso, has subsequently come off the board on a $60MM deal to Houston.

Interestingly, Goldschmidt’s asking price could itself prove a sticking point. Most predictions, MLBTR’s included, assumed he’d sign a one-year deal as he enters his age-37 season. Feinsand, Denton and Hoch report that Goldschmidt is seeking multiple years. That doesn’t guarantee he’ll find a two-year deal, of course, which would be a lofty ask coming off a middling season.

Goldschmidt hit .245/.302/.414 with 22 homers during his final year in St. Louis. He posted career-worst strikeout and walk rates with overall offense that measured exactly league average. Goldschmidt had a better second half after a dismal start to the season, but the overall numbers are worrisome given his age. MLBTR felt he’d secure $15MM on a one-year deal.

Money is also a complicating factor on Arenado. Even if the Yankees signed Goldschmidt and Arenado were willing to play there, they’d still need to find an agreeable return with St. Louis. The Cardinals owe the eight-time All-Star $64MM over the next three seasons, while the Rockies are on the hook for another $10MM between 2025-26. (Colorado’s obligations would carry over in the event of a trade.) $12MM of the Cardinals’ $64MM is deferred. MLB.com writes that the net present value of what St. Louis owes is around $60MM.

The Cardinals are trying to shed at least the vast majority of that deal. Katie Woo and Chandler Rome of The Athletic reported that the Astros would’ve absorbed around $45MM had Arenado not vetoed the proposed trade to Houston earlier this week. ESPN’s Jeff Passan reported differently, writing that Houston would have taken $59MM. In either case, the Cardinals would have shed most of the money.

Derrick Goold of the St. Louis Post-Dispatch wrote this afternoon that the extent of the Yankees’ interest in Arenado depends on how much of the deal the Cardinals would cover. While it’s not known how much the Yankees want St. Louis to eat, their proposal of Stroman would’ve been a financial counterbalance. The righty will make $18MM next season and would trigger a matching player option for 2026 if he throws 140 innings. An Arenado/Stroman swap would’ve gotten the Cardinals off the hook for the former’s salaries in 2026-27, but it would not have represented a significant cut next season.

Arenado has a $32MM salary next year, $5MM of which is Colorado’s responsibility. Another $6MM is deferred, so the immediate savings for St. Louis would only have been $3MM. The Cardinals could have tried to flip Stroman themselves. The righty is coming off a 4.31 ERA over 154 2/3 innings. His salary is above market but not egregiously so, but it doesn’t seem the Cardinals had any interest in that sequence of moves.

A player’s competitive balance tax number resets if they’re traded. Assuming the NPV on Arenado’s contract is around three years and $60MM, he’d carry an approximate $20MM luxury tax hit for an acquiring team if the Cardinals did not eat any money. RosterResource calculates New York’s luxury tax number around $287MM. Signing Goldschmidt or taking most of Arenado’s contract would push them beyond the $301MM final tax tier. Doing both would vault them well beyond $301MM, which comes with a 110% tax on every dollar spent from that point.

Astros To Sign Christian Walker

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A new-look Astros club will have a new first baseman in 2025, as the team has reportedly agreed to terms on a three-year, $60MM contract with free agent Christian Walker. The CAA client’s deal is still pending a physical.

Walker’s deal with Houston seems to shut the door on the possibility of a reunion with Alex Bregman. Houston recently acquired Isaac Paredes from the Cubs as part of the trade sending Kyle Tucker to Chicago, and while Paredes could’ve played first base with Bregman in the fold, he’ll be slotted in at third base with Walker now on board. Similarly, this effectively eliminates any chances of Nolan Arenado landing in Houston — an outcome that was all but at the finish line before Arenado invoked his no-trade clause to nix the deal.

Walker, 34 in March, has been a target of the Astros for some time now, dating back to the trade deadline when was reportedly at the top of their wishlist. A deal didn’t get done then, obviously, but Houston still has a need at first base after their three-year deal with Jose Abreu almost immediately imploded on them. Houston first basemen — led by Abreu and Jon Singleton — turned in an awful .226/.291/.360 batting line on the season in 2024. Walker, meanwhile, hit .251/.335/.468 — almost an exact match for the .253/.333/.464 line he carries through 3171 plate appearances dating back to the 2019 season.

On top of his quality results at the plate, Walker has emerged as arguably the premier defensive first baseman in MLB. He’s won three straight Gold Glove Awards in the National League and leads all first basemen in Defensive Runs Saved (33) and Outs Above Average (39) over the past three seasons. Matt Olson (27) and Carlos Santana (20) are second in those respective metrics. Walker’s defensive excellence at his position has essentially been unmatched.

Both Walker and the recently acquired Paredes are strong fits for the Astros, given the short left field porch at the newly renamed Daikin Park. That’s more true of Paredes, who’s one of the game’s most dead-pull and prominent fly-ball hitters. Walker has more of an all-fields approach, but when isolating his splits on pulled batted balls, he ranks 15th among qualified hitters in fly-ball rate (32.2%). Put more simply, Walker may spray the ball around a bit more than Paredes, but when he does pull the ball, he lifts it far more often than the vast majority of big league hitters. For a right-handed hitter with plenty of pop in his bat, that should play quite nicely with a 314-foot left field porch.

It’s been a bull market for free agents this offseason, and Walker had accordingly been hoping to land a four-year deal. He’ll “settle” for a year less than that on a deal that aligns with early expectations. His three-year, $60MM deal is an exact match for our predicted contract back on MLBTR’s annual ranking of the offseason’s top 50 free agents.

The $20MM annual salary on the contract puts the Astros north of the luxury tax threshold for what would be a second straight season. RosterResource now projects them at $244MM of luxury obligations — $3MM north of the $241MM tier-one threshold for the coming season. Their bottom-line payroll will depend on how that $60MM is divided over the three years of the deal, but if it’s evenly distributed, Houston would be just over $225MM in terms of actual player salary. (The luxury tax is calculated separately and based on the average annual value of all the team’s contracts.)

It’s still possible the Astros could duck back under the tax threshold. They’re reportedly telling teams they don’t intend to trade top starter Framber Valdez, but they’ve been exploring the trade market for reliever Ryan Pressly, who’s set to earn $14MM in 2025. More speculatively, they could also gauge interest in backup catcher Victor Caratini and his $6MM salary, then turn that role over to Cesar Salazar, who hit well in Triple-A and the majors this past season.

Dropping back under the tax line, however, doesn’t appear to be any kind of mandate. Owner Jim Crane said earlier in the winter that he “had the wherewithal” to cross that line and match his 2024 levels of spending if the right scenario presented itself. At the time, few envisioned that would entail trading Tucker and letting Bregman walk, but the Astros have been averse to the types of long-term megadeals both players — Tucker in particular — are expected to command. Houston hasn’t given out a contract longer than Yordan Alvarez’s six-year, $115MM contract or Jose Altuve’s six-year, $157.5MM extension under Crane’s ownership, the latter also being the largest guarantee in franchise history.

As a result, the Astros will give out their second three-year deal to a mid-30s first baseman in the past three years. Houston signed the aforementioned Abreu to a $58.5MM deal in the 2022-23 offseason and will still be paying Abreu $19.5MM this coming season after releasing him at the contract’s halfway point. That deal was negotiated by Crane himself and senior advisor Jeff Bagwell, as it came in the lull between the team’s dismissal of former GM James Click and the hiring of current GM Dana Brown. Astros fans may feel some trepidation about another multi-year deal for a first baseman well past his 30th birthday, though it bears mentioning that Abreu was 36 in year one of his contract; Walker will be 36 in the final season of this deal.

Walker declined a $21.05MM qualifying offer from the D-backs at the end of the season. As such, he’ll cost the Astros their second- and fifth-highest picks in the 2025 draft, as well as $1MM of space from their league-allotted bonus pool for international amateur free agency. That’s the steepest penalty possible for signing a qualified free agent, but the Astros find themselves in that tier as a result of exceeding the luxury tax threshold in 2024. The fact that they exceeded the tax threshold also means they’d only receive a compensatory pick after the fourth round in the now-likely event that Bregman signs elsewhere.

As for the D-backs, they’ll receive a comp pick after the first round, because Walker’s agreement is for more than $50MM guaranteed. It’ll be a nice parting gift, but Walker’s production will be tough to replicate with in-house options. Former top-10 draft pick Pavin Smith hit well in 158 plate appearances last season, but that was his first big league success in parts of five seasons and came in a small sample. The Snakes can hope for a similar late-bloomer trajectory to the one taken by Walker, but odds are against that. They could look to affordable alternatives in free agency (e.g. Carlos Santana, Justin Turner, a Josh Bell reunion) or sift through a deep trade market of first base options that includes Yandy Diaz, Josh Naylor, Nathaniel Lowe and perhaps Triston Casas (though the asking price on Casas would be extreme and surely cost the D-backs some coveted young pitching).

Robert Murray of FanSided first reported that the two sides were in advanced talks and closing in on a deal. Jim Bowden of The Athletic and MLB Network Radio reported that an agreement was in place, pending physical. USA Today’s Bob Nightengale reported the terms.

Yankees, Reds Swap Jose Trevino For Fernando Cruz

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The Yankees and Reds finalized a trade on Friday night that sends catcher Jose Trevino to Cincinnati for reliever Fernando Cruz and non-roster catcher Alex Jackson.

Trevino is on the move for the second time in his career. The Yankees landed him from the Rangers shortly after Opening Day 2022 in a deal that sent reliever Albert Abreu to Arlington. That was a win for the New York front office, as Trevino developed into a quality defensive catcher in the Bronx. Abreu, on the other hand, pitched seven times with the Rangers before they lost him on waivers.

The 2022 season has been Trevino’s best. He appeared in a career-high 115 games, hitting .248/.283/.388 through 353 plate appearances. Trevino led all catchers with 21 Defensive Runs Saved that season, earning an All-Star selection and a Gold Glove.

Trevino has opened each of the past two years as New York’s primary catcher. His playing time and offensive production have dropped, though he continues to grade very highly for his receiving skills. Trevino has only appeared in 129 games over the past two years. In 2023, that was largely the result of a ligament tear in his right wrist that necessitated season-ending surgery in July.

The 32-year-old stayed mostly heathy this past season. He missed a month between the All-Star Break and the middle of August because of a quad strain. Trevino was otherwise on the active roster but fell into a depth role. Rookie of the Year finalist Austin Wells is a superior offensive player who grades as an elite receiving catcher in his own right.

Trevino was limited to 62 starts behind the plate overall. He’d basically become a non-factor by the end of the year, as he appeared in just 14 games between his return from the injured list on August 15 and the end of the regular season. He only got two starts during the Yankees’ run to the World Series. He took 234 trips to the plate and hit .215/.288/.354 with eight home runs.

Part of the dip in playing time has been attributable to Trevino’s difficulty controlling the running game. According to Statcast, only Yasmani Grandal had a higher average pop time (throw time to second base on stolen base attempts) than Trevino’s 2.07 second mark. Opponents swiped 57 bases out of 70 attempts in his 544 1/3 innings. Trevino continues to grade exceptionally highly for his framing skills and blocking ability, so he remains a valuable defender, but the subpar arm strength has become an issue.

The Reds evidently placed a lot of value on those receiving skills. Trevino should back up Tyler Stephenson, who hit .258/.338/.444 with a career-high 19 homers this past season. Stephenson started 112 games and tallied a little more than 1000 innings. He didn’t play any first base in ’24 but has played there sporadically in prior seasons. Cincinnati could give Stephenson a few more modified rest days at first base or designated hitter if they’re comfortable with Trevino logging 70+ starts behind the dish.

Trevino has over five years of service time. MLTBR contributor Matt Swartz projects him for a $3.4MM salary during his last trip through the arbitration process. Taking that on pushes the team’s projected payroll to $104MM (courtesy of RosterResource). The Reds ended the ’23 campaign with a payroll around $100MM and have indicated they’re comfortable matching or exceeding that number.

Stephenson had been the only catcher on Cincinnati’s 40-man roster. They obviously needed to acquire a veteran backup, but it’s still surprising to see the Reds relinquish Cruz for one year of Trevino’s services. Cruz has been a fixture in Cincinnati’s bullpen for the last two years. He has scattershot command but elite bat-missing ability.

Cruz, a native of Puerto Rico, was drafted as an infielder back in 2007. He flamed out as a hitter and was out of affiliated ball entirely between 2016-21. Cruz converted to pitching in 2012 and continued to plug away, however, eventually catching the attention of Reds’ scouts in the independent ranks. He dominated Triple-A opponents in 2022 and earned his first major league call as a 32-year-old that September.

Typically, players who don’t reach the majors until they’re in their 30s are quickly dropped from the roster. Cruz pitched well in his late-season cameo, however, and the Reds kept him on their 40-man. He has topped 65 innings in each of the past two seasons, building from middle relief in 2023 to become one of David Bell’s more frequent leverage options in front of closer Alexis Díaz.

The bottom line results have not been great. Cruz has allowed nearly five earned runs per nine in both seasons. He owns a 4.52 ERA across 147 1/3 career innings. ERA estimators like FIP and SIERA find him significantly more interesting than the actual run prevention would suggest — a testament to his gaudy swing-and-miss numbers.

Cruz has fanned over 35% of opponents in each of the last two seasons. He carries a cumulative 36.5% strikeout rate over that stretch. Among pitchers with 100+ innings, only Josh Hader and Aroldis Chapman have posted a better mark. Spencer Strider, Kirby Yates, Garrett Crochet, Jeff Hoffman, Bryan Abreu, Paul Skenes and Tyler Glasnow round out the top 10. Cruz is similarly dominant on a per-pitch basis. His 16.7% swinging strike rate ranks fifth among that group — trailing Strider, Hader, Andrés Muñoz and Ryan Helsley.

Pitching isn’t solely about strikeouts, of course, but most pitchers who miss bats at those rates are impact arms. Cruz holds himself back to some extent by issuing too many free passes. He walked 12.2% of batters faced this year and has given out free passes to 11.4% of opponents in his career. That’s a concern, but it’s easy to see why the Yankees identified him as an upside play.

Cruz’s calling card is a low-80s splitter, which is one of the most effective pitches in the sport. Cruz used the offering a little more than 40% of the time this year. Opponents only made contact around 40% of the time they swung at it. Batters hit .116 against it. Cruz used it as the finishing pitch for 88 of his 109 strikeouts.

Exceptional as the splitter was, opponents teed off on his other two offerings — a 94 MPH four-seam fastball and a cutter that sits in the high 80s. Cruz has preferred to mix all three pitches rather than fully unleashing the splitter. Whether that’s because of his own comfort or the preference of Cincinnati’s coaching staff isn’t clear, though it wouldn’t be a surprise if the Yankees pushed him to lean more frequently on that pitch. New York allowed Tommy Kahnle to abandon his fastball and throw essentially all changeups for his entire playoff run, for instance.

Cruz has just over two years of big league service. He’s under club control for four seasons. The extended control window isn’t a huge factor for a pitcher who’ll turn 35 in March. It’s a boost in the short term, though, as the Yankees can plug him into the bullpen for around the league minimum salary in 2025.

Jackson, who turns 29 on Christmas, rounds out the return to backfill the catching depth. He signed a minor league contract with Cincinnati last month and will not occupy a 40-man roster spot. Jackson appeared in a career-high 58 games for the Rays last season, hitting .122 over 159 plate appearances. He’s a career .132/.224/.232 hitter over parts of five campaigns. Jackson should get a Spring Training invite, where he can compete with 29-year-old J.C. Escarra — who is on the 40-man roster but hasn’t appeared in the majors — for the backup job behind Wells.

Jon Heyman of the New York Post first reported that Trevino was being traded to Cincinnati. The Post’s Joel Sherman was first with the entire trade. Images courtesy of Imagn.

Nine Teams Exceeded Luxury Tax Threshold In 2024

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Major League Baseball finalized its luxury tax calculations for 2024. ESPN’s Jesse Rogers was first to report the list of payors, while Ronald Blum of the Associated Press reports the details. A record nine teams surpassed the $237MM competitive balance tax threshold. In a separate post, The Associated Press lists the finalized CBT numbers for all 30 teams.

The payments are as follows:

  • Dodgers: $103MM
  • Mets: $97.1MM
  • Yankees: $62.5MM
  • Phillies: $14.4MM
  • Braves: $14MM
  • Rangers: $10.8MM
  • Astros: $6.5MM
  • Giants: $2.4MM
  • Cubs: $570K

Teams pay escalating penalties for exceeding the threshold in consecutive seasons. The Dodgers, Mets, Yankees, and Phillies have all paid the tax in at least three straight years — subjecting them to the highest escalator fees. Texas and Atlanta are second-time payors. Houston, San Francisco, and the Cubs did not exceed the threshold in 2023 and are marked as first-time payors.

The Dodgers ($353MM), Mets ($348MM), and Yankees ($316MM) all had CBT numbers above $277MM, which marked the third tax bracket. All three teams will see their first-round pick in the 2025 draft dropped by 10 spots. Considering they each advanced at least as far as the LCS and the Dodgers won the World Series, those clubs won’t have any regrets about that penalty. Atlanta narrowly stayed below the $277MM threshold to avoid any impact on their draft.

Teams that paid the CBT are entitled to the lowest level of compensation for losing free agents who declined a qualifying offer. They receive a draft choice after the fourth round for each qualified free agent who walks. They’re charged the heaviest penalty — their second- and fifth-highest picks in 2025 and $1MM from their ’26 international bonus pool — for signing a qualified free agent from another team.

The Mets (Juan Soto), Yankees (Max Fried), Giants (Willy Adames), and Astros (Christian Walker) have already signed or agreed to terms with qualified free agents. The Mets (Luis Severino), Yankees (Soto), and Braves (Fried) have lost qualified free agents. Houston is likely to see Alex Bregman walk. The Mets (Pete Alonso, Sean Manaea) and Dodgers (Teoscar Hernández) still have unsigned qualified free agents of their own.

The top eight luxury payors were all clearly above the base threshold, while the three biggest spenders blew beyond every surcharge marker. The only source of CBT intrigue late in the season concerned the Cubs and Blue Jays, both of whom were hovering right around the tax line.

When it became clear that neither team would make the playoffs, they each attempted to dip below $237MM by shedding money via waivers. The Cubs were unsuccessful and landed around $239.9MM; Toronto dropped just below $234MM. The tax impact for the Cubs is negligible — a $570K bill is less than the cost of one player on a league minimum salary — but it places a higher penalty for signing qualified free agents and could incentivize them to stay under the threshold in 2025 to reset their status. Six of the nine payors made the postseason. Texas, San Francisco, and Chicago were the exceptions.

Last year, a then-record eight teams surpassed the CBT threshold. The Padres are the only team that was above the line in 2023 and got below it this year. San Diego finished with an approximate $228MM mark that ranked 11th in the majors — behind the nine payors and the Blue Jays. The Red Sox, Diamondbacks, Cardinals, and Angels were the other teams above the median in payroll. On the other side of the equation, the five bottom spenders were as follows: Athletics ($84MM), Rays ($107MM), Tigers ($110MM), Marlins ($122MM), and Pirates ($123MM).

The teams that exceeded the threshold have until January 21 to pay MLB. The first $3.5MM will be used to fund player benefits. Half the remaining money goes to players’ retirement accounts, while the other half is used for revenue sharing distribution from MLB to teams. Next year’s base threshold climbs to $241MM.

Dodgers, Julian Fernandez Agree To Minor League Deal

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The Dodgers are in agreement with righty reliever Julian Fernández on a minor league contract, reports Fabian Ardaya of the Athletic. The 29-year-old receives an invitation to MLB Spring Training.

Fernández is working to return to the majors for the first time since 2021. He made six appearances for the Rockies that year, allowing eight runs across 6 2/3 innings. That remains his only big league experience. Colorado outrighted him off the 40-man roster in June 2022. Fernéandez spent time in Triple-A with the Blue Jays the following year.

The Dominican Republic native was out of affiliated ball in 2024. Fernández spent the year in Mexico. He had an excellent season with Veracruz, turning in a 1.82 earned run average through 34 2/3 frames. He struck out 32.1% of opposing hitters. Fernández has given up eight runs across 11 2/3 innings in the Dominican Winter League, but Dodger evaluators evidently remain intrigued by his stuff.

During his brief big league stint, Fernández flashed huge velocity. He averaged 99 MPH with his four-seam fastball. That hasn’t actually translated to many whiffs in the affiliated ranks. He has an average 24% strikeout rate and has walked nearly 11% of batters faced over parts of four Triple-A campaigns. Fernández has a 6.05 ERA in 80 1/3 innings at that level.

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