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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.

Guardians, Parker Mushinski Agree To Minor League Deal

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The Guardians are in agreement with lefty reliever Parker Mushinski on a minor league contract, reports Chandler Rome of the Athletic (on X). He’ll be in camp as a non-roster invitee.

Mushinski had been with the Astros since they drafted him in the seventh round in 2017. The Texas Tech product pitched in the big leagues in each of the past three seasons. Mushinski hasn’t found much success, turning in a 5.45 ERA across 33 career innings. He has a below-average 17.4% strikeout rate over that stretch. Mushinski only fanned three hitters in 11 innings this year, leading the Astros to outright him off the 40-man roster in September. He became a minor league free agent at season’s end.

Things have generally gone better at the Triple-A level. Mushinski carries a 3.68 ERA over parts of four seasons in the Pacific Coast League. The majority of that success came between 2022-23. He had a tough season in the minors this year, allowing 5.44 earned runs per nine through 44 2/3 innings.

The Guardians have arguably the best bullpen in the majors. The group skews a bit right-handed, which plays in Mushinski’s favor as he tries to secure an Opening Day job. Tim Herrin is a lock for a season-opening spot, while Erik Sabrowski pitched well in a small sample as a rookie. Sam Hentges, arguably the most talented of Cleveland’s southpaws, is likely to miss all of next season after undergoing shoulder surgery in September. Joey Cantillo and Logan Allen could factor into the ’pen mix but project as rotation depth for the time being.

Mushinski has exhausted his minor league options. If the Guardians call him up at any point, they’d need to keep him on the MLB roster or send him back into DFA limbo.

Hal Steinbrenner To Meet With Boras/Soto

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Yankees owner Hal Steinbrenner is scheduled to fly to Southern California for an in-person meeting with Juan Soto and agent Scott Boras, report Mark W. Sanchez and Jon Heyman of the New York Post. The Post reports that the sit-down will occur in about a week a half — a few days after Boras and Soto welcome Mets owner Steve Cohen.

Boras suggested at this week’s GM Meetings that Soto plans to meet with the ownership group of every team that is pursuing him. That made it an inevitability that he’d sit down with each of Cohen and Steinbrenner. The Yankees and Mets are the two most obvious suitors for the market’s top free agent.

Plenty of teams would love to bring Soto into the fold. Heyman reported last week that at least 11 teams had reached out to Boras to express interest — the Giants, Dodgers, Blue Jays and Red Sox among them. Still, there’s speculation throughout the industry that Soto is likeliest to land with one of the New York teams. Boras has publicly stated that Soto is willing to sign anywhere. Saying otherwise wouldn’t do his market any favors, of course.

Phillies owner John Middleton opined today that the bidding may come down to the Yankees and Mets. “I’m afraid Juan Soto wants to be in New York, and I don’t mind being a stalking horse,” Middleton told Conor Smith of the Philadelphia Inquirer. “At some point, if [president of baseball operations Dave Dombrowski] and I get that feeling, we’ll probably say, ‘You know what, we’re not going to win this’ because we’ve both been the stalking horse before. And if I were an agent, I would do it too. It’s perfectly good strategy. I mean, it’s smart. But at the end of the day, I just think he likes New York.“

Front Office Subscriber Chat Transcript

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MLBTR’s Anthony Franco held a live chat today, exclusively for Trade Rumors Front Office subscribers!

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How Will The Market Value Pete Alonso?

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There are a few players who are tough to predict during the preparation of the Top 50 free agents every year. Often, they're players whose reputation outpaces their statistical output, especially in their walk year. Pete Alonso is the best example this offseason.

We landed on a five-year, $125MM prediction that ranked him seventh in the class. That seems to be below market consensus. Other estimates of Alonso's earning power have landed in the $140MM to $170MM range.* Those align more closely with the Polar Bear's reputation as a star, putting him in the Freddie Freeman or Matt Olson bucket. Freeman landed a deferred $162MM contract from the Dodgers, while Olson's extension with the Braves guaranteed him $168MM over eight seasons.

Alonso likely expects to be paid similarly. Joel Sherman of the New York Post has reported that Alonso declined a seven-year, $158MM offer from the Mets in June 2023. That would have bought out his final arbitration season and six free agent years. Alonso collected $20.5MM for his last arbitration year, so the extension proposal can be considered akin to $137.5MM over six seasons. As recently as last summer, Alonso and his previous representatives felt he could do better. (He has since hired the Boras Corporation.) He'll need to buck some market trends for that to be the case.

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A’s Not Discussing Rotation Move For Mason Miller

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Last offseason, the Athletics moved Mason Miller from the rotation to the closing job. General manager David Forst said at the time that the A’s were open to building the right-hander back up as a starter after one season in relief. That doesn’t seem to be on the table for now.

“We’re not talking about moving him back into a starting role,” Forst told John Shea of the San Francisco Chronicle this week. While that doesn’t preclude having the conversation at some point during the offseason, it appears the likelier outcome is that Miller will remain in the ninth inning.

Stretching Miller back out would be a huge risk-reward play for the A’s. A few teams have had success with converted relievers in recent seasons. Garrett Crochet immediately looked like a budding ace when the White Sox gave him a starting job. Seth Lugo and Michael King have gone from setup relievers to borderline top-of-the-rotation starters. Reynaldo López and José Soriano found success but battled injury issues in their returns to starting. Free agent righty Jeff Hoffman has drawn interest as a potential rotation conversion.

Miller is talented enough that a Crochet arc would be within the realistic range of outcomes. The A’s are concerned that a starter’s workload would weigh heavily on his arm, though. Miller has battled shoulder and elbow injuries and pitched fewer than 40 innings in the minor leagues. He started six MLB games as a rookie in 2023. Miller was pitching well but forearm tightness shelved him between mid-May and the start of September. The A’s used him out of the bullpen for the season’s final month and kept him in that capacity this year.

The 26-year-old’s first full season as a closer could hardly have gone better. Miller’s already elite velocity jumped in short stints. His fastball averaged nearly 101 MPH and routinely got into the 103-104 range. Between that kind of life and a wipeout slider, Miller was almost untouchable. He turned in a 2.49 ERA while striking out almost 42% of opposing hitters through 65 innings. Opponents swung and missed at nearly a fifth of his offerings. Among relievers with 50+ innings, only Josh Hader and Braves’ breakout lefty Dylan Lee got swinging strikes more frequently. Miller locked down 28 of 31 save attempts.

Most importantly, Miller’s arm held up. His only injury this year was a three-week absence due to a small fracture in his non-throwing hand. (He reportedly sustained that injury when he struck a training table in frustration after a poor outing.) It took all of a few weeks for Miller to establish himself as an elite late-game weapon.

Relievers aren’t immune to injury, but the A’s clearly feel better about his chances to stay healthy working in 1-2 inning stints. Assuming they don’t reverse course later in the offseason, he’ll project as one of the best closers in baseball. Other teams called on Miller at the deadline and surely will do so again this winter, but a trade would be a surprise. He’s still a year from arbitration and under club control for five seasons. The A’s are no longer aggressively tearing down the roster. They were relatively quiet at the deadline. Forst has already declared they’re keeping Brent Rooker, their best trade chip aside from Miller.

The A’s will need to add multiple starting pitchers. Their rotation is among the thinnest in the league. Players like JP Sears, Mitch Spence and Joey Estes headline the group. They all look like back-of-the-rotation arms at best. With almost nothing on the books for next season, Forst and his staff should be able to take on money via trade and/or a mid-level free agent strike to add innings.

Breslow: Red Sox Looking To “Raise The Ceiling” In Rotation

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The Red Sox look to be one of the top suitors for impact starting pitching. As teams laid the groundwork for the offseason at this week’s GM Meetings, chief baseball officer Craig Breslow suggested the Sox are evaluating ways to land a top-flight starter.

“We know we need to raise the ceiling of the rotation,” Breslow said (link via Alex Speier of the Boston Globe). “I think there are a lot of ways to do that, but we’re going to be really, really open-minded.”

The most straightforward solution is through free agency. Corbin Burnes and Blake Snell headline the rotation class. Max Fried and Jack Flaherty aren’t far behind. Nathan Eovaldi, Yusei Kikuchi and Sean Manaea all project as mid-rotation arms and should be available on shorter-term deals based on their ages. Eovaldi is probably looking at a two-year pact with a lofty annual value, while Manaea and Kikuchi should get three or four years.

Snell and Burnes are the unquestioned aces. Fried is a little more of a borderline ace but he’d slot into the top two spots in any rotation. Flaherty has flashed ace-caliber ability, albeit with less consistency. They’d all project as the #1 starter in Boston. The Red Sox have a group of quality mid-rotation starters but don’t have a true #1 arm.

Tanner Houck is the closest thing to an ace among the internal options. He’s coming off an excellent year, turning in a 3.12 ERA through 30 starts. Houck’s profile is built more around huge ground-ball numbers than swinging strikes. Brayan Bello and Kutter Crawford each took 30+ starts with earned run averages narrowly below 4.50. They fit into the middle of a rotation. So does Lucas Giolito, who’ll be back after missing all of 2024 due to elbow surgery. Giolito has performed like a #2 starter at his best, but home run issues led him to post an ERA approaching 5.00 in both 2022 and ’23.

The Sox are awaiting word from Nick Pivetta on whether he’ll return. Boston somewhat surprisingly tagged Pivetta with a $21.05MM qualifying offer. The right-hander has until November 19 to decide whether to accept. (Jon Heyman of the New York Post wrote yesterday that while Pivetta is weighing the QO, he has found a nice market in free agency’s opening days.) As with the rest of the Sox’s in-house options, he projects as more of a third or fourth starter. Pivetta has the strikeout and walk profile of a top-end arm, but he has been very susceptible to the longball over his career. He has been a durable source of innings but doesn’t have a single sub-4.00 ERA showing on his résumé.

Boston has a few interesting depth arms beyond that. Cooper Criswell and Richard Fitts performed well when called upon. Garrett Whitlock could be back from UCL surgery in the second half, though his injury history could point to a return to the bullpen. Quinn Priester is a former top prospect who hasn’t put things together at the MLB level.

The Red Sox have good rotation depth, especially if Pivetta accepts the QO. There’s certainly value in not giving starts to sub-replacement level pitchers. The Sox are well positioned to do that, but it’d be difficult to compete for an AL East title without having a legitimate #1 starter.

Boston should have the payroll capacity to make a run at one of the top starters. They also have the high-end prospect capital to push for any trade candidates. Garrett Crochet could be the prize of the rotation trade market. He flashed ace upside in his first season as a starting pitcher. The White Sox are likely to move him this offseason. Chicago GM Chris Getz said they’ll target position player help in trade returns.

Boston has four hitters who landed among Baseball America’s top 25 prospects. A trade involving top 10 talents Roman Anthony and Marcelo Mayer would be a shock, but catcher Kyle Teel or breakout infielder Kristian Campbell could center a return for a high-end starter. Boston could also deal lefty-hitting outfielder Wilyer Abreu for pitching help if they’re confident Anthony will be a productive MLB player next year.

There’s been some speculation about the Sox moving young first baseman Triston Casas as well, but Breslow shot that notion down this week. “I’m not sure where that’s coming from,” Boston’s front office leader said (X link via Christopher Smith of MassLive). “Casas is a guy that we think has 40-home run potential. He’s young and also has a great strike zone discipline and controls an at-bat. We’re excited he’s on our team.”

In addition to the rotation pursuit, Boston needs to land bullpen help. Kenley Jansen and Chris Martin each hit free agency. While a Martin return is possible, Jansen is almost certainly signing elsewhere. Liam Hendriks should be back from Tommy John surgery and could pitch in the ninth inning behind Rule 5 breakout Justin Slaten. There’s room for another leverage arm, especially one who throws left-handed.

Breslow acknowledged that the Red Sox are looking for lefty bullpen help to add a late-inning arm alongside Cam Booser and Brennan Bernardino (Smith link). Breslow also spoke generally about wanting to add velocity and a swing-and-miss element to the relief group. Boston relievers ranked 23rd in strikeout rate and 26th in swinging strike percentage this year. Free agency’s top reliever, Tanner Scott, is a lefty who throws in the upper 90s and misses bats in bunches. He’s well above the rest of the left-handed class, so he could command a four-year deal that exceeds $50MM.

Cardinals Reach New Broadcast Deal With Diamond Sports Group

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The Cardinals announced this afternoon that they’ve reached a new multi-year contract with FanDuel Sports Network to continue carrying in-market broadcasts. The deal includes a streaming partnership that’ll allow consumers in the St. Louis area to access games on the FanDuel app. Hannah Wyman and Derrick Goold of the St. Louis Post-Dispatch write that app subscribers can view the games without a television provider, which should drastically reduce blackouts.

FanDuel Sports Network, which is a property of Diamond Sports Group, is the same TV network that had broadcasting rights to Cardinals games under the previous Bally Sports moniker. Last month, Diamond abandoned its previous deals with the Cards and 11 other teams as it continues to navigate bankruptcy. Diamond expressed openness to renegotiating at least some of those deals at reduced fees.

The Cards were willing to do so despite the associated revenue losses. Wyman and Goold report that they’ll take a 23% reduction next season compared to what they would’ve made on the prior contract. With the previous deal calling for roughly $75MM in rights fees, the Cardinals stand to drop roughly $17.25MM to the $57-58MM range. The team did not specify the length of this contract beyond calling it a multi-year partnership. Evan Drellich and Katie Woo of the Athletic report that the deal does not stretch into the 2030s and affords some measure of flexibility depending on the future state of sports media.

For fans, the streaming addition is the biggest direct news. The deal is indirectly relevant to the fanbase by providing the organization with a bit of clarity on their revenue situation. The expected revenue losses have long pointed to a dip in spending. That was reinforced by the decision to decline a few team options, most notably a $12MM call on Kyle Gibson. They’re not expected to pursue reunions with free agents Paul Goldschmidt and Andrew Kittredge.

That could account for most of the payroll reduction. St. Louis has a little less than $110MM committed. Their arbitration class is projected for something in the $19MM range. That leaves the Cards nearly $50MM south of this past season’s Opening Day spending. The Cardinals are going to get trade interest on a number of veterans as they embrace a retooling effort and evaluate younger players. Speculation about a complete teardown was quieted this week with reports that Willson Contreras and Sonny Gray, both of whom have no-trade clauses, are unlikely to move after suggesting they preferred to stay in St. Louis.

The Cardinals become the second team to negotiate a new deal with Diamond after its previous broadcasting agreement was dropped. The Marlins reportedly reached a contract to stay on FanDuel Sports Network last month, though Miami hasn’t made any official announcement. Diamond is abiding by its original contract with the Braves, so it’ll carry at least three teams next year.

ESPN’s Alden González writes that MLB will carry broadcasts for the Twins, Guardians and Brewers — all of whom were dropped by Diamond. (They join the Padres, Diamondbacks and Rockies in that regard.) The Rangers said they have no plans to renegotiate with Diamond but are still exploring other opportunities. Plans for the other five teams — the Reds, Rays, Tigers, Angels and Royals — are still undetermined.

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.

Mets, Rico Garcia Agree To Minor League Deal

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The Mets are in agreement with free agent reliever Rico Garcia on a minor league contract, reports Anthony DiComo of MLB.com (X link). The Gaeta Sports Management client gets an invite to big league Spring Training on a deal that would pay him a $900K base salary if he makes the big league roster.

Garcia is trying to work back to the big leagues after spending this year in Triple-A. The righty had a nice year for Washington’s top affiliate. Garcia saved 20 games and turned in a 3.94 ERA through 61 2/3 innings. He struck out a massive 34.1% of opposing hitters. That came with a fair number of free passes, as an 11.5% walk rate is perhaps the biggest reason he didn’t get an MLB look.

The 30-year-old Garcia has pitched in parts of four big league campaigns between five teams. He has struggled to a 7.32 earned run average over 35 2/3 innings. His most recent MLB action came with 10 appearances between the Athletics and Nationals in 2023. Garcia hasn’t carried over much bat-missing ability to the highest level. His 12.4% career strikeout rate is well below average.

New York has made a couple bullpen depth additions since the offseason began. They gave Dylan Covey a major league contract last week. The 40-man spot gives Covey a leg up on Garcia and whichever other relievers the Mets add as non-roster invitees, but there’s likely to be a fair amount of competition for middle relief roles in camp.

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