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Red Sox Exploring Top Of Rotation Market

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Starting pitching is a clear priority for the Red Sox. Boston’s new chief baseball officer Craig Breslow acknowledged as much last week, although they’re certainly not alone in that pursuit.

That could extend to the top end of the market. Jeff Passan of ESPN wrote on Tuesday that the Sox were targeting front-line starting pitching. Jon Heyman of the New York Post suggests Boston is looking to add multiple starters this offseason. It stands to reason Breslow and his staff could look to pair an impact acquisition with a more affordable, if lower ceiling, addition.

Free agency offers a few possibilities. The Red Sox surely have some level of interest in Shohei Ohtani, but he wouldn’t be a factor in the 2024 rotation after his elbow procedure. Yoshinobu Yamamoto, Blake Snell, Aaron Nola and Jordan Montgomery are generally regarded as the next tier of free agent starters. AL Cy Young runner-up Sonny Gray is probably below that group in earning power because he’s 34 years old but fits in terms of short-term impact.

This afternoon, Ian Browne of MLB.com suggested in an appearance on the ITM podcast that the Boston front office prefers Montgomery to Snell or Nola (Twitter link via Steve Perrault). Sox executives chatted with Montgomery’s representatives at the Boras Corporation during last week’s GM Meetings, although they’re presumably targeting multiple Boras clients to varying degrees. (Snell is also represented by the Boras Corp.)

Montgomery turned in a 3.20 ERA through 188 2/3 innings between the Cardinals and Rangers. It was third straight sub-4.00 showing over 30+ starts. Montgomery chipped in 31 frames of 2.90 ERA ball during Texas’ run to a World Series. During the regular season, the 30-year-old southpaw struck out a near-average 21.4% of opponents while keeping his walks to a tidy 6.2% clip.

He may not have the upside of Nola or Snell, each of whom misses more bats. Montgomery has better control than Snell and hasn’t had the spotty ERA or home run issues that have troubled Nola in two of the past three seasons, however. He also has the advantage of not requiring a signing team to surrender draft compensation. The midseason trade rendered Montgomery ineligible for the qualifying offer. Snell, Nola and Gray all received the QO. Yamamoto, of course, is not subject to the QO as a foreign professional.

Roster Resource projects the Sox for roughly $189MM in luxury tax commitments. That’s well below the $237MM base threshold, leaving plenty of potential spending room for Breslow and his staff. It’s also possible the Sox look to the trade market for rotation help. It’s difficult to envision the Rays trading Tyler Glasnow in division. Players like Corbin Burnes or Shane Bieber could be available as they enter their final seasons of arbitration eligibility.

Boston’s current rotation mix is a high-variance unit. Nick Pivetta, Chris Sale, Brayan Bello, Tanner Houck and Garrett Whitlock have all shown substantial upside.They also come with uncertainty to varying degrees. Houck and Whitlock might be better suited for relief. That could also be true of Pivetta, although he finished the 2023 season pitching very well over multiple innings. Sale has battled injuries and Bello seemed to wear down in the second half of his first full MLB season.

Blake Snell Wins National League Cy Young Award

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Free agent left-hander Blake Snell has been named the National League Cy Young Award winner for 2023, per an announcement from the Baseball Writers Association of America. Logan Webb of the Giants finished second in the voting while Zac Gallen of the Diamondbacks finished third.

Snell, 31 next month, has now earned a Cy Young award for the second time in his career. The first trophy was in the American League, with Snell winning as a member of the Rays in 2018. He is just the seventh pitcher to win the award in both leagues, joining Roger Clemens, Randy Johnson, Pedro Martínez, Max Scherzer, Gaylord Perry and Roy Halladay.

The left-handed Snell hasn’t been the most consistent pitcher in his career, with both his health and performance wobbling over the years, but his two award-winning campaigns have been excellent. His first trophy came after posting an earned run average of 1.89 with the Rays and this second piece of hardware was earned by posting a 2.25 for the Padres this year. His most recent campaign saw him walk 13.3% of batters faced but he danced around those by striking out 31.5% of his opponents and keeping the ball on the ground at a 44.4% clip. He probably had some help from the baseball gods as his .256 batting average on balls in play and 86.7% strand rate were both on the lucky side of average, but his punchouts and grounders surely helped him somewhat as well.

Outside of those two campaigns, the results have been far more mixed. He got to 180 innings pitched in his award-winning campaigns but hasn’t reached 130 in any other season. He also hasn’t posted an ERA lower than 3.24 in any of them.

Of course, that doesn’t matter for the Cy Young voting. It’s a single-season award and his year-to-year consistency is not something for the voters to consider. Snell’s voting wasn’t quite unanimous but he got 28 of the 30 first-place votes. But his overall track record will be of concern to the clubs considering signing him as a free agent. Pitchers with multiple Cy Youngs don’t hit free agency every day but it’s also incredibly rare for a pitcher to put so many runners on base without allowing them to score. Regardless of those concerns, MLBTR predicted Snell to land a contract of $200MM over seven years and he’s already garnering plenty of interest.

Webb had a 3.25 ERA in 216 innings for the Giants this year, which got him one of the first-place votes and 17 for second. Gallen had a 3.47 ERA in his 210 innings, which led to one first-place vote and three for second. In the full voting, which can be seen here, votes also went to Spencer Strider, Justin Steele, Zack Wheeler, Kodai Senga and Corbin Burnes.

Padres, Dodgers, Giants Interested In Blake Snell

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The Padres, Dodgers and Giants are all interested in free-agent left-hander Blake Snell, reports Jon Heyman of The New York Post in a discussion with Lauren Shehadi of MLB Network (video courtesy of MLB Network on X).

Snell, 31 next month, is fairly unique and will likely have wide variances in how he’s valued by clubs. On the positive side, he just finished 2023 with a 2.25 earned run average over his 32 starts. His 31.5% strikeout rate was second among qualified hurlers, trailing only Spencer Strider. He has a decent shot at winning a Cy Young award tonight, which would be the second of his career after winning it with the Rays in 2018.

But Snell has somehow managed to accomplish all of that despite giving out many free passes. He has walked 10.9% of batters faced in his career and that figure was cranked up to 13.3% in 2023. For context, the major league average in the most recent season was 8.6%. The strikeouts surely helped him prevent many of those runners from scoring, but so did a strong 44.4% ground ball rate. But maintaining his .256 batting average on balls in play and 86.7% strand rate would be hard to do over an extended timeline, which is why his 3.44 FIP and 4.06 SIERA suggest his ERA was perhaps flattering him by more than a full run.

He’s also not exactly a workhorse, partly due to some injuries in his career but also due to those walks preventing him from pitching deep into games. He tossed 180 2/3 innings in 2018 and a flat 180 in 2023, with those two seasons being his highest such tallies. Each other season of his career has seen him come in under 130 frames.

Despite some concerning elements in his profile, free agents with multiple Cy Young trophies don’t grow on trees and Snell could be just that in a few hours’ time. Earlier this month, MLBTR’s list of the Top 50 Free Agents predicted Snell could get a contract of seven years and $200MM. That’s based on the fact that pitchers with the potential for dominance can still get paid, even if it’s not a volume proposition. Carlos Rodón got six years and $162MM with a longer injury track record than Snell and never once getting to the 180-inning mark.

That will likely limit Snell’s market to the clubs with deeper pockets, but it sounds like he is still plenty popular. A return to the Padres would make plenty of sense from a strict baseball perspective. The club obviously likes him since they acquired him three years ago, giving up four prospects in the process. The club also has significant rotation needs, with Snell’s free agency coinciding with that of Michael Wacha, Seth Lugo and Nick Martinez. That leaves the Friars with Joe Musgrove and Yu Darvish as the only locks for their 2024 rotation.

The financial fit would be a little harder to see, however. The club is reportedly set to cut payroll significantly for next year, going from the $250MM range to the $200MM range. Roster Resource currently pegs their payroll for next year at $198MM, leaving very little wiggle room. The club is reportedly shopping reliever Scott Barlow and has at least some openness to Juan Soto trades, but the budget is obviously tight. Moving Soto for major league-ready pieces and then signing Snell with the money saved would be one way to compete again in 2024, but there would be plenty of risk in that path.

Like the Padres, the Dodgers have a reduced starting staff. Julio Urías, Clayton Kershaw and Lance Lynn are all now free agents. It’s unclear what the future holds for Urías given an ongoing domestic violence investigation, which could lead to his second such suspension of his career. Kershaw recently underwent shoulder surgery and has an uncertain path forward, perhaps having to miss the first half of 2024. Lynn’s home run troubles were pronounced enough that the Dodgers probably don’t want him back. Among guys still on the roster, Dustin May and Tony Gonsolin are both recovering from surgery and may miss all of 2024.

That leaves them with Walker Buehler, who missed all of 2023 due to his own surgery rehab, and then a batch of guys who were rookies coming into 2023: Bobby Miller, Ryan Pepiot, Michael Grove, Emmet Sheehan and Gavin Stone. There’s also Nick Frasso and Landon Knack, who were just added to the roster yesterday, but adding some proven MLB arms into the mix is a sensible path forward. Heyman lists them as one of many clubs that are looking for multiple starters this winter.

Their payroll situation is far more pleasant than that of the Padres, as Roster Resource has them at just $142MM right now, along with a CBT number of $159MM. Non-tendering Ryan Yarbrough and Yency Almonte would cut both of those figures by over $5MM. It’s unknown how high they want to take the budget in 2024 but they’ve been as high as $280MM in the past, per Cot’s Baseball Contracts. Even if they want to stay under the luxury tax in 2024, the base threshold is $237MM next year, meaning they have around $80MM in wiggle room.

However, they may end up using a big chunk of that on Shohei Ohtani, with many observers considering them the most likely landing spot for the two-way superstar. Signing a player like Snell would also go against their track record. Despite their big payrolls, they haven’t really spent wildly on long-term deals for pitchers. In the past decade, they gave an eight-year deal to Kenta Maeda, but with a minimal guarantee of just $25MM. Since the Zack Greinke signing way back in 2012, they haven’t given a free agent pitcher more than $50MM.

The Giants also have some money to spend and seem motivated to make a big splash. Roster Resource has their 2024 payroll at $147MM and their CBT calculation at $170MM. They’ve topped out at $200MM in past seasons, per Cot’s, but might be willing to push farther this winter. Recent attempts to land star players have fallen short, with the club just missing on guys like Bryce Harper, Aaron Judge and Carlos Correa. It is expected that they will be motivated to get something splashy done this time around and could be quite aggressive in trying to do so.

President of baseball operations Farhan Zaidi already spoke about the club’s plans for adding to the rotation, which makes sense given the question marks behind Logan Webb, and Heyman says they are also one of the clubs looking for multiple starting this winter. They picked up their option on Alex Cobb for 2024 but he will be coming back from hip surgery. Anthony DeSclafani and Ross Stripling will each be coming off of disappointing seasons in 2023 while guys like Kyle Harrison and Keaton Winn are fairly unproven.

Broadly speaking, the demand for starting pitching is high, with Heyman reporting that there are eight teams looking to add multiple pitchers this winter. Not all of them will have the money and/or the appetite for Snell but it seems like general the market conditions could be working in his favor.

Phillies Rumors: Nola, Yamamoto, Snell, Hader

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Aaron Nola unsurprisingly rejected the Phillies’ one-year qualifying offer this week and is now squarely on the open market in search of a long-term contract. The Phils haven’t been shy about their hope to bring him back, with president of baseball operations Dave Dombrowski saying in an appearance on MLB Network’s Hot Stove last week that the team “loves” Nola and remains hopeful of working out a new contract (video link to the full nine-minute interview).

“We were not able to get him signed in spring training, which was unfortunate for us, but we understood his scenario,” Dombrowski said. “Now he’s in a spot where he has the ability to talk to 29 other clubs, so it doesn’t get any easier. But I do think there’s mutual interest in both parties trying to get something done. Hopefully for us we can get it done, because we absolutely love Aaron and what he does for the organization, not only as a person but on the field.”

More recently, The Athletic’s Jayson Stark took a look at the Phillies’ offseason decisions, writing this morning that other clubs don’t get the impression that the Phillies are willing to “go all out” to win a bidding war to retain Nola’s services. Some of that stems from the reportedly sizable gap the two parties faced in spring training. Some clubs feel the demand in Nola is substantial enough to push him to a seven-year contract, per Stark.

The Phillies ostensibly weren’t willing to go to that length (at least not at a premium annual value) back in spring, so at least logically speaking, there’s reason to doubt whether they’d be willing to do that now that Nola has pitched to a second pedestrian ERA in three seasons — albeit with still-pristine strikeout and walk rates and a big showing in the postseason.

Dombrowski was rather clear last week in asserting that the Phillies are only looking to add one starter. He stated in that MLBN appearance that if the Phils are able to re-sign Nola, their rotation will be “set.” The veteran baseball ops leader pointed to Zack Wheeler, Ranger Suarez and Taijuan Walker as locks for the rotation, adding that his club very much likes lefty Cristopher Sanchez — understandably so. The 26-year-old southpaw logged a 3.44 ERA in 99 1/3 innings, striking out 24.2% of his opponents against a brilliant 4% walk rate. Sanchez kept the ball on the ground at a terrific 57% clip as well.

While Nola may be the Phillies’ preference, bidding is expected to be competitive given his durability, command, ability to miss bats and his broader track record of run prevention. His ERA marks in 2021 and 2023 haven’t stood out, but teams regularly have demonstrated that they’re comfortable evaluating and projecting pitchers on far more than just their rudimentary earned run averages. Add in a perennially weak Phillies defense and homer-friendly home park, and it’s easy to see why other teams might be even more willing to take a pair of mid-4.00s from Nola with a grain of salt.

If Nola lands elsewhere, the Phillies will have to pursue other options, as Dombrowski alluded to. Longtime Phillies beat writer Jim Salisbury said in a radio appearance yesterday on WIP’s Midday Show that the Phils have “legitimate” interest in Yamamoto (Twitter link, with audio). They’re not connected to the 25-year-old NPB ace as frequently as other big-market clubs given the team’s general lack of success at luring star players from NPB and the KBO, but that shouldn’t expressly rule them out from making a winning bid and persuading Yamamoto to sign in Philadelphia, of course. Even teams with storied histories of signing NPB stars had to begin that track record at some point, after all.

One name not believed to be especially high on their list, per Stark, is that of likely Cy Young winner Blake Snell. Stark reports that the Phils are “lukewarm” on the lefty, though an eventual run at him could still take place if multiple preferred options land elsewhere.

It’s a similar story with closer Josh Hader, albeit for different reasons. While MLB Network’s Jon Morosi suggested Monday the Phillies could be a match with Hader, Stark indicates that opposite, writing that the Phils prefer not to head into the season with a dedicated closer, which is surely a role that Hader will prioritize in free agency. He’s been exclusively a ninth-inning (or later) option for the Brewers and Padres in each of the past three seasons and hasn’t worked more than one inning in an appearance since Sept. 2019. Even if the Phillies love Hader — and presumably, just about every team loves him from a pure talent perspective — their preferred usage of him might not align with Hader’s own goals on the market.

Readers — Phillies fans in particular — will want to check out Stark’s column in full, as it contains multiple quotes from Dombrowski and plenty of context on the former Marlins, Tigers and Red Sox front office leader’s tendencies in the offseason.

Seven Players Reject Qualifying Offers

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All seven players who received a $20.325MM qualifying offer this year have rejected it, reports Mark Feinsand of MLB.com. The deadline for a decision is today at 3 pm Central but it seems all of Shohei Ohtani, Cody Bellinger, Matt Chapman, Sonny Gray, Josh Hader, Aaron Nola and Blake Snell have already made up their minds.

There wasn’t much drama with any of these decisions, as all seven were considered locks to reject and still collect sizeable free agent contracts. On MLBTR’s list of the Top 50 Free Agents, six of the seven player were predicted to get a nine-figure deal in the coming months. The only exception was Gray, who was limited by his 34 years of age to a prediction of $90MM over four years. The players had one week to gauge the market after receiving those QOs and it doesn’t seem any of them got any sense that accepting the one-year deal was a wise course of action.

There would have been more drama if some borderline candidates had been issued QOs, but it was a fairly conservative group this winter. Last year, 12 players received QOs and Martín Pérez and Joc Pederson eventually accepted. But none of this year’s on-the-cusp players got the offer, with each of Teoscar Hernández, Jorge Soler, J.D. Martinez, Rhys Hoskins, Kenta Maeda and Kevin Kiermaier heading into free agency unencumbered.

Each of the players who received and rejected the QO will now net their former club draft pick compensation in the event they sign elsewhere this winter. The value of that compensation will depend upon whether the club received revenue sharing or paid the competitive balance tax in 2023. The signing club would also be subject to draft pick forfeiture and perhaps a reduction of international bonus pool space, with the penalty also dependant on revenue sharing and CBT status.

MLBTR Podcast: Top 50 Free Agents Megapod (with Tim Dierkes, Steve Adams and Anthony Franco)

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The latest episode of the MLB Trade Rumors Podcast is now live on Spotify, Apple Podcasts, and wherever you get your podcasts! Make sure you subscribe as well! You can also use the player at this link to listen, if you don’t use Spotify or Apple for podcasts.

This week, host Darragh McDonald is joined by Tim Dierkes, Steve Adams and Anthony Franco of MLB Trade Rumors to discuss this year’s list of the Top 50 Free Agents! Specific areas of discussion were…

Check out our past episodes!

Seven Players Receive Qualifying Offers

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Seven players in this year’s free agent class have been tagged with the qualifying offer, reports Jeff Passan of ESPN (X link). Those players are:

Previous reports had already indicated that Teoscar Hernández, Mitch Garver, J.D. Martinez and Rhys Hoskins had not received the QO. The same is true of Jorge Soler and longer-shot candidates like Kenta Maeda and Kevin Kiermaier.

The QO is valued at $20.325MM this offseason. Players have until next Tuesday to decide whether to accept. The seven players who were tagged all seemed virtual locks to both receive and decline it. It’s hard to envision anyone in this group taking a one-year pact.

Indeed, the more surprising aspect of this year’s class were the number of players who were not qualified. Last winter, 14 players were tagged with the QO. Borderline cases Joc Pederson and Martín Pérez wound up accepting. Teams were far more risk-averse this winter, shying away from the potential lofty commitment for all but the market’s top options.

[Related: Which Picks Would Each Team Forfeit By Signing A Qualified Free Agent?]

With QO decisions now made, every free agent is allowed to begin negotiations with other teams. The five-day window of exclusive negotiation with their incumbent club is over. If these players sign elsewhere, their teams would be entitled to compensation.

The Twins, as a revenue sharing recipient, stand to receive the greatest compensation. Assuming Gray beats a $50MM guarantee (a good bet), Minnesota’s compensatory pick would fall after the first round in next year’s draft. The Cubs, as a team that neither receives sharing nor paid the luxury tax, would land a choice that falls between Competitive Balance Round B and the start of the third round for Bellinger’s departure.

San Diego, Toronto and Philadelphia all surpassed the CBT threshold this year. They’d therefore receive the lowest compensation — a draft choice between Rounds 4 and 5. The Angels finished the season right on the border of the $233MM threshold and don’t yet know whether they paid the tax. As a result, they’re still awaiting word on whether they’d land the pick before the third round or after the fourth if Ohtani heads elsewhere.

Michael Wacha Opts Out; Padres Give Qualifying Offers to Blake Snell, Josh Hader

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The Padres have extended qualifying offers to free agent lefties Blake Snell and Josh Hader, reports AJ Cassavell of MLB.com. The club also announced a batch of transactions, which includes each of Michael Wacha, Seth Lugo and Nick Martinez electing free agency. Meanwhile, Matt Carpenter exercised his player option to stick with the club. Additionally, the club outrighted right-hander Nick Hernandez and claimed right-hander Jeremiah Estrada off waivers from the Cubs.

The decisions of Lugo and Martinez were previously reported, as was the news on Carpenter. As for Wacha, it was reported on the weekend that the club was declining a two-year option to retain him for 2024-25. Wacha then had the opportunity to trigger a $6.5MM player option for 2024 but has now turned that down.

Wacha signed a four-year deal with the Padres, though one with a convoluted structure. The club would first have to decide on a two-year, $32MM option for the 2024-25 seasons, which they declined. Wacha then had three straight player options which could have paid him $6.5MM in 2024 and then $6MM in the following two seasons. But he has now turned that down, leaving three years and $18.5MM on the table in search of a new deal.

Although he was largely injured and/or ineffective for much of the 2018 to 2021 period, Wacha has now had two straight solid seasons. He posted a 3.32 ERA with the Red Sox in 2022 and a 3.22 mark in his first season in San Diego. Injuries still limited his total volume of work, as he logged 127 1/3 innings for the Sox and 134 1/3 for the Friars, but the combination of workload and effectiveness was nonetheless the best form he’s showed in years.

He’ll now head back to free agency in search of his next deal. The starting pitching market is headlined by guys like Snell, Yoshinobu Yamamoto, Aaron Nola and Jordan Montgomery but Wacha will be somewhere in the tie of solid mid-rotation or back-end guys, alongside Lugo, Jack Flaherty and Mike Clevinger.

The fact that Snell and Hader received $20.325MM qualifying offers is no surprise. The two of them are going to be some of the top available free agents this winter, making them a lock to reject them, something recently highlighted by MLBTR. Snell posted a 2.25 earned run average in 2023 and could receive the second Cy Young Award of his career in the coming days. Hader has long been one of the most dominant relievers in the league and had a 1.28 ERA in the season that just ended. Both should be able to receive nine-figure contracts even with a QO attached.

Any impending free agent can receive a qualifying offer as long as they spent the entire season with just one club and haven’t received a QO before. If Hader and/or Snell sign with other clubs after rejecting the QO, the Padres will receive draft pick compensation.

The departures of Wacha, Snell, Lugo and Martinez will leave the Padres fairly short-handed in their rotation. They still have Yu Darvish and Joe Musgrove but they are followed on the depth chart by unproven options like Matt Waldron, Jay Groome, Adrián Morejón and Pedro Avila. They will presumably be looking to add to that group but will have to do so while juggling significant financial concerns.

Hernandez, 29 next month, was just added to the roster in September. He made two appearances, allowing four earned runs in three innings, giving him a career ERA of 12.00 in that tiny sample. He threw 61 innings in the minors in 2023, split between Double-A and Triple-A, with a 3.84 ERA, 32.7% strikeout rate and 8.4% walk rate. Any of the 29 other clubs could have added him to their roster today but decided to pass.

Estrada, 25, made 17 appearances for the Cubs over the past two seasons with a 5.51 ERA in that time. His 25.9% strikeout rate is a bit above average but his 18.5% walk rate is concerning. That’s generally been a pattern in the minor leagues as well, with Estrada striking out 31.2% of hitters at Triple-A in 2023 but walking 18.8%. He is still optionable next year, so the Padres will add some pitching depth that comes with roster flexibility, while they will presumably try to help Estrada improve his control going forward.

Image courtesy of USA Today Sports.

Previewing Upcoming Qualifying Offer Decisions: Pitchers

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The World Series will be completed in less than a week, which means the offseason is imminent. Almost right away, some key decisions will have to be made. Within five days of the World Series ending, contract options will need to be either exercised or declined and clubs will also have to choose whether or not to issue qualifying offers to eligible players.

A player is eligible for a qualifying offer if they have never received a QO before and spent the entire season with the same club. The value of the QO changes annually, calculated by taking the average salary of the 125 highest-paid players in the league. That means it generally rises as salaries increase over time, with this year’s QO expected to land around $20.5MM. If a player receives and rejects a qualifying offer, he becomes a free agent. If he then signs elsewhere, the signing team is subject to draft pick forfeiture and possibly other penalties, while their previous club receives draft pick compensation.

MLBTR is taking a look at the candidates, with one post focusing on the position players and this one looking at the pitchers.

No-Doubters

These five are slam dunks to receive and reject the qualifying offer. Ohtani won’t pitch in 2024 after undergoing elbow surgery, but he is still expected to hit and will perhaps return to the mound in 2025. As one of the best hitters in baseball and the potential for two-way contributions down the road, he’s in line for a record-setting contract. Nola is coming off a down season relative to his own standards but has an excellent track record that will put him in line for a nine-figure deal even with the QO attached. Gray’s total earning power will be capped somewhat by the fact that he turns 34 in a week but his excellent work in 2023 should be able to get him a new deal around $20MM per year over multiple seasons. Snell just wrapped up an excellent campaign, finishing with a 2.25 ERA that could see him net a second career Cy Young award. That sets him up for a huge payday even after rejecting the QO. Hader has been one of the best relievers in the game for a long time and could challenge Edwin Díaz for the biggest contract ever for a reliever.

Special Case

Kershaw has been eligible for a qualifying offer in each of the past two offseasons but didn’t receive one. That wasn’t a reflection of his performance but a sign of respect. In each case, Kershaw went into the winter not knowing if he wanted to come back to the Dodgers, jump to his hometown Rangers or retire. The Dodgers decided both times not to issue him the QO so that he wouldn’t have to make a rushed decision at the beginning of the offseason. Since Kershaw is once again undecided on his future, it seems fair to expect that the Dodgers will decline to extend the QO, though Kershaw would warrant one in a vacuum.

Possible Candidates

Lugo spent most of his career working out of the bullpen but hit free agency a year ago and drew plenty of interest as a starter. The Padres eventually brought him aboard via a two-year deal with a $15MM guarantee and incentives, as well as an opt-out after the first season.

The righty made the most of the opportunity, making 26 starts and logging 146 1/3 innings with a 3.57 earned run average. He stuck out 23.2% of batters faced, walked 6% and kept the ball on the ground at a 45.2% clip. There were some concerns about Lugo’s ability to hold up over a full season, both since he hadn’t had that kind of workload before and because he had a slight tear of his UCL in 2017 that wasn’t surgically addressed. But in 2023, Lugo made just one trip to the injured list, missing just over a month due to a calf strain.

Now that Lugo has proof of concept as a starter, he should have greater earning power than he did a year ago, even though he’s about to turn 34. Turning down the one year and $7.5MM left on his deal should be an easy call, but then the Padres will have a more difficult choice. It would be hard for Lugo to turn down a 2024 salary more than twice what he made in the prior season, so there would be a decent chance he accepts a QO. With the club reportedly looking to cut payroll, they may not want to take that chance.

Maeda has had his ups and downs in recent years but is heading into free agency with some momentum. He posted a 2.70 ERA in 2020 but then that figure jumped to 4.66 in 2021 before he underwent internal brace surgery on his elbow. He missed all of 2022 and then struggled early in 2023. In his fourth start of the season, he was shelled by the Yankees, allowing 10 earned runs in three innings. He was then placed on the injured list with a triceps strain while sporting an ERA of 9.00 for the year.

But after getting healthy, his results were much better. He was activated from the IL in late June and made 17 more appearances the rest of the way. He tossed 88 1/3 innings with a 3.36 ERA, 29% strikeout rate and 7% walk rate. Though his ERA for the whole year finished at 4.23, it seems fair to conclude that the early-season injury inflated that number.

The righty has never had a massive salary locked in. When he initially came over from Japan, the Dodgers signed him to an incentive-laden deal that guaranteed him $25MM over eight years. That came in the form of a $1MM signing bonus, $3MM salary each year and $6.5MM in incentives available each season based on games started and innings pitched. If he suddenly had a $20.5MM guarantee in front of him for his age-36 season, that would likely be very tempting.

The Twins aren’t one of the top payroll teams under normal circumstances and may need to cut back spending due to uncertainty around their TV revenues. They may not want to blow a huge chunk of their budget right at the beginning of the offseason, especially when their rotation is already in decent shape with Pablo López, Joe Ryan, Bailey Ober, Chris Paddack and Louie Varland currently pencilled in.

Wacha had some strong seasons earlier in his career with the Cardinals, but injuries became an issue more recently. He settled for a $3MM guarantee while joining the Mets for 2020, then was limited to 34 mediocre innings in the shortened season. The Rays took a shot on him in 2021 with another $3MM guarantee and he stayed healthy enough to log 124 2/3 innings with a 5.05 ERA. That relatively healthy campaign was enough to get him a one-year, $7MM deal with the Red Sox for 2022, and he then tossed 127 1/3 innings for that club with a 3.23 ERA.

He lingered on the open market for a while last offseason but eventually landed a four-year, $26MM guarantee from the Padres with a layered option structure. After the 2023 World Series, the Friars will have to decide whether or not to trigger two $16MM club options for 2024 and 2025, effectively a two-year, $32MM deal. If they decline, Wacha has a $6.5MM player option for 2024 and then $6MM player options for 2025 and 2026.

The righty is coming off another decent season. Though his shoulder landed him on the IL this year, just as it had in 2022 and 2020, he was able to make 24 starts and throw 134 1/3 innings with a 3.22 ERA. His 22.4% strikeout rate and 7.8% walk rate were both close to league average, though he may have benefitted from a .266 batting average on balls in play and 79.7% strand rate. His 3.89 FIP and 4.43 SIERA suggest his ERA might not be wholly sustainable.

As mentioned in the Lugo section above, the Padres are facing a budget crunch. Though they are likely pleased with Wacha’s results in 2023, would they want to give him a pay raise by triggering that option? If they pass on that, Wacha would likely turn down his player option and return to free agency. He would be eligible for a qualifying offer at that point, which would be a higher salary than the club option but on a shorter commitment. The Padres effectively have to decide between 1/20 or 2/32 or simply letting Wacha walk.

Long Shot

Some fans of the Yankees might shudder at the thought of the club bringing back Montas at a higher salary, but it’s not a completely crazy idea. Though he was hurt or ineffective from the moment he donned pinstripes, he’s not too far removed from some strong results. From 2019 to 2021, he posted an ERA of 3.51 over 336 innings pitched. In that time, he struck out 26.3% of batters faced, issued walks at a 7.3% clip and kept 43.7% of batted balls on the ground. Among pitchers with at least 300 innings pitched in that time, that ERA ranked him 21st in the majors. Even in 2022, prior to the infamous trade, he was still quite good. He registered an ERA of 3.18 in his 19 starts for the A’s that year.

Players returning from injury absences can often still find themselves big salaries on short-term deals. Noah Syndergaard got one year and $21MM from the Angels after missing most of 2020 and 2021 rehabbing from Tommy John surgery. Corey Kluber got $11MM from the Yankees even though he was 35 years old and made just eight appearances over the two previous campaigns. James Paxton got $10MM from the Red Sox under similar circumstances.

The Yankees have a couple of long-term contracts in their rotation with Gerrit Cole and Carlos Rodón. The latter hasn’t worked out well so far, with Rodón injured for much of 2023. The club needs rotation reinforcements with Michael King, Clarke Schmidt and Nestor Cortes pencilled into the back end, each of whom comes with some question marks. They could add another marquee free agent, but maybe they’d prefer to take a short-term flier on a player they have obviously liked for a long time, giving up four prospects to acquire him and Lou Trivino just over a year ago. They then agreed to a $7.5MM arbitration salary for 2023 even as questions about his shoulder lingered.

Though there’s an argument for the possibility, it ultimately seems like the odds are against this happening. The Montas trade has gone so poorly, both from an on-field perspective and a PR one, that it’s hard to envision the club doubling down. If Montas doesn’t receive the QO, he will likely be fielding one-year offers slightly below the $20.5MM salary range.

Ineligible

As mentioned up top, players are only eligible to receive the qualifying offer if they haven’t received one previously and also spent the entire year with just one MLB club. Rodriguez and Stroman, who can each opt out of their respective contracts, have each been issued a QO earlier in their career. Flaherty, Giolito and Montgomery were all traded midseason, which makes them ineligible as well. Players coming from other leagues aren’t eligible either, so Yamamoto and Imanaga won’t have the QO in play. For each of these pitchers, the lack of a QO helps their earning power since clubs won’t have to forfeit any draft picks to sign them.

MLB Trade Rumors Podcast: Trade Deadline Recap

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The latest episode of the MLB Trade Rumors Podcast is now live on Spotify, Apple Podcasts, and wherever you get your podcasts! Make sure you subscribe as well! You can also use the player at this link to listen, if you don’t use Spotify or Apple for podcasts.

This week, host Darragh McDonald is joined by Steve Adams of MLB Trade Rumors to discuss the happenings of the recent trade deadline, including:

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