A source indicated to McAdam that Boston’s interest is more of the “due diligence” variety, and could simply be due to the fact that Cease’s trade market might not be fully closed until San Diego actually moves the right-hander elsewhere.  There is also no guarantee that Cease will be dealt whatsoever, as reports from earlier this week suggested that the Padres were more apt to keep both Cease and Michael King (another pending free agent) to keep their own rotation strong.

Speculatively speaking, moving Cease to the Red Sox wouldn’t necessarily create a hole in the Padres’ rotation, just because it would seem likely that the Sox would send a starter-capable pitcher back in return.  The Red Sox already have enough pitchers on hand that a six-man rotation isn’t out of the question, so this volume alone would suggest that at least one of those hurlers would be dealt to the Padres in exchange for Cease.

Crochet, Buehler, Brayan Bello, and Tanner Houck wouldn’t be doing anywhere, and Lucas Giolito’s salary and recent injury history would likely keep him off the Padres’ radar.  Beyond those pitchers, any of Kutter Crawford, Quinn Priester, or Richard Fitts could work as part of a trade package, fitting in nearer the back of San Diego’s rotation behind the top three of King, Yu Darvish, and former Red Sox righty Nick Pivetta.

It would take more than just a single young starter to pry Cease away from the Padres, of course.  As McAdam notes, the Red Sox would have to factor how much they’d be willing to give up for a rental pitcher like Cease, particularly when the club has already significantly dipped into its farm system to swing the Crochet trade.  Crochet was a different situation altogether, as he is arbitration-controlled for two seasons and is making only $3.8MM in 2025, plus the left-hander has already expressed some interest in signing a contract extension.  Cease is making $13.75MM in his final year before free agency, and like most Boras Corporation clients, is more likely to test the open market than explore an extension to remain with the Padres, Red Sox, or whatever team Cease might be playing for by season’s end.

The shorter-term benefit of adding Cease is obvious for a Red Sox club that seems intent on returning to contention.  Cease could slide right in as Boston’s No. 1 starter, bumping everyone down a step and lengthening the team’s rotation.  Since Alex Bregman could opt out of his new contract as early as next winter, the Sox might be viewing 2025 with particular “win now” urgency, and acquiring Cease would certainly help in quickly getting Boston back into the playoff race.

Salary-wise, the Red Sox are projected (as per RosterResource) for an approximate $241.6MM luxury tax number this season, putting the team just a touch over the $241MM tax threshold.  Bringing Cease’s salary on board would put the Sox more firmly into tax territory, which is perhaps notable since the traditionally high-spending Red Sox have crossed the tax line just once in the last five years.  Again, Boston’s renewed focus on contending might not make a one-year tax hit a big deal in the eyes of ownership, especially since even without adding Cease, it stands to reason the Sox will look to make some kind of in-season add at the deadline if the club is indeed competing for a postseason spot.

10:30am: Rumors have swirled all winter about the Padres trading a starting pitcher such as Dylan Cease or Michael King. Yesterday, they added to the rotation by agreeing to a deal with Nick Pivetta. They made another modest rotation add today by signing lefty Kyle Hart. It would be fair to wonder if those signings were precursors to a trade but Dennis Lin of The Athletic reports that the club is “inclined” to keep their starters and open the season with a rotation of Cease, King, Pivetta and Yu Darvish. That report came out before the Hart signing, though it seems unlikely that such a modest deal would impact the club’s plans for a headline-grabbing deal.

It’s a perfectly logical stance from a roster perspective. The rotation depth has appeared thin all winter. Joe Musgrove required Tommy John surgery in October, putting a big hole in the starting group. Cease, King and Darvish gave the club a decent three but the depth options all had question marks. Matt Waldron showed some potential in the first half of last year but had an 8.10 ERA in the second half. Guys like Randy Vásquez and Jhony Brito had some passable ERAs last year but with middling strikeout rates.

The only reason a trade of Cease or King was even considered was the club’s financial situation. They had spent aggressively for several years but then they hit a wall in 2023. Their TV deal collapsed, putting a dent in revenue. There were plans to scale back spending going into 2024, even before Peter Seidler died, which has led to an ongoing ownership squabble.

The financial squeeze led the Padres to trade Juan Soto and Trent Grisham last offseason for a five-player package. Losing Soto certainly wasn’t ideal but it saved some money and helped add some pitching depth. This winter, the thought was that a similar trade might be necessary, with names like Cease, King, Luis Arráez and Robert Suarez thrown around as possible candidates. None of those players are as talented or expensive as Soto but the theoretical plan would be similar, to trade one good but pricey impending free agent for several lesser but cheaper and controllable players to patch several roster holes.

Lin’s report now suggests that isn’t likely to come to fruition. He does leave the door open a little bit, suggesting the Friars could be bowled over by an offer from another club, but it seems holding this rotation core is the mostly likely outcome. Assuming the club doesn’t pivot to a trade, they will go into camp with a strong front four and with Hart jumping into a competition for a back-end role alongside Waldron, Vásquez and others. Stephen Kolek is also going to be stretched out to potentially give some extra depth.

Perhaps the club never got a trade offer that they found particularly compelling or perhaps they simply decided to creatively dance around the payroll situation. Trading a starter to improve rotation depth was always going to be a difficult task, so perhaps they thought it better to just address their holes on a budget. In left field, it seems that a platoon of Jason Heyward and Connor Joe is the move. They each got a $1MM guarantee plus bonuses, so the Friars only committed $2MM there.

Elias Díaz got a $3.5MM guarantee to join Luis Campusano behind the plate, but even that modest guarantee was backloaded. Díaz will get a $1.5MM guarantee and then a $2MM buyout on a $7MM mutual option. The buyout won’t be due until the end of the season, so it allows the Padres to avoid more than half of that guarantee in the short term.

The Pivetta deal is also significantly backloaded. Though he’s guaranteed $55MM on his four-year deal, he’ll only get $4MM this year, in the form of a $3MM signing bonus and $1MM salary. The remaining $51MM will be paid out with salaries of $19MM, $14MM and $18MM in the three following seasons, with Pivetta able to opt out after the second and third seasons. Even King’s $7.75MM salary to avoid arbitration helped the club in the short term. That money breaks down as a $3MM signing bonus, $1MM salary and then a $3.75MM buyout on a $15MM mutual option. Hart’s deal only guarantees him $1.5MM, with $500K of that being a club option buyout.

Because of those creative maneuvers and some other backloaded deals, the Friars have a big gap between their actual payroll and competitive balance tax number. The latter is calculated via the average annual value of contracts, so a guy like Pivetta will have a $13.75MM CBT hit this year, even though he’ll make far less than that in 2025.

RosterResource currently pegs the Friars for a $259MM CBT number but an actual payroll of just $207MM. That payroll is still a big spike from last year but perhaps it’s manageable enough that the club doesn’t have to pivot to trading Cease or King. The CBT number will lead to some taxes, but they will be modest.

The Padres reset their tax status by ducking under the line last year, meaning they would be “first-time” payors if they pay in 2025. That means their base tax rate is 20% on overages. With their current projection, that would lead to a tax bill of just $3.6MM. That’s also not calculated until the end of the season. If things go poorly during 2025, they could flip Cease, King or other players at the deadline, thus lowering their tax bill or ducking under the line completely.

They could also cut down this year’s payroll in the short term in other ways, with Lin suggesting a trade of Suarez is more likely than one involving Cease. Suarez is making $26MM over the next three years, broken down as $10MM this year and $8MM in the final two seasons of his deal. However, he can opt out of his contract after 2025, which will complicate trade talks.

It’s hard to agree on fair trade value when opt-outs are involved. For an acquiring team, they know they will only get one year of Suarez if he performs well. He would only stick around for 2026 and 2027 if he pitches poorly or is hurt. The limited upside and significant downside generally makes clubs unwilling to give up significant talent for such an arrangement.

For clubs still looking for a frontline starter like Cease, they don’t really have other options at this stage of the winter. The free agent market does still have some guys available, such as Andrew Heaney, Jose Quintana, Kyle Gibson, Jakob Junis and others, but they are more mid-rotation or back-end options. Guys like Marcus Stroman and Jordan Montgomery are likely available in trade but they’re also mid-rotation guys at best and coming off difficult seasons.

Teams such as the Mets, Twins, Cubs and Orioles have been connected to Cease but they haven’t been able to get him thus far. Other clubs would be sensible fits. Unless they bowl over the Padres or the Friars are just posturing for leverage, those clubs might have to be patient. They could consider some of the aforementioned mid-rotation options or wait to see if the deadline offers the big rotation upgrade they seek.

Padres president of baseball operations A.J. Preller is said to be looking for “significant major-league value” in exchange for Cease, and it is only natural that Preller would aim high when discussing perhaps his top trade chip.  Landing Westburg would have filled San Diego’s second base position for years to come, Mayo could’ve become the Padres’ first baseman of the future and very likely a contributor in 2025, and Basallo projects as a keeper at either first base or catcher.  San Diego already has one of the sport’s top catching prospects in Ethan Salas, but further adding to the future depth chart would’ve given the Padres an embarrassment of riches at a notoriously difficult position to fill.

For many of these same reasons, the Orioles obviously have no interest in dealing any of this trio.  As Kubatko notes, it is particularly unlikely that Baltimore (or perhaps any other team) would trade away premium controllable talent for Cease, who is slated to enter free agency next winter.

It should be noted that the Orioles did swing a big trade for a rental pitcher just over a year ago, when the O’s moved Joey Ortiz, DL Hall, and the 34th overall pick in the 2024 draft (Baltimore’s Competitive Balance Round selection) to the Brewers in exchange for Corbin Burnes.  That trade package has been suggested by many as a possible comp for what the Padres might realistically hope to land in a Cease deal, though the fact that the Orioles already depleted their minor league depth for Burnes might make them unlikely to make another splurge for a pitcher with one year of control.

The Twins, Mets, Cubs, and Red Sox are among the teams who have also been linked to Cease’s trade market at various points this winter, though reports have suggested that Minnesota and New York are unable or unwilling to meet the Padres’ demands.  The Red Sox already dealt away some noteworthy young talent to obtain Garrett Crochet from the White Sox, and might not want to move even more players to also add Cease.

With several weeks to go before Opening Day, it is certainly still possible any of these teams or the Orioles could re-emerge as possible trade partners, should the Padres lower their asking price.  On the flip side, pitching injuries in Spring Training might well bring some new teams into the mix, perhaps with some increased desperation that would make them more willing to cough up a bigger trade package that would come closer to meeting San Diego’s needs.

Since Burnes was entering free agency and ultimately headed to the Diamondbacks, an ace pitcher was widely seen as perhaps the top need on Baltimore’s offseason checklist.  While the O’s were known to have at least had some talks about some top free agents or trade targets, the club instead made more moderate pitching adds, signing Tomoyuki Sugano and Charlie Morton to one-year contracts.  Sugano and Morton join Grayson Rodriguez, Zach Eflin, and Dean Kremer as the Orioles’ projected starting five, with Albert Suarez working as a swingman in the bullpen, and the likes of Cade Povich, Trevor Rogers, and Chayce McDermott at Triple-A as further depth options.

With Kyle Bradish and Tyler Wells also hoping to make late-season returns from UCL surgeries last season, the Orioles might end up having a surplus of rotation options if everyone is healthy.  In theory, it would make sense if the O’s offered one of the younger big league-ready arms as part of a Cease trade, as the Padres could then use that pitcher to take Cease’s spot in their own rotation.  But, with Eflin, Morton, and Sugano all free agents next winter, Baltimore surely hopes to dip into its depth to reload what might be a very different-looking rotation in 2026.

The Padres have entertained offers on the majority of their impending free agents under similar lines of thinking. Cease, Michael King, Luis Arraez and Robert Suarez (opt-out) have all seen their names pop up on the rumor circuit this winter. Cease probably has the most trade value of them all, given his track record, durability, reasonable $13.75MM salary, high-octane arsenal and the potential for an acquiring club to not only add a Game 1 or Game 2 playoff starter to its roster but also to potentially recoup a draft pick in 2026 if/when Cease rejects a qualifying offer in November.

A Cease trade at this juncture would in many ways run parallel to last offseason’s trade of Juan Soto, whom the Padres shipped out for immediate MLB help (King, Kyle Higashioka) and slate of MLB-ready (or close to it) arms: Randy Vasquez, Jhony Brito and top prospect Drew Thorpe. The Padres moved Thorpe before the season even began, using him as the headline prospect to acquire Cease in the first place. Now, they could conceivably trade Cease for a lower-ceiling/less-established rotation arm and some additional pitching depth and/or a young outfielder.

Exact parallels for a Cease swap are hard to come by, though Anthony Franco recently took a look at some general frameworks that the Padres could seek in a piece for Trade Rumors Front Office subscribers. Corbin Burnes, who went from the Brewers to the Orioles in exchange for MLB-ready help in the infield (Joey Ortiz) and on the pitching staff (DL Hall) — plus a competitive balance draft pick — is the clearest comparable in recent memory. Burnes was more consistent but also a bit more expensive ($15.637MM to Cease’s $13.75MM).

It’s feasible to think the Padres could command a big league-ready arm and outfielder to fill two holes on their roster while simultaneously freeing up some cash to backfill some of the innings lost in a Cease trade. Any deal shipping him out will bring back a lesser arm(s), and whatever savings the Padres secure could be used to further address the back of the rotation. San Diego probably isn’t going to give up the picks necessary to sign Nick Pivetta, but the free-agent market still has Andrew Heaney, Kyle Gibson, Cal Quantrill, Spencer Turnbull, Ross Stripling and Alex Wood, among others.

Alternatively, any money saved via trading Cease could be put toward taking on a chunk of a pricey starter’s contract. Marcus Stroman, Jordan Montgomery and Steven Matz are all buy-low candidates but all could probably be had with the current team picking up some of the bill.

Let’s take a look at some of the best fits for Cease based on a variety of factors including team need, payroll availability, luxury tax status and what type of young/inexpensive pitching and outfield help said theoretical trade partners could offer…

Orioles: The Orioles have made several additions to the rotation this winter, but they’re generally lacking ceiling. Charlie Morton and Tomoyuki Sugano would’ve been a higher-end pair to sign back in 2019 than in 2025. They could both still provide some average or even slightly better-than-average innings in bulk, but it’d be a surprise if either looked like a clear playoff-caliber starter at season’s end. Baltimore’s current rotation includes that pair, Zach Eflin, Grayson Rodriguez and Dean Kremer. It’s a solid enough quintet on paper, and they could get late-season help from Kyle Bradish and/or Tyler Wells as that pair mends from a UCL surgeries performed last June.

Baltimore hasn’t replaced Burnes, who signed a six-year deal in Arizona, with an arm of comparable quality. Cease would be just that. Between Kremer, Cade Povich, Trevor Rogers and Chayce McDermott, the O’s have a collection of inexpensive arms who could step into the back half of San Diego’s rotation. The prize for the Padres in a trade with Baltimore would probably be the bat acquired. The Orioles aren’t giving up Coby Mayo or Jackson Holliday for one year of a starter, but Heston Kjerstad once again looks like he’s a man without a clear path to playing time. The O’s could’ve penciled him in to replace Anthony Santander, but they instead signed Tyler O’Neill. Kjerstad turns 26 this month, has nearly a year of MLB service and hasn’t been given a full-time look. The O’s have touted outfielders like Enrique Bradfield Jr. and Dylan Beavers on the rise behind him, plus Colton Cowser already in the majors.

Red Sox: Boston hasn’t made the big free-agent splash that many expected, but it’s hard to say that any team that acquired Garrett Crochet hasn’t invested in bolstering the rotation. Crochet joins Tanner Houck, Brayan Bello, Kutter Crawford, free agent signee Walker Buehler and (eventually) a returning Lucas Giolito in a deep and talented Red Sox rotation mix. You could argue the Sox don’t need to further augment the group, but Buehler is a rebound candidate and Giolito could be on some kind of set workload. Even if that’s not the case, a September (and hopefully for Craig Breslow & Co., October) rotation scene including Crochet, Cease, Giolito, Houck and Buehler could be overpowering.

Crawford wilted considerably down the stretch, but he has four years of control remaining and is earning just $2.75MM this season. Depth arms like Quinn Priester, Richard Fitts and Cooper Criswell could all hold appeal to the Padres as well. None of that group has reached arbitration. Criswell is controlled for five more years. Priester and Fitts can be controlled for six. The Sox aren’t giving up Jarren Duran or Ceddanne Rafaela for a year of Cease, but would they consider selling high on Wilyer Abreu? They could turn to an outfield stopgap like Randal Grichuk or Mark Canha to give them a right-handed bat while leaving the door open for uber prospect Roman Anthony to seize a regular job sooner than later.

Twins: The Twins’ interest in Cease is a head-scratcher at first glance, if only because Minnesota is in a similar payroll crunch to the Padres. However, as the offseason has gone on, it’s been reported that Minnesota might not actually need to cut payroll and might even have a couple million to spend. The Twins could shed some money in other trades, perhaps shipping out Chris Paddack ($7.5MM), some of Christian Vazquez’s contract (one year, $10MM remaining) and/or utilityman Willi Castro ($6.4MM). A trade with the Padres could also send a bit of money to San Diego, depending on which pitcher(s) and/or outfielders are included.

The Twins have Pablo Lopez, Joe Ryan, Bailey Ober, Simeon Woods Richardson and Paddack in the rotation at present, with top prospects David Festa and Zebby Matthews already having made their major league debuts. Other arms like Andrew Morris and Travis Adams aren’t terribly far from getting a look. The Athletic’s Dan Hayes recently suggested that the Padres would probably want Ryan or Ober to headline a deal. Ryan seems like a bridge too far for the Twins. Ober is earning $3.35MM this season and has three years of club control remaining. Any of Woods Richardson, Festa and/or Matthews is pre-arbitration. The Twins have young outfielders like Trevor Larnach and Matt Wallner to pitch. Larnach is making $2.1MM. Trading one of Larnach or Wallner could open a clearer path for top prospects Emmanuel Rodriguez or Luke Keaschall to step into the big leagues. Keaschall has played more infield, but the Twins’ infield is already quite crowded, so his eventual home could be in the outfield or in a multi-position role.

Braves: With Spencer Strider on the mend from UCL surgery and expected back sometime in May, the Braves don’t necessarily have a glaring rotation need. Chris Sale, Reynaldo Lopez, Strider and Spencer Schwellenbach will create a formidable top four — health permitting. Righties Ian Anderson, Grant Holmes, Bryce Elder, AJ Smith-Shawver and Hurston Waldrep are in the mix for starts while Strider is out and give Atlanta ample depth for the fifth spot in the rotation should each of the top four be healthy early in the summer. Drue Hackenberg, a 2023 second-rounder, climbed three minor league levels and posted sharp results across the board in 2024, providing even more depth.

That glut of arms for what ostensibly appears to be one final rotation spot gives Atlanta plenty of options on the trade market. If the Padres want to acquire multiple lower-end but MLB-ready arms in exchange for Cease, the Braves are a potentially prime trade partner. President of baseball operations Alex Anthopoulos has implied that any rotation addition would need to be a clear upgrade over Anderson and Holmes, who are out of minor league options and thus virtual locks to make the roster. Cease checks that box emphatically. And with Jurickson Profar now in the outfield, Atlanta could at least consider the possibility of including Jarred Kelenic in a deal as well. Kelenic’s value is way down after a middling 2024 season, but he has four seasons of club control remaining and — once Ronald Acuña Jr. is healthy — minimal path to everyday at-bats on a roster with Profar, Acuña and Michael Harris II.

Cubs: As with the Braves, the Cubs have a deep collection of arms competing for what looks to be one rotation spot. Justin Steele, Shota Imanaga, Jameson Taillon and Matthew Boyd are all rotation locks. Candidates for the fifth spot include Javier Assad, Jordan Wicks and Ben Brown — with top prospect Cade Horton on the rise as well. Assad is probably the favorite thanks to a 3.40 ERA through his first 294 big league frames, but below-average command and a subpar strikeout rate lead to less-appealing marks from alternative metrics like FIP (4.49) and SIERA (4.66). The Cubs also signed veteran Colin Rea on a one-year deal, giving them a seasoned No. 5 option or swingman in the bullpen.

On top of the plethora of young arms, the Cubs have two top-100 outfield prospects in Owen Caissie (an original Padres draftee who went to the Cubs in the Yu Darvish trade) and Kevin Alcantara. Both are essentially MLB-ready. Alcantara has already debuted. Chicago has Ian Happ, Pete Crow-Armstrong and Kyle Tucker in the outfield with Seiya Suzuki at designated hitter. There’s no path to 2025 playing time for Caissie or Alcantara if the current outfield is healthy. Plus, Happ and Suzuki are signed through 2026 while Crow-Armstrong is controlled all the way through 2030. Dealing from their stock of outfield talent to further cement themselves as the NL Central favorite and add a clear playoff starter makes good sense. The Cubs already made a big one-year bet on Tucker. That ought to embolden them to further push all-in on 2025. At the very least, they could expect 2026 draft compensation for Tucker and Cease, lessening the sting of some of the prospects they surrender.

Mets: President of baseball operations David Stearns doesn’t seem to want to commit long-term to starting pitchers, making Cease a natural target. He’d immediately ascend to the top of the rotation in Queens, giving the Mets the clear Game 1 type of starter they presently lack. Cease, Kodai Senga and Sean Manaea would make a nice top three, with Frankie Montas, Clay Holmes, David Peterson and Paul Blackburn as options to round out the staff … unless, of course, Peterson is one of the names headed back to the Padres in a theoretical trade package. Like Cease and Michael King last year, he has two seasons of club control remaining. He’d give the Friars an experienced arm to take up some of Cease’s innings, and the Mets have plenty of additional names to offer on top of that.

Tylor Megill doesn’t look to have a clear spot on the roster, barring injuries. He looks like more of a depth piece but could add some innings to the San Diego rotation. Top pitching prospect Brandon Sproat is the type of near-MLB arm who could serve as a headliner. The Mets also have appealing young hitters like Brett Baty, Ronny Mauricio and Luisangel Acuña. All three are infielders, but they’ve all at least tinkered in the outfield as well. All three have the athleticism to handle left field. Mauricio is recovering from an ACL tear and might not be ready for Opening Day, while Acuña struggled in the minors last year and could need more seasoning. Regardless, they could be early-season options, while someone like Baty might be an option to step right into left field if the Padres feel a spring training of work there could ready him for a full-time look in the majors.

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There are, of course, other clubs that have rotation needs and would surely inquire. The Angels seem like an obvious fit but don’t necessarily have the collection of young arms and/or outfielders that the above teams possess. Jo Adell already has three years of MLB service and has yet to establish himself. Taylor Ward is only controlled through 2026 and is making nearly $8MM. The Angels need controllable young arms just as badly as the Padres.

The Blue Jays make some sense, as a team aggressively pursuing 2025 upgrades, but they’ve made those upgrades without sacrificing much in the way of prospects — perhaps in a nod to a potential Plan B if this year’s run at contention doesn’t pan out.

The Rangers, Brewers and Guardians could all make varying degrees of sense, but all three are running up against payroll issues at this point. Texas could try to send Jon Gray and/or Leody Taveras back to San Diego, but they’d need to include significant prospects to offset that pair’s lack of long-term value. The Brewers haven’t signed a free agent to a fully guaranteed deal and seemingly have no money to spend. The Guards haven’t rented a veteran starter like this at any point in recent memory and may be tapped out after re-signing Shane Bieber, Austin Hedges and Carlos Santana and signing Paul Sewald. Perhaps the Tigers could try to package some younger arms (e.g. Casey Mize, Matt Manning, Keider Montero, Ty Madden) and a young hitter like Justyn-Henry Malloy, but their recent addition of Jack Flaherty seems like their final move in the rotation.

Broadly, it’s pretty easy to make a case for Cease on quite a few teams. He’s a Cy Young-caliber arm at his best and is being paid less than the collection of aging veteran arms who signed one-year deals worth $15-16MM this winter (Justin Verlander, Max Scherzer, Charlie Morton, Alex Cobb). The best fits, at least from our vantage point, appear to reside in Baltimore, Boston, Atlanta, Minneapolis, Chicago (Cubs) and New York (Mets), however.

“You just focus on the task at hand,” Cease said, as relayed by Cassavell. “It’s just part of the business, really.”

Cease went on to note how much he loves San Diego and added that he would “definitely” like to stay in town. It certainly remains possible that he’ll be a Padre in 2025 even if it’s difficult to imagine him returning to San Diego upon hitting free agency this offseason. As Cassavell notes, however, a trade might be the most sensible path for the Padres as they navigate a budget crunch with multiple significant holes in their projected 2025 lineup. It wouldn’t be a shock to see Cease bring back the sort of significant return that could address multiple needs for the Padres while also getting his $13.75MM salary off the books to clear the way for further additions.

With that being said, getting the right deal for Cease may be easier said than done. The Cubs, Twins, and Mets are among the teams that have been connected to Cease in recent days, but there have been some indications from both Minnesota and New York that a trade could be difficult to work out. Dan Hayes of The Athletic reported earlier this weekend that the Padres are asking for “significant major-league value” in Cease talks, adding that rival executives believe the club is “emboldened” by the exceptional return they received from the Yankees in last winter’s Juan Soto deal. Meanwhile, Hayes reports that the Twins are unwilling to part with top prospects like Walker Jenkins, Emmanuel Rodriguez, and Luke Keaschall at this time and prefer to offer a package of big leaguers who can help address San Diego’s needs in the lineup and rotation.

That might sound like the teams match up well at first glance, but Hayes adds that the specifics of the return package figure to be a sitcking point. He suggests that the Padres are likely to ask for one of Joe Ryan or Bailey Ober as the centerpiece of a deal, which is an ask that it’s hard to imagine Minnesota agreeing to given that both are established, quality mid-rotation arms with three years of team control remaining. Hayes notes that the Twins would prefer to offer a package headlined by a young starter like Zebby Matthews or Simeon Woods Richardson that would also include Trevor Larnach and Willi Castro. Woods Richardson posted solid back-of-the-rotation production for the Twins in his rookie season last year, with a 4.17 ERA in 28 starts, while Matthews struggled in nine starts at the big league level but remains the club’s top pitching prospect and is generally believed to project as a #4 starter in the majors long-term.

The value discrepancy between players of Ryan and Ober’s caliber and the likes of Matthews and Woods Richardson is significant, and the sides would need to move significant off their current stances in order for a deal to come together. It appears to be a similar story with the Mets, as Will Sammon of The Athletic recently described Cease coming to Queens as “unlikely” due to the expected acquisition cost. Whether that’s due to a lack of willingness to part with a high-end package in order to land Cease or if the club simply lacks the pieces necessary to get a deal done is unclear, however, as Sammon goes on to mention the club’s failed pursuit of Garrett Crochet earlier this winter. The Mets were among a number of teams interested in Crochet, but he ultimately was dealt to the Red Sox because, as Sammon writes, Boston was able to offer “higher-quality prospects” than the Mets were.

Sammon goes on to suggests that the Mets could swing a deal if the Padres’ asking price comes down through the spring or revisit talks at the trade deadline, when Cease would be less valuable due to an acquiring club no longer being able to extend him the Qualifying Offer. Of course, a Cease trade may be far less likely by the time the summer rolls around. The Padres will have to fill their vacancies in the lineup one way or another before the season begins, and if they manage to do so without dealing Cease it’s difficult to imagine the club then shifting gears and shipping Cease out in the middle of a pennant race unless they’ve fallen out of contention.

That there apparently has not yet been a conversation between the two camps about a long-term deal is an interesting development given previous reports that the club believes King to be more amenable to the possibility of an extension than fellow walk year righty Dylan Cease. Those rumors have led to a belief throughout the offseason that San Diego would prefer to deal Cease rather than King if they end up trading one of their two front-of-the-rotation arms amid their pursuit of pitching depth and lineup upgrades. That appears to still be the case, as Kevin Acee of the San Diego Union-Tribune reports that the club is “not actively shopping” King in the aftermath of the sides reaching an arbitration agreement. Acee is quick to note that the new contract doesn’t necessarily preclude a trade from occurring, but it appears clearer than ever that the Padres’ preference is for the departing pitcher to be Cease if they wind up dealing one of their top arms.

As for King, the righty spoke to reporters (including Sanders) about the swirling trade rumors today, saying that he would be “shocked” if he were to be traded before adding that hearing your name in the rumor mill is “part of the business.”

“Obviously anything can happen,” King said, as relayed by Sanders. “I didn’t think I was going to get traded over here that offseason last year. Anything can happen.”

While it’s unclear whether King’s confidence that he’ll be in a Padres uniform on Opening Day and the club’s apparent preference for dealing Cease if one of the pair is traded will actually lead to King remaining in San Diego, it should be noted that the sides not yet having discussed an extension does not preclude them from doing so in the coming weeks. Extension negotiations between players and clubs frequently open after the start of Spring Training, and the Padres have been among the most prolific clubs in the sport when it comes to springtime extensions in recent years.

It was just two years ago that San Diego signed Jake Cronenworth, Manny Machado, and Yu Darvish to a trio of lengthy extensions over the course of Spring Training 2023, and two years before that the club famously agreed to a massive $340MM contract with Fernando Tatis Jr. during Spring Training 2021. They’ve at least explored extensions with other players during the spring in recent years as well, such as Jackson Merrill last winter. Whether King will join the list of Padres player to put pen to paper on extensions just before reaching free agency remains to be seen, but even with no talks between the sides to this point the possibility of some discussions between the sides this spring can’t be ruled out.

Aside from San Diego’s hefty payroll commitments that have limited their flexibility in recent years, one potential obstacle for any King extension would surely be his unusual history. The right-hander posted an excellent season in 2024 with a 2.95 ERA in 173 2/3 innings of work, but that was his first season pitching as a full-time starting pitcher since 2018, during his age-23 season in the minor leagues. While King’s 39 starts since being put back in the rotation by the Yankees down the stretch last year have been electric, his ability to keep up with a 150+ inning workload for a second consecutive season will surely have a major impact on his value in free agency. Given the importance of his platform season, it wouldn’t be a shock if the sides struggled to reach an agreement on what fair value looks like even if they do engage in extension talks at some point before Opening Day.

Cease is one of the biggest names to watch over the next six weeks. San Diego has fielded interest in virtually all of their highly-priced players who could test free agency next offseason (e.g. Cease, Luis Arraez, Michael King, Robert Suarez). Every contender could be involved on Cease, who is coming off a fourth-place finish in NL Cy Young balloting.

If he does move, it’d be the second straight winter in which Cease is dealt late in the offseason. The Padres acquired him from the White Sox midway through Spring Training last year. His first season with the Friars was excellent. He worked to a 3.47 ERA while striking out 224 batters over 189 1/3 innings. Cease has not missed a start since 2019. He has topped 200 strikeouts in four straight seasons and has two top five Cy Young finishes in the past three years.

San Diego has had a quiet winter as they navigate payroll restrictions and squabbling amongst their ownership group. The Padres only have three pitchers who’d be locked into their season-opening rotation: Cease, King and Yu Darvish. Trading either Cease or King would subtract from the rotation’s ceiling, but it stands to reason they’d demand at least one cheaper MLB-ready starting pitcher as part of the return. San Diego also needs to find a new left fielder after letting Jurickson Profar walk in free agency.

Last year’s Corbin Burnes trade serves as a template for what the Friars could demand for Cease. The Brewers netted two MLB-ready players who’d been borderline top 100 prospects (Joey Ortiz and DL Hall), plus the 34th overall pick in the 2024 draft, from the Orioles. Cease is slated for a $13.75MM salary in his final year of arbitration. While the Padres do not expect to work out a long-term deal with the Boras Corporation client, they’re trying to balance their long-term outlook against the goal of returning to the postseason this year.

Heyman suggests that the Padres could subsequently look to sign Jack Flaherty or Nick Pivetta if they deal Cease or King. That’d require an unexpected willingness to stretch the budget. Even if they look to short-term deals, Flaherty and Pivetta should each beat $13.75MM annually. Pivetta would also require draft pick forfeiture after declining a qualifying offer. That series of events would raise payroll and still leave San Diego with a hole in left field unless they address that via the hypothetical Cease trade.

The Mets have been reluctant to make long-term pitching investments under president of baseball operations David Stearns. They’ve addressed the rotation with a series of shorter-term moves. They brought back Sean Manaea for three years and (a partially deferred) $75MM, added reliever conversion pickup Clay Holmes on a three-year deal, and taken a two-year flier on Frankie Montas. That trio joins Kodai Senga and David Peterson in their projected starting five. Paul Blackburn, Tylor Megill and Griffin Canning are depth options. It’s not a bad group but lacks a true ace, especially if Senga’s workload is limited after he barely pitched in 2024.

Cease, 29, has been bandied about the rumor mill for much of the winter as a payroll-crunched Padres club struggles to find ways to address myriad roster holes. A free agent following the 2025 season, Cease is slated to earn $13.75MM this year. Trading him for a controllable, lower-cost outfielder could affordably plug one lineup hole while also freeing up more than $13MM to backfill the rotation. Alternatively, the Friars could build a Cease deal around controllable, low-cost (and also less-proven) rotation pieces and look to reallocate Cease’s salary to a bat that’s yet to find a home in free agency or a trade target in the outfield. The Padres have at least gauged interest in impending free agents like Michael King, Luis Arraez and Robert Suarez (signed through 2027 but with an opt-out next offseason) under similar rationale.

The Cubs already have a deep rotation featuring Justin Steele, Shota Imanaga, Jameson Taillon, Matthew Boyd and Javier Assad. Free agent signee Colin Rea gives them a veteran sixth option, and Chicago has younger names like Jordan Wicks, Ben Brown and Caleb Kilian on the 40-man roster, with prospects Cade Horton and Brandon Birdsell climbing the minor league ladder.

Given that stock of arms, the Cubs don’t necessarily need another starting pitcher, but there’s an argument that some of that depth and their impressive stock of high-end position prospects could be condensed into a front-of-the-rotation arm like Cease. Morosi highlighted top outfield prospect Owen Caissie as a potential piece of a Cease trade in an on-air segment this morning, albeit in fairly speculative fashion.

Coupling Caissie or another touted outfielder like Kevin Alcantara with a controllable arm that lacks Cease’s ceiling but could be a third or fourth starter (e.g. Wicks, Assad) could hold some appeal to a Padres club that lacks rotation depth, a clear left fielder or designated hitter, and has a shaky-at-best collection of options to fill out manager Mike Shildt’s bench. Anecdotally, a trade involving Cease and Caissie would send each player back to their original organization; Cease was a sixth-round pick of the Cubs who was traded to the White Sox in exchange for Jose Quintana, while Caissie was a Padres second-rounder who went to the Cubs as part of the Yu Darvish trade.

Outfield is an area of depth for the Cubs, who have Ian Happ in left field, young Pete Crow-Armstrong in center and trade acquisition Kyle Tucker in right field. The acquisition of Tucker has pushed slugger Seiya Suzuki into a primary DH role, though he’ll surely still see some corner time depending on injuries or off-days for other members of the outfield. Tucker is a free agent at season’s end, but Happ and Suzuki are both signed through 2026 while Crow-Armstrong can be controlled all the way through 2030. Both Caissie and Alcantara are generally viewed as MLB-ready pieces who could step into the majors as soon as this season after posting big seasons in the upper minors in 2024. (Alcantara made a brief MLB debut late in ’24 already.) Infielder and fellow top prospect James Triantos also got a bit of work in the outfield in 2024. He’s on the cusp of his MLB debut as well.

The circumstances surrounding a potential trade of Cease are fairly similar to those of Corbin Burnes one year ago. While Cease has had a bit more volatility in terms of year-over-year results and doesn’t have a Cy Young Award to his credit, he’s a top-end starter with a relatively reasonable salary and one season of club control remaining. He’s unlikely to sign an extension, as was the case with Burnes, but could net a new team a draft pick if and when he rejects a qualifying offer next winter. That holds some inherent value and helps to offset the prospect loss required to pry Cease loose in a trade. The Orioles sent two MLB-ready players who’d garnered top-100 fanfare — infielder Joey Ortiz and lefty DL Hall — to the Brewers along with a 2024 competitive balance draft pick (No. 34 overall).

That was a steep price to pay, and perhaps Cease’s value isn’t quite to that same level, but it shouldn’t be far off. At the very least, it provides a rough blueprint for what San Diego could reasonably seek in exchange for a power-armed 29-year-old who landed second in 2022 American League Cy Young voting.

Payroll-wise, the Cubs have more than enough space to add Cease’s salary while still remaining comfortably south of the $241MM luxury threshold and leaving space for in-season acquisitions. RosterResource projects Chicago at a bit more than $207MM in luxury obligations after their recent acquisition of Ryan Pressly, giving them about $34MM of cushion between their current standing and that tax barrier.

Trading a front-line starter like Cease or King might seem counterproductive for a club that’s already lacking in rotation depth, but it’s possible that the trade return for either player could involve a young starter or two while allowing the Padres to reallocate the freed up payroll space to the lineup. It’s surely under that logic that San Diego has explored Cease’s market and discussed King with rival clubs as well. The Padres have reportedly been more resistant to trading King under the belief that he’s more likely than Cease to sign an extension, but president of baseball operations A.J. Preller is generally open-minded when it comes to trade discussions. That the two sides face a nearly $1.5MM gap after exchanging salary figures and appear headed toward an arbitration hearing only adds an additional layer of complexity.

Cease, 29, is the bigger name of the two righties. A longtime top prospect with the Cubs and White Sox, the right-hander debuted on the south side back in 2019 and had developed into a legitimate front-end arm by 2021. Over the past four seasons, he’s pitched to a 3.52 ERA (120 ERA+) with a 3.32 FIP and an excellent 29.7% strikeout rate. Perhaps even more impressive than Cease’s strong rate numbers is his volume. The right-hander has been a workhorse by the standards of the modern game with 716 innings of work across 130 starts since the start of 2021. That’s the most starts and seventh-highest innings count of any starter in that time.

By contrast, King doesn’t offer the same level of star power or track record. The 2024 campaign was actually the first time King has acted as a full-time starter in the majors, and his 173 2/3 innings of work were not only a career high but the first time he had thrown even 105 innings since 2018. The results can’t be denied, however, and King was nothing short of excellent. He posted a 2.95 ERA (139 ERA+) with a 3.33 FIP. His peripherals are quite similar to Cease, as well; his 27.7% strikeout rate was a touch lower than Cease’s 29.4% figure, but his 8.7% walk rate was nearly identical to Cease’s 8.5%. King’s 6.2% barrel rate was far better than that of Cease.

Given that similar production and a price tag that’ll be $5-7MM less than that of Cease, it’s easy to imagine some clubs preferring King between the two. If King can fetch what the Padres deem to be a better return, moving the more affordable arm and keeping the more proven/durable righty makes some sense. On the other hand, King still seems likelier to sign an extension than the Boras Corp-represented Cease, and Cease has shown some year-to-year volatility. He posted a below-average ERA as recently as 2023.

If you were in Preller’s shoes and needed to free up some payroll space to address various holes on the roster, how would you proceed with your coveted rotation duo? Have your say in the poll below:

That’s not to suggest that a one-for-one swap of Vázquez for Cease is at all feasible. Vázquez is going to make $10MM this year, making him a bit overpaid as a part-time, glove-first catcher. Cease, on the other hand, is an excellent starting pitcher who is going to make $13.75MM this  year. That gives him tremendous surplus value.

That the Twins would be interested in Cease is not surprising as just about any club would be, since he’s been one of the best pitchers in baseball over the past four years. From 2021 to 2024, he has made at least 32 starts in each of those seasons. His 716 innings thrown in that time is seventh in the majors behind only Aaron Nola, Logan Webb, Zack Wheeler, Corbin Burnes, José Berríos and Kevin Gausman.

That quantity has also come with quality, as Cease has allowed 3.52 earned runs per nine while striking out 29.7% of batters faced. His 9.7% walk rate was on the high side but not by much. His 17.2 wins above replacement in that time is sixth in the majors, behind the five the aforementioned pitchers but ahead of Berríos.

The best free agent pitchers generally get over $30MM annually, with Blake Snell and Corbin Burnes both getting over that line this year. Even older pitchers coming off injury-marred seasons like Alex Cobb and Justin Verlander will outearn Cease this year, with each getting a $15MM salary for 2025.

All those factors make him very valuable to the Padres but they might be boxed into a corner where they have to consider making him available. RosterResource projects them for a $208MM payroll this year, which is well beyond last year’s $169MM figure. They can reportedly push a little higher than their 2024 number but not by too much, so cutting some decent money seems to be necessary. They will have to do that while also filling holes in left field and behind the plate, as well as the rotation.

There aren’t many great options for clearing money. Manny Machado, Xander Bogaerts, Yu Darvish, Fernando Tatis Jr. and Joe Musgrove all have no-trade clauses on their contracts. Jake Cronenworth only has an eight-team no-trade clause but his deal is tough to move regardless since his production dropped off after he signed that deal and there is still $71MM to be paid out over the next six years. Robert Suarez only has three years left on his deal but the opt-out/player option a year from now complicates trade talks.

All that leaves Luis Arráez and Cease as the best trade options. Each is going into his final arbitration season and set to make an eight-figure salary. However, Arráez may not have tremendous trade value, despite his elite batting averages. He’s not a good defender, baserunner or power threat, limiting his overall production.

It all leaves the Padres and president of baseball operations A.J. Preller with a tricky tightrope to walk. Cease is probably their best option for doing a trade somewhat resembling the Juan Soto deal from last offseason. In that deal, the Padres took one great player and his notable salary, trading him and Trent Grisham to the Yankees for a five-player package. One of those players was Michael King, who bolstered their rotation. Another was prospect Drew Thorpe, whom the Padres used to get Cease. The additions of Kyle Higashioka, Randy Vásquez and Jhony Brito also bolstered the catching and pitching depth.

Flipping Cease to help in several areas might be the best option for the Friars now but it would also likely weaken the rotation that already looks like a soft spot. With Musgrove set to miss the season recovering from Tommy John surgery, the rotation currently consists of King, Cease, Darvish and question marks. Guys like Vásquez, Brito, Matt Waldron and Adrián Morejón are potential back-end guys but it’s not a strong overall group. That would be even more true without Cease.

The Twins have their own financial concerns but could perhaps make it work with Cease. Recent reporting has suggested that the Twins don’t really need to cut payroll but don’t have much room to add at the moment either. Trading part of the $10MM owed to Vázquez would help, as could moving the $7.5MM owed to Chris Paddack or the $6.4MM for Willi Castro.

The Twins currently project to have a rotation consisting of Pablo López, Joe Ryan, Bailey Ober, Simeon Woods Richardson and Paddack. Swapping in Cease for Paddack would obviously be an upgrade, considering Paddack hasn’t pitched much over the past few years due to elbow issues, including Tommy John surgery, and has had middling results when on the hill.

The Twins also have some young and affordable pitching that would surely interest the Padres. Pitchers like Zebby Matthews and David Festa debuted in 2024 without much success but both were notable prospects last year and could still have plenty of success ahead of them. The fact that each still has six years of cheap control available would be great for the Padres, but the Twins would have to think about whether that’s a fair price for just one year of a pitcher like Cease. The Twins also have arms like Marco Raya, Travis Adams and C.J. Culpepper in their depth mix.

As recently explored by MLBTR’s Anthony Franco, the Padres might look to last winter’s Burnes trade as a decent comparable for Cease. The Brewers flipped one year of Burnes for two notable prospects in DL Hall and Joey Ortiz. Both were top 100-type prospects that had cracked the majors but hadn’t been established yet.

That is perhaps the kind of return that could work for the Padres. Subtracting Cease for pitchers like Matthews/Festa would lower their rotation certainty but give them more options at cheaper prices. The Twins may not be keen on such an arrangement, however, as the report from The Athletic indicates that they “would prefer to provide a value-laden package to replenish the Padres’ depth as opposed to the higher-upside talent Preller likes to hunt.”

Though Preller has been exceptionally quiet this winter, it’s possible that it’s time for him to pounce. The Padres were one of the finalists for Roki Sasaki and he would have been a massive help for their current predicament. As a plug-and-play ace who will be making the minimum salary this year, he would have been a great fit for the club both in terms of roster construction and their financial situation.

Perhaps Preller was waiting for clarity on that massive decision from Sasaki. Now that the young righty has officially signed with the Dodgers, Preller has to pivot to other options. Given his constraints, a Cease trade might have to be on his to-do list. If so, the Twins are surely not the only club interested, so Preller should be fielding plenty of calls.

Vázquez is both a logical trade candidate for Minnesota and an obvious fit for San Diego. Twins president of baseball operations Derek Falvey said last week that the team’s trade talks had started to pick up steam. While Falvey didn’t identify specific players under discussion, Vázquez is arguably the most obvious candidate. He’s entering the final season of a three-year free agent deal. He has split time with Ryan Jeffers over his two years in the Twin Cities.

Over the past two seasons, Jeffers carries a .246/.328/.456 batting line in exactly 800 trips to the plate. Vázquez has hit .222/.265/.322 through 670 plate appearances. Manager Rocco Baldelli nevertheless stuck to the even divide in playing time last year. Each player made 81 starts. Jeffers caught 720 1/3 innings, while Vázquez logged 719 frames.

Jeffers clearly brings a much higher offensive ceiling. Vázquez is the superior defender. While Jeffers receives subpar grades for his receiving skills, Vázquez has long been a quality pitch framer. He was also a superior blocker. Last year, Vázquez was charged with just one passed ball and was behind the plate for 19 wild pitches. Jeffers committed three passed balls and allowed 28 wild pitches.

Despite Vázquez’s defensive advantage, the Twins may prefer to give Jeffers an extra 15-20 starts to keep his bat in the lineup. That’s particularly true when considering the financials. Vázquez’s deal pays him $10MM annually. That’s a lot for a part-time catcher. Minnesota’s front office has been hamstrung by the budget for a second straight offseason. The Pohlad family ownership group has been loath to raise payroll as they explore a sale of the franchise. Minnesota has not made a single major league free agent signing this winter. Their biggest moves have been depth trades for Mickey Gasper and former top catching prospect Diego Cartaya.

The Padres are in a remarkably similar spot. While ownership isn’t selling the franchise, there’s litigation amongst the Seidler family for control. San Diego has slashed payroll for two straight years themselves. They also have not signed any major league free agents or made any trades of consequence.

Padres president of baseball operations A.J. Preller has his work cut out for him in addressing multiple areas of need with a limited budget. Catcher is probably the biggest issue on the position player side. San Diego hoped that Luis Campusano would run with the job in 2024. Instead, he hit .227/.287/.361 while grading as one of the league’s worst defensive catchers.

Campusano ceded the starting job to Kyle Higashioka down the stretch. Higashioka landed with the Rangers on a two-year free agent deal, leaving Campusano as the default projected starter. Brett Sullivan is the only other catcher on the 40-man roster. San Diego recently added Martín Maldonado on a minor league contract. He hit .119 in 48 games for the White Sox last season. Chicago released him in July.

The 34-year-old Vázquez would provide a significant defensive upgrade over Campusano. While he hasn’t produced at the plate in Minnesota, he was a league average hitter (.274/.315/.399) between the Red Sox and Astros back in 2022. There’s more hope for getting something offensively from Vázquez than there would be if they select Maldonado’s contract.

San Diego would not take on Vázquez’s entire salary. He’s comparable to Jacob Stallings ($2.5MM) and Austin Hedges ($4MM), each of whom signed cheap one-year deals as free agents this offseason. The Padres could push for Minnesota to eat at least half the money to facilitate a trade. Hayes and Lin write that the Twins are reluctant to pay down too much of the deal. Their primary motivation of trading Vázquez would be salary relief. They’d also perhaps need to earmark a couple million dollars for a veteran to back up Jeffers (e.g. Elias Díaz, Yasmani Grandal). The other catchers on their 40-man roster — Cartaya and Jair Camargo — have five combined games of MLB experience.

Minnesota is looking for a first baseman who can replace Carlos Santana. They’re seeking a right-handed hitting outfielder as well. Beyond Vázquez, Chris Paddack ($7.5MM) stands as their clearest trade candidate to create a bit of payroll room. To be clear, there’s no suggestion that the Padres have interest in reacquiring Paddack. Justin Turner, Anthony Rizzo and Ty France are among the unsigned first basemen. Mark Canha, Austin Hays and Randal Grichuk are a few righty-swinging outfielders still on the open market.

In addition to their catching pursuit, San Diego needs back-end rotation help and a replacement for Jurickson Profar in left field. They’re unlikely to achieve all of that without shedding salary in a trade of their own. Dylan Cease is their biggest trade chip. He’ll make $13.75MM in his final year of arbitration. Dealing him would be a huge hit to an already thin rotation, but they’d net MLB help in return while creating a decent chunk of short-term payroll space.

The Athletic reports that the Twins are among a number of teams that have shown interest in Cease. Vázquez obviously would not be a key piece in a trade of that magnitude, though he could be included as an ancillary part of a much larger package. As a comparison, Higashioka was probably viewed as the fifth-most valuable player in San Diego’s return from the Yankees for Juan Soto at the time of that trade.

Cease and Arraez have both seen their names in the rumor mill frequently this winter, but Suarez and Cronenworth have been far less frequently discussed to this point. In fact, Lin himself suggested in early December that the Padres were inclined to keep Suarez at that point in the offseason. That the club has subsequently begun to entertain interest in the closer’s services is certainly worth noting. At the time, Lin relayed that Suarez’s trade value was complicated by the presence of an opt-out clause in his contract that would allow him to head to free agency after the 2025 season rather than receive $8MM salaries in 2026 and ’27.

Perhaps as the relief market has begun to develop, rival clubs have changed their evaluation of Suarez. With righty Jeff Hoffman landing a $33MM deal with the Blue Jays, veteran set-up man Andrew Kittredge securing a $10MM guarantee from the Orioles, and some reports suggesting closer Tanner Scott could land an AAV in the $20MM range this winter, it’s certainly feasible that the possibility of being on the hook for $26MM over three years if Suarez opts in has become more palatable. After all, Suarez’s 2.77 ERA in 65 innings as the Padres closer positions him as one of the better relief arms in the game and compares quite well with Kittredge in particular. With that being said, it’s also possible that the Padres have become more motivated to clear salary as the offseason has continued and are open to dealing Suarez even if the return is lighter than they would have accepted a month ago.

As for Cronenworth, it’s somewhat difficult to imagine the club getting a meaningful return for his services beyond salary relief. He was a perfectly serviceable infield option for San Diego in 2024, hitting a roughly league average .241/.324/.390 in 656 trips to the plate while splitting time between first and second base. That was enough to make Cronenworth roughly a two-win player according to both Fangraphs and Baseball Reference last year, a notable step up from 2023 but still well below the numbers he posted during his back-to-back All-Star campaigns in 2021 and 2022. With just over $72.7MM left on Cronenworth’s contract to be paid out over his age 31 to 36 seasons, the versatile infielder seems unlikely to be moved without the Padres eating significant salary or taking on another bad contract in return.

Interestingly, Lin suggests that the Padres would prefer to keep “at least” Arraez in the fold for 2025 out of those four names. That’s something of a surprise given Arraez’s hefty $14MM salary in his final year under team control and the fact that replacing him at first base could surely be done for much cheaper, thereby opening up payroll space to upgrade other areas. Even Lin acknowledges that Arraez’s pricey final year under contract could be an obstacle for San Diego as they look to retool their roster. With that being said, it’s possible that the market for Arraez hasn’t been especially robust. Few teams have been directly connected to the infielder this winter, and one rumored suitor was seemingly taken off the table when reports pushed back on the idea that the Yankees could have interest in acquiring Arraez to play second base for them in 2025.

However the club ultimately decides to go about moving salary, it seems all but certain they’ll need to make a trade or two before the season begins. RosterResource projects the club for a luxury tax payroll of just under $243MM in 2025, putting them about $2MM over the first threshold, with an actual payroll of just over $208MM. The club surely wants to duck under that first luxury tax threshold this winter, and previous reports have indicated that they want their final payroll to clock in below its current level while not necessarily dropping all the way back down to last year’s $169MM payroll. With clear needs in the outfield and rotation, it’s hard to imagine the Padres achieving all of their offseason objectives without moving at least one player due a significant salary in 2025, if not more.

Cease, 29, was everything the Padres could have hoped for in 2024 after they sent Drew Thorpe, Jairo Iriarte, Samuel Zavala, and  Steven Wilson to the White Sox last March to acquire him. In a league-leading 33 starts, Cease pitched to a 3.47 ERA and 3.46 SIERA. He finished fourth in NL Cy Young voting. The Padres went 20-13 (.606) in his outings.

The 2024 campaign marked a resurgent bounceback for Cease following his disappointing 2023. After finishing runner-up in the AL Cy Young race in 2022, the righty lost velocity on his fastball the next season and finished with a 4.58 ERA. The underlying numbers suggested Cease was the victim of some rotten luck (and some terrible defense), but no matter how you sliced it, he didn’t look quite as dominant as he was the year before. In addition to his declining velocity, his strikeout rate was down, his hard-hit rate was up, and his 4.10 SIERA ranked 25th out of 43 qualified pitchers.

In 2024, Cease put all concerns to bed and proved he is still a frontline starting pitcher. His velocity was back up on all his pitches, and he even toyed with a new sweeper – to good results (.218 wOBA, 38.5% whiff rate). He ranked among the top 10 qualified pitchers in SIERA, FIP, and xERA, while cementing himself as one of the most durable starters in the league. Over the past four years, no one has started more games. Even the diminished version of Cease on display in 2023 would be well worth a $13.75MM salary. If he’s at the top of his game again in 2025, he’ll be one of the more underpaid aces around. Fortunately for Cease, if he can do that, he’ll be putting himself in a strong position to cash in big as a free agent next winter.

As for the Padres, they’ll be even more reliant on Cease in 2025 after losing fellow All-Star righty Joe Musgrove to a UCL injury in October. After undergoing Tommy John surgery, Musgrove will miss the entire 2025 campaign. That makes it all the more surprising that Cease’s name has come up in trade speculation this offseason. While there is no indication the Padres are actively shopping their ace, teams have inquired about his availability, and president of baseball operations A.J. Preller has not said anything to shut down the trade rumors. As ESPN’s Jeff Passan recently wrote, teams that have called the Padres about Cease “haven’t been rebuffed entirely.”

The Padres are reportedly trying to get their payroll down to somewhere in between last year’s $169MM total and this year’s current estimate of $208MM (per RosterResource). Trading Cease and his $13.75MM salary could allow the Padres to accomplish that. He’s not their most expensive player, but of the nine Padres set to earn eight figures in 2025, he is certainly the most tradeable. Still, the Padres are planning to compete this season, and it’s very difficult to imagine them trading their best starting pitcher to trim payroll without significantly hurting their chances in the NL West. It’s hard enough to find a pitcher of Cease’s caliber at any price, let alone on a one-year, $13.75MM deal.

If San Diego is going to make any upgrades of note, they'll need to first offload some money. It seems the Padres intend to get below the $241MM luxury tax threshold. RosterResource calculates their CBT number around $244MM. There are a few ways they could try to accomplish that. The ideal scenario would be to offload some of the money owed to Xander Bogaerts or Jake Cronenworth, but trading an underwater deal isn't easy. San Diego could move Luis Arraez but seems to want more value in return than other teams are willing to offer.

As a result, Dylan Cease has been at the periphery of offseason trade rumors. Reporting at the Winter Meetings suggested that the right-hander was available. There hasn't been any indication that they've moved close to a deal in the past month. It seems they're mostly status quo. ESPN's Jeff Passan wrote this week that the Padres have been willing to hear other teams out on Cease, though he doesn't suggest that San Diego is actively shopping him.

Unlike Bogaerts, Arraez and Cronenworth, Cease holds immense trade value. The Padres could demand a significant package while offloading his entire salary. They'd need to weigh that against subtracting arguably their best starter from a rotation that comprises Cease, Michael King, Yu Darvish and a host of question marks.

If the Padres decide they're motivated to move Cease within the next two months, what kind of return should they expect? A few trades over the past two offseasons provide some indications about how the market could value him.

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It was reported this week that the club was probably going to have to drop its payroll commitments. They had a $169MM payroll in 2024 but RosterResource currently projects them to be at $210MM next year. It’s not known exactly where they need to wind up, but it should be somewhere in between those two numbers. Acee’s report from today suggests that Preller can be above $169MM but not by much. Trading prospects doesn’t seem to be a strong consideration since the club has done a lot of that in recent years. The farm is still highlighted by Leodalis De Vries and Ethan Salas but all reports have suggested those two are fairly untouchable.

That’s a tricky situation since the Friars need to upgrade at catcher, in an outfield corner and in the rotation. Doing so while also cutting spending is a difficult tightrope to walk. It’s a similar situation to last winter, when the Padres also had to scale back the budget but had notable concerns about the pitching depth and outfield.

President of baseball operations A.J. Preller somehow made it work by trading Juan Soto to the Yankees for a pile of pitchers, including Michael King and Drew Thorpe, with the latter then used to acquire Cease. They also moved shortstop prospect Jackson Merrill to center field, skipping him over Triple-A, and struck gold by signing Jurickson Profar for just $1MM. They ended up having a good season and getting back into the playoffs but now face another tough balancing act.

Bogaerts, Manny Machado, Fernando Tatis Jr., Joe Musgrove and Yu Darvish are all making big money but those contracts are hard to move, both because the players are key parts of the roster and each has a full no-trade clause. Cease and Arráez, however, have no such protection and both are controlled for just one more season via arbitration. MLBTR contributor Matt Swartz projects Arráez for a salary of $14.6MM next year and Cease for $13.7MM.

That amount of money is perhaps a sweet spot. The players should have surplus value, meaning they would generate interest from other clubs, but the numbers are also big enough where a trade would reduce San Diego’s payroll by a notable amount.

It will be a delicate line for Preller to walk, especially with Cease. The rotation is already thin as it is, with Musgrove slated to miss most or all of 2025 recovering from Tommy John surgery. There’s a strong front three of Cease, King and Darvish but question marks after that. Moving Cease could save some money and bring back a return of some kind, but it would make the rotation depth even thinner. Getting Roki Sasaki would be ideal since he’s very good and will be limited to a small signing bonus, but there’s no guarantees there and it will be another month before there’s clarity on the situation.

One thing that could help is converting a reliever to a full-time starting role, as they did with King last year and Seth Lugo before. AJ Cassavell of MLB.com relays that Preller has identified Adrián Morejón, Bryan Hoeing and Stephen Kolek as candidates for such a move.

MLBTR looked into the possibility of stretching out Morejón in October, though MLBTR readers were fairly split on the idea, with a slight majority favoring him staying in the bullpen. The argument for stretching him out is that he was once a highly-regarded starting pitching prospect before getting derailed by injuries. In 2024, he was healthy enough to avoid the IL all year, tossing 63 2/3 innings out of the bullpen with a 2.83 ERA, 26.1% strikeout rate, 7.7% walk rate and 51.4% ground ball rate. The Padres could just keep him in that role since it worked for him but they could also view that healthy season as a springboard to a larger workload in 2025.

Neither Hoeing nor Kolek had the same prospect pedigree as Morejón but both have largely worked in relief after coming up as starters in the minors. Hoeing tossed 53 2/3 innings in 2024 with a 2.18 ERA, 20.5% strikeout rate, 6.7% walk rate and 48.3% ground ball rate. Kolek tossed 46 2/3 innings with a 5.21 ERA, 18.5% strikeout rate, 5.7% walk rate and 55.9% ground ball rate.

Any of the three would be far cheaper than Cease. Hoeing and Kolek are still in their pre-arbitration years. Morejón’s injuries have limited him to modest $1.8MM projection for next year even though he has more than four years of service time. That price point is attractive but there’s obviously big risk in flipping an established starter like Cease and hoping for these guys to slot in for him.

With Arráez, it’s a bit easier to see the logic. Without him, the club could have an infield of Machado, Bogaerts and Jake Cronenworth from left to right. Finding a passable first baseman for less than what Arráez is slated to make is more plausible than replacing Cease with a pitcher of similar quality. They could flip Arráez for whatever clubs are willing to offer in return, then theoretically sign someone like Donovan Solano, Carlos Santana or Justin Turner for less money.

But on the other hand, the teams interested in Arráez could also look to those options as reasons to not give up much in trade. Despite winning three straight batting titles, Arráez is a fairly limited player since he’s not a strong defender, doesn’t walk much and doesn’t provide power. He’s certainly useful but Acee suggests Cease is more likely to move because the prices on starting pitching have been aggressive this winter, meaning he would have more interest than Arráez despite having essentially the same projected salary.

The Bogaerts possibility in interesting but the least likely of the three to come together. As mentioned, he has a full no-trade clause and would have to approve any deal. He’s also set to make $25MM annually for another nine years, leaving $225MM left on his deal. Heyman suggests that the strong spending this winter makes the deal look more attractive than before, but that’s still an underwater deal.

Bogaerts is three years older than Willy Adames, who just got a guarantee of $182MM from the Giants. He’s also coming off a down year in which he missed time due to injury and slashed .264/.307/.381 for a 95 wRC+. His shortstop defense has also been questionable enough that the Padres moved him to second base in deference to Ha-Seong Kim, though he did retake the position late in the year when Kim was hurt. Even if the Padres found a taker for Bogaerts, it would create a shortstop vacancy and add another item to the to-do list. Re-signing Kim is theoretically possible but he’s still recovering from shoulder surgery and might not be a factor in the first half of the season. The free agent market doesn’t have any more clear-cut everyday options.

Speculatively speaking, it’s a bit easier to see this kind of thing with Cronenworth, who had been in trade rumors in the past. Going into 2023, he and the Padres agreed to a seven-year, $80MM extension for the 2024-30 seasons. He then had a down year in 2023 and the Friars looked into moving him during last winter’s budget crunch but didn’t get anything done. He bounced back with a .241/.324/.390 showing in 2024 for a 105 wRC+, much better than his .229/.312/.378 line and 91 wRC+ in 2023.

He is still owed $71MM over the next six years but that’s less than a third of the money left on the Bogaerts deal. Cronenworth is also a bit younger, turning 31 in January. Trading him would open a hole at second base for the Friars, unless they are willing to play Arráez there, but free agency features Gleyber Torres, Jose Iglesias, Jorge Polanco and other possible replacements.

There are many factors for Preller to balance as he puts together next year’s club, but it’s at least a position he’s familiar with. Naturally, how he proceeds will depend on what other clubs are offering for Cease or Arráez or other players, but it will interesting to see him juggle all the different elements.