Although I was perhaps foolish to think that this past week would serve as something of an extension of the Winter Meetings, with a ton more dominoes falling, there was still a nice chunk of roster moves that rolled in. For most of this week, the significant updates to the Offseason Matrices document came on the Trades/Claims page, with the free agent moves being more complementary in nature. That is, until Friday afternoon, when Christian Walker and the Houston Astros reportedly agreed to a three-year deal. We’ll start with that move. Then, we’ll work our way through the other signings, move onto the week’s two major trades, and close with a two of the latest rumors.
Free Agent Signings
Astros Sign Christian Walker for Three Years, $60 Million
• Updated Roster Projection
• Updated Payroll Projection
Effect on the Astros
Walker gives the Astros their second new righty power bat, joining corner infielder Isaac Paredes, whom they acquired from the Cubs in exchange for Kyle Tucker. Walker will man first base, with Paredes staying at third base instead of sliding over to first, which would have happened if Houston had re-signed Alex Bregman or traded for Nolan Arenado. Walker’s signing almost definitely means that Bregman will not be returning to the Astros. If they add another starting-caliber position player, it will likely be an outfielder, and probably a lefty-hitting one.
More details of the signing are still to come. Michael Baumann will cover all that later in a more detailed write-up of the signing.
Effect on Other Teams
The Yankees were the other team most strongly connected to Walker, but they’re not without options at first base. They recently traded for Cody Bellinger (more on that move below), and while ideally he’d be their starting center fielder, he is also a capable first baseman. If they keep Bellinger in the outfield, they could sign Pete Alonso, Carlos Santana, or Paul Goldschmidt. Walker is an excellent player, but he’s far from the only first baseman available for teams looking to upgrade at the position.
Effect on Similar Players
Just because Walker matched his median contract prediction in both years and dollars, that doesn’t mean Alonso will get his median prediction of six years and $135 million. That said, Walker’s deal shows that there is a solid market for slugging first basemen. Alonso is four years younger than Walker and hits for more power, so he’ll almost certainly sign a larger deal than Walker. The question is how much money and for how many years teams are willing to commit to the 30-year-old Alonso, whose value all but exclusively comes from his bat. With Walker off the board, Alonso’s market could come into greater focus in the coming days and weeks.
Red Sox Sign Patrick Sandoval for Two Years, $18.25 Million
• Updated Roster Projection
• Updated Payroll Projection
Effect on the Red Sox
The immediate effect on the Red Sox is basically nil. Sandoval underwent Tommy John surgery in late June, making a second-half return the best-case scenario for him. Once he’s back — which could be in 2026 — he’ll join Garrett Crochet, Tanner Houck, Kutter Crawford, Brayan Bello, and Lucas Giolito, who also is currently rehabbing from elbow surgery, in Boston’s rotation mix. He’s a good depth add to an organization that’s got some other depth arms — Richard Fitts, Cooper Criswell, Quinn Priester — but is short on impact high-level prospects.
Effect on Other Teams
Because of Sandoval’s delayed impact, there was never going to be much of an onus on teams who didn’t sign him to do something in response. He was always going to be a long-term play.
Effect on Similar Players
Sandoval’s sizable two-year rehab contract is good news for other starters in a similar boat. That group includes John Means, Marco Gonzales, Wade Miley, and José Urquidy. While Sandoval is younger than all of those guys, and therefore should beat the deals they eventually sign, Means and Urquidy are plausible to earn $10 million or more on two-year contracts.
Orioles Sign Tomoyuki Sugano for One Year, $13 Million
• Ben Clemens’ Write-Up of the Deal
• Updated Roster Projection
• Updated Payroll Projection
Effect on the Orioles
The Orioles shouldn’t — and probably won’t — abandon their quest for a top-end starter just because they added the 35-year-old Sugano, even if his excellent command makes him a strong upside play despite his age. Sugano will be guaranteed a rotation spot along with Zach Eflin, Grayson Rodriguez, and in all likelihood, Dean Kremer, but there’s still room for another arm to front the quintet.
A return of Corbin Burnes can’t be ruled out until he actually signs elsewhere, but the Giants and Blue Jays are viewed as front-runners for his services. A reunion with Jack Flaherty, who was traded to Baltimore in mid-2023 before his bounce-back 2024 season with the Tigers and Dodgers, is another option the team could be considering. Or, the Orioles could go the trade route and call the Padres about Dylan Cease or the Mariners about one of their starters.
Effect on Other Teams
Sugano’s upside and reasonable price tag likely earned him widespread interest, and other older free agent starters who will sign one-year deals just don’t have the track record that Sugano had in Japan. Teams will probably have to target lesser-caliber pitchers if they’re looking for rental starters, then.
Effect on Similar Players
Max Scherzer and Justin Verlander have Hall of Fame pedigrees, so $13 million or more seems doable for them. But starters lower down the list — like Lance Lynn, Kyle Gibson, and Martín Pérez — will probably be limited to around $10 million.
Cubs Sign Carson Kelly for Two Years, $11.5 Million
• Updated Roster Projection
• Updated Payroll Projection
Effect on the Cubs
Kelly takes the Cubs out of the market for another catcher; he’ll pair with Miguel Amaya in what should be a pretty even timeshare behind the plate. They’re both just keeping the seat warm for top prospect Moises Ballesteros.
Effect on Other Teams
Kelly was the last catcher available with a chance to sign a multi-year deal, so any other moves for free-agent catchers are going to be more temporary in nature. Yasmani Grandal, James McCann, and Elias Díaz are still on the market.
Effect on Similar Players
As mentioned above, there really aren’t any similar players left on the market. Kelly’s signing was effected by the similar catchers who signed two-year deals before him: Kyle Higashioka ($13.5 million) and Travis d’Arnaud ($12 million).
Phillies Sign Max Kepler for One Year, $10 Million
• Updated Roster Projection
• Updated Payroll Projection
Effect on the Phillies
Barring a salary dump of Nick Castellanos, the Kepler signing may well finalize the Phillies’ outfield mix. Castellanos should be in the lineup just about every day, with left-handed hitters Kepler and Brandon Marsh playing mostly against righty pitchers, and Johan Rojas and Weston Wilson serving as their short-side platoon partners against left-handers.
Effect on Other Teams
There weren’t other teams in on Kepler, at least not publicly, so I don’t anticipate immediate cascading effects here. That said, with Kepler and Michael Conforto both off the board, the lefty outfielder market may start to percolate.
Effect on Similar Players
And Kepler gives those lefty outfielders another data point, along with Conforto’s $17 million price tag from the Dodgers. Lefties coming off rough years (as Kepler was) include Alex Verdugo and Jason Heyward. Meanwhile, Jesse Winker should be aiming higher than the $10 million Kepler got, considering he’s coming off a better season than the one Kepler had.
Nationals Sign Michael Soroka for One Year, $9 Million
• Updated Roster Projection
• Updated Payroll Projection
Effect on the Nationals
Soroka will reportedly return to the rotation for the Nationals, despite finishing the season on a dominant stretch out of the White Sox bullpen. MacKenzie Gore and Jake Irvin are sure to share the rotation with Soroka, with the last two spots currently coming down to a mix including (but not limited to) DJ Herz, Mitchell Parker, Cade Cavalli, Joan Adon, and Jackson Rutledge. The club may be content with that mix for now.
Effect on Other Teams
Soroka had widespread interest thanks to his excellent start to his career way back in 2019, his age (27), and his brilliance to finish the 2024 season. There aren’t exactly similar alternatives left on the market, though there are plenty of starters who will sign for right around that $9 million figure.
Effect on Similar Players
Seeing a team pay $9 million for a starter who was banished to the bullpen could be good news for other free agents who met that fate at the end of the season. However, as mentioned, those available arms don’t have the upside or traits that could translate to starting. Jakob Junis, Joe Ross, and Colin Rea are some of the pitchers who could be targeted as starters despite relieving to end the year, but none of the them brings the potential that Soroka does.
Mets Sign Griffin Canning for One Year, $4.25 Million
• Updated Roster Projection
• Updated Payroll Projection
Effect on the Mets
Canning adds to a strong stable of pitching depth for the Mets, though it’s unclear as of now if he’ll end up in the rotation or bullpen. Kodai Senga, Frankie Montas, David Peterson, and Clay Holmes are expected to make up the first four spots, leaving one or two for Canning, Paul Blackburn, Tylor Megill, José Buttó, and perhaps prospects Jonah Tong and Brandon Sproat.
Effect on Other Teams
There weren’t other teams with reported interest in Canning, so as far as we know, teams won’t be pivoting en masse now that Canning is off the market.
Effect on Similar Players
Canning got a pretty strong deal after the Braves non-tendered him; his arbitration projection was $5.4 million, per MLBTradeRumors, so getting just $1.15 million less than that isn’t too shabby. That’s good news for Cal Quantrill, the other prominent non-tendered starter. Quantrill’s arbitration projection was $9 million; considering he’s coming off a better season than Canning, he should be able to sign for something in the $5-6 million range.
White Sox Sign Bryse Wilson for One Year, $1.05 Million
• Updated Roster Projection
• Updated Payroll Projection
Effect on the White Sox
With a wide-open rotation competition after the Garrett Crochet trade, Wilson represents a new entrant. If he doesn’t win a spot there, he’ll head to the bullpen, where he’s pitched better in his career anyway.
Effect on Other Teams
Not much here. Wilson isn’t the type of player who drives the rumor mill, and while it’s fair to assume other teams were looking at him, there are plenty of other similar pitchers available.
Effect on Similar Players
Wilson is one of many pitchers who’ll sign small contracts in the coming weeks and months. This doesn’t change that.
Athletics Sign Gio Urshela for One Year ($TBA)
• Updated Roster Projection
• Updated Payroll Projection
Effect on the Athletics
Third base had been the most glaring positional need for the A’s, but they appear to have filled that hole with Urshela in the fold. The starting nine appears to be just about set, though they could always add some depth pieces.
Effect on Other Teams
The third base market was always thin beyond Alex Bregman, and it just got thinner. If you’re in need of a third baseman and don’t want to trade for one or pay for Bregman, Yoán Moncada, Josh Rojas, and Paul DeJong are just about your only choices left.
Effect on Similar Players
Urshela’s money hasn’t yet been reported, but once it is, that’ll help inform the earning potential for the above mentioned third basemen, especially because Urshela had a pretty weak season and doesn’t have much upside left at his age.
Rangers Sign Hoby Milner for One Year ($TBA)
• Updated Roster Projection
• Updated Payroll Projection
Effect on the Rangers
The Rangers’ biggest need entering the offseason was relief pitching, and Milner (plus Jacob Webb) don’t do a whole lot to help plug the leaks. Texas still needs a closer, whether that comes via a reunion with Kirby Yates or David Robertson, or a more expensive contract for Tanner Scott or Carlos Estévez.
Effect on Other Teams
Lefty relievers are always in strong supply in the offseason, but Milner offered an arm angle that’s different from most other lefties. Side-winder Tim Hill and soft-tossing Ryan Yarbrough are still available.
Effect on Similar Players
Milner’s contract could be something of a measuring stick for Hill and Yarbrough, though because Milner was non-tendered, he’s not in quite the same situation as the other two, who were free agents at the start of the offseason. Non-tenders tend to have their earnings more or less capped at what they would’ve made in arbitration, which for Milner would have been around $2.7 million.
Trades
Yankees Acquire Cody Bellinger From Cubs
• Michael Baumann’s Write-Up of the Trade
• Updated Yankees Roster Projection
• Updated Yankees Payroll Projection
• Updated Cubs Roster Projection
• Updated Cubs Payroll Projection
Where the Yankees Go From Here
You can’t replace Juan Soto, but in acquiring Bellinger, the Yankees are off to a decent start as they try to backfill the gaping hole in their lineup. Bellinger could end up playing either center field or first base for the Yankees, who entered this offseason needing to upgrade at both positions. (Yes, Aaron Judge was the best center fielder in baseball last year, but he’s better off playing a corner spot.) Bellinger’s ability to play both positions well allows the Yankees to cast a wider net looking for improvements between now and the start of the season. That’s exactly what they’re doing — look at all the players on the Matrix they’ve expressed interest in, marked in blue.
Where the Cubs Go From Here
A Bellinger trade looked like a fait accompli as soon as the Tucker trade went through, and having most of Bellinger’s money off the books will allow the Cubs to reinvest that cash into their bigger need: pitching. They could use multiple upgrades in their bullpen, and they could do that also by adding a starter, which would push Javier Assad into a relief role. With Bellinger gone, the Cubs could also use some bench depth, likely someone capable of playing third base who’ll compete with and push Matt Shaw for the job out of spring training.
Athletics Acquire Jeffrey Springs From Rays
• Eric Longenhagen’s Write-Up of the Trade
• Updated Athletics Roster Projection
• Updated Athletics Payroll Projection
• Updated Rays Roster Projection
• Updated Rays Payroll Projection
Where the Athletics Go From Here
The A’s rotation is in better shape than it was at the end of the season, with Springs and Luis Severino joining the fold, but their starting staff still lacks depth. They’ll probably keep looking to add starters, though their search will probably be limited to those in the market for cheap, short-term contracts.
Where the Rays Go From Here
The Rays were always going to deal from their surplus of starters, and Springs always made the most sense since he’s making real money by Tampa Bay’s standards. Getting a competitive balance pick (35th overall) is perhaps the big coup for the Rays here, though the electric, enigmatic Joe Boyle will certainly get a ton of attention from pitching coach Kyle Snyder. Springs may not be the last player the Rays trade away; Zack Littell, Yandy Díaz, and Brandon Lowe reportedly have all come up in trade talks.
Biggest Rumors of the Week
• Earlier this week, before the Astros signed Walker, they nearly traded for Arenado, who would’ve been a great fit for Houston’s Minute Maid Park with the Crawford Boxes in left. However, Arenado decided he’d to stay with the Cardinals — at least for now. The veteran third baseman reportedly exercised his no-trade clause and vetoed an agreed upon swap that would’ve sent him from St. Louis to Houston. According to MLB.com, Arenado is willing to accept a trade to six teams — the Red Sox, Mets, Phillies, Dodgers, Padres, and Angels — though it’s unclear if that’s a complete list. Several of those teams don’t have a spot for him anyway. Earlier today, Michael Baumann wrote about Arenado’s diminished performance and what his trade market might be. You should check that out for a more detailed look.
• In another installment of “things that didn’t actually happen,” Jeff Passan of ESPN has a good look at why the post-Soto free agency dam hasn’t really burst yet. Based on Jeff’s reporting, there’s no reason to believe we’re in for a glacially slow offseason a la 2018-19, but the remaining big moves look to be coming after Christmas.
Content Source: blogs.fangraphs.com