The MLB trade deadline was the last chance for MLB contenders to substantially improve their rosters by adding talent from outside of their organization. It was also the last chance for teams out of contention to capitalize on trading players they don't consider part of their long-term future.
Many of the slew of players available wound up getting traded at some point before the July 31 trade deadline, but there were some exceptions to that. These four players were not traded at the deadline for reasons only GMs can explain, and it's safe to say that the teams that passed on them regret doing so in hindsight.
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4) Dennis Santana, Pittsburgh Pirates
The Pittsburgh Pirates didn't make as many deadline deals as they were expected to, but they did take advantage of the expensive reliever market by sending David Bednar to the New York Yankees. Since they were willing to trade Bednar, a high-end reliever with an additional year of club control, it was surprising that Dennis Santana, another reliever with an additional year of club control, was kept around. Perhaps the Pirates weren't open to moving both relievers, but MLB teams should regret not offering more to pry Santana away.
Sure, his 5.93 ERA post-deadline is far from stellar, but five of the nine earned runs he's allowed since the deadline came in his first appearance. Since that one rough outing, he's allowed just four runs in 13.1 innings of work, posting a 2.70 ERA. He's also converted seven of his eight save opportunities while taking over for Bednar in the Pirates' closer role.
Santana was in the midst of a breakout year prior to the deadline, and outside of that one rough outing, all he's done is continue to impress. He could've helped many bullpens not only down the stretch, but in 2026 as well.
3) Raisel Iglesias, Atlanta Braves
Perhaps the most shocking trade deadline outcome was that Raisel Iglesias wasn't traded away. I get that Iglesias was in the midst of a down year, but you're telling me the Atlanta Braves couldn't get anything they deemed to be worthwhile? I'd understand it more if he had additional club control, but this is his final year under contract. MLB teams must regret not offering enough for him in hindsight, based on what he's done since the deadline.
The right-hander has allowed a total of one run on eight hits with two walks and 14 strikeouts in 14 innings of work. He has a 0.64 ERA in that span, has converted all 10 of his save opportunities, and won the NL Reliever of the Month award for August. He's been that good.
Iglesias, rather remarkably, has won three consecutive August NL Reliever of the Month awards. Has now won each of the past Augusts with #Braves. His only other monthly reliever award was in July 2021 with the Angels. https://t.co/lHqxcdOwYD
— David O'Brien (@DOBrienATL) September 3, 2025
Iglesias has now won three straight Reliever of the Month awards in August, and his previous August success is something teams should've had in mind. The first half of this season was brutal, but he was pitching better before the deadline, and obviously has completely turned his season around now. Teams should've bet on the track record, which is outstanding, particularly in the dog days of summer.
I believe everyone is at fault for Iglesias not getting dealt. Iglesias didn't help himself by having a poor first half, teams clearly didn't value him as much as they should've, and the Braves probably should've taken whatever they could've gotten for a free agent to be at the end of this season in what's amounted to a lost season for the franchise.
Iglesias could've changed any given team's bullpen. The fact that he's still in Atlanta pitching this well for a team out of contention is something all teams trying to make the playoffs should be ashamed of.
2) Sandy Alcantara, Miami Marlins
It goes without saying that Sandy Alcantara did not look anything like the Cy Young award winner he was prior to undergoing Tommy John Surgery in the first half. He was objectively one of, if not the worst starting pitchers in all of baseball. Because of that, teams, understandably, were not eager to meet what clearly amounted to a massive asking price from the Miami Marlins. That's a decision that looks bad in hindsight.
Alcantara struggled in his first two starts after the trade deadline, but in his last four outings, he's looked like the ace everyone expected him to be. He's posted a 1.67 ERA across those four starts, allowing just six runs (five earned) on 14 hits in 27 innings of work. His stuff has been there for much of the year, but his command has really taken a step up lately, as he's issued just five walks in those four starts, all four of which came against good to great offenses.
Alcantara looks like an ace right now. Perhaps this is just a blip, but this is the best he's looked all year. If it continues, and there's every indication that it will, teams will have missed out on a surefire ace. That's a tough pill to swallow for most teams in contention.
1) Zac Gallen, Arizona Diamondbacks
Similar to Alcantara, Zac Gallen had a miserable start to his season. He pitched so poorly to the point where teams were unwilling to give the Arizona Diamondbacks much of anything to acquire him in the final year of his deal. Well, Gallen is proving everyone wrong.
The right-hander has made seven starts since the trade deadline. He's gone at least six innings in six of the seven and has allowed three runs or fewer in all seven outings. He has a 2.20 ERA overall in those starts, looking like the pitcher who received Cy Young votes in three of the past five seasons prior to the 2025 campaign.
I can understand teams not wanting to give up a king's ransom for Alcantara given how he looked coming off injury, but Gallen wasn't going to cost nearly as much while pitching on an expiring contract. I understand there was some risk as he struggled for four months, but the upside for a pitcher who not too long ago was one of the best in the National League was too high to ignore.
Passing on Gallen could prove to be a costly error for several teams that need starting pitching help.