Whether it's one of the Boras 3 — Alex Bregman, Pete Alonso and Cody Bellinger — Kyle Tucker or a litany of international talent like Munetaka Murakami and Tatsuya Imai, the Hot Stove is on fire already. MLB free agency is in full swing, meaning stars will be on the move before you know it.
The GM Meetings were just the beginning, as front offices spoke with agents and rivals alike to determine exactly which way the market will move this winter. Fears of an impending lockout slowing down this offseason appear to have been overblown; if the qualifying offer deadline (Nov. 18) was any indication, things are moving in the right direction thanks to big decisions made by Gleyber Torres, Shota Imanaga, Brandon Woodruff and more.
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What we know so far about MLB free agency
So far, not much! But, thanks to the qualifying offer deadline passing, we do know some players will remain with their current teams on one-year contracts. Here's a complete list of players who accepted their $22 million deals on Tuesday.
Player | Position | Team |
|---|---|---|
Trent Grisham | OF | Yankees |
Gleyber Torres | 2B | Tigers |
Brandon Woodruff | SP | Brewers |
Shota Imanaga | SP | Cubs |
None of these QO decisions were a major surprise, as there was some doubt any would receive a higher AAV on the open market. However, by accepting one-year deals, it does mean that the likes of Grisham, Torres, Woodruff and Imanaga will be free agents again next season. Essentially, they are betting on bounce-back years in 2026.
Nine other players were offered qualifying offers, but unsurprisingly declined them to test the open market. This list includes players like Kyle Tucker, Bo Bichette, Dylan Cease and Kyle Schwarber, among others.
Latest MLB free agent signings
Free agency is in its infancy. However, we do have at least one signing to speak of. Acting quickly isn't always in the best interest of top free agents, as their market should only grow with each passing day. For Josh Naylor, though, the opportunity to stay put in Seattle (which came one game away from the World Series) was too appetizing to pass up.
Josh Naylor re-signs with Mariners on five-year, $92.5 million deal
The Mariners knew just how important Naylor was to their World Series pursuit. The first baseman spent only 54 games with the Mariners, but had a 2.2 bWAR over that span at a position that doesn't easily accumulate that statistic. Minus Pete Alonso and Cody Bellinger, there weren't a lot of free agents who were more valuable at his position than Naylor.
The fit in Seattle always made sense. After acquiring the former Guardians and Diamondbacks star at the trade deadline, the Mariners acted quickly to keep a key member of their ALCS core around. This is a team that hadn't won a playoff series in nearly 30 years prior to this season. With Naylor, there should be more where that came from.
Hot stove heat check
Even though only a few players have signed via free agency, there's still plenty of action on the Hot Stove thanks to the MLB GM Meetings, which took place in mid-November. Here's what we know so far.
Heating up
Kyle Tucker, outfielder
It's early, but we've heard plenty of Kyle Tucker chatter so far. He declined his qualifying offer by the Nov. 18 deadline. ESPN's Jeff Passan suggested the Toronto Blue Jays should be the early favorites to land the star outfielder. That could mean losing out on Bo Bichette, but Tucker is undoubtedly the best player in this class. With a projected contract over $400 million when all is said and done, Tucker should take his time to find a suitor — but that doesn't mean teams won't try to sign him early on.
Pete Alonso, first baseman/designated hitter
With Naylor signing his contract early, the demand for the best first baseman on the open market will only go up. Alonso has been through this before, and the Scott Boras client is also unlikely to sign early this winter. However, he's already garnered some interest from the Mets (duh) and the Boston Red Sox, where he could be paired with Alex Bregman.
Kyle Schwarber, designated hitter
Again, not a huge shocker here. Schwarber is among the most highly coveted free agent bats this winter, and for good reason: He had over 50 home runs last season. While the Phillies remain the favorites to keep him around, expect Kyle from Waltham to get some interest from the Red Sox. The biggest surprise in rumors surrounding Schwarber is the Pittsburgh Pirates' interest. The Pirates are in rarified air, and don't typically spend on players of Schwarber's caliber. Could that change this winter?
Cooling down
Cody Bellinger, outfielder
We love Bellinger around these parts. He can play any of the three outfield spots, first base or DH if called upon. While he doesn't project up the middle on a long-term contract, let's not pretend he isn't one of the best players available in this free-agent class. but while Bellinger's market will surely rebound, it took a hit at the qualifying offer deadline as Trent Grisham accepted his QO from the Yankees. That doesn't mean the Yankees are out, but it does give them a backup plan should Belli head elsewhere.
Zac Gallen, starting pitcher
Gallen has finished in the top five of NL Cy Young voting on two separate occasions, most recently in 2023. Since then, though, Gallen hasn't looked like the same pitcher. He rebounded well after the trade deadline this season — and the right-hander is willing to bank on that to find a new home — but turning down $22.5 million was a puzzling decision. Maybe the market is desperate, but we would've taken the money.
Teams to watch
Pittsburgh Pirates
No, I cannot believe I'm writing this. The Pirates either have every MLB insider fooled about their intentions or will actually add $30 million to their payroll this winter. My money is on the former, but Pittsburgh is undoubtedly a team to watch early this winter. They were reportedly in on Naylor, but were ultimately outbid by the Mariners. If they're willing to throw that kind of money around, don't be surprised if they make a big splash or two.
Boston Red Sox
Sure, the Red Sox have a ton of young talent in the pipeline. They also made the postseason this year led by key veteran players like Bregman. The buzz around baseball is that Boston prefers to not just keep Bregman around but add to their lineup as well. Alonso was floated by Passan in his post-GM Meetings notebook. That duo in an already-stacked lineup makes for a devastating one-two punch most AL teams wouldn't be able to compete with. Oh, and what if they trade Jarren Duran?
Baltimore Orioles
Another surprise here. The Orioles took a pretty major step back in 2025, and if they hope to avoid a similar fate in 2026, the time is now for Mike Elias to convince ownership to open their wallets. Enter Alonso, who would thrive at Camden Yards and could immediately slide into a power position in Baltimore's lineup. It won't come cheap, but the O's are a team to watch this winter.
New York Yankees
Grisham accepted his qualifying offer, which means the Yankees don't necessarily have to overpay for Cody Bellinger. As mentioned earlier, what New York chooses to do (or not to do) this winter will have major implications on their World Series window and the AL playoff race in 2026. Which direction Brian Cashman decides to go is up in the air at this point, but Grisham does give them an easy out should they whiff on keeping Bellinger.