With less than two weeks until pitchers and catchers report for spring training, 32-year-old lefty Framber Valdez remains unsigned. He's the last big fish in MLB free agency and there's no resolution in sight, despite rumored interest from a wide range of teams.
Valdez has substantial postseason experience and a remarkable track record of durability and productivity. So what gives? The ex-Houston Astros ace came into the offseason hunting a nine-figure deal over six or seven years. That now feels deeply improbable.
Why has the Framber Valdez market stagnated?
It's easy enough to point to age, as signing Valdez into his late-30s would be a contract almost guaranteed to age poorly. While Valdez is a proven workhorse with a seemingly reliable floor, sinkerballers with declining velocity, who get hit hard, tend to fall off the cliff eventually. Valdez is able to mitigate the risks of hard contact with an exceptional groundball rate, but if his command wavers even a smidge in the years ahead, it could get ugly in a hurry.
Perhaps more worrying, however, are the potential implications of bringing Valdez into a new clubhouse. The veteran southpaw, in a display of not-so-veteran behavior, appeared to intentionally cross up his catcher in September. That happened after Valdez waved off a pitch call and promptly served up a grand slam meatball. His unwillingness to offer a substantiative apology after the game did not help his perception.
There is just too much baggage around Valdez right now. That's the only reason it would take this long for him to find a home. If some of his potential suitors decide to turn to the trade market instead, here are some realistic options:
San Diego Padres: RHP Kodai Senga
The San Diego Padres need rotation help more than most other contenders at this point in the offseason. Unfortunately, AJ Preller's hands are tied due to ownership's ongoing financial disputes, which could render him unable to bid at the necessary level for a top free agent like Framber Valdez.
A trade could prove more viable, with New York Mets righty Kodai Senga of particular appeal. He's under club control for two more years, with a club option in 2028. In terms of pure stuff, Senga feels a lot more valuable than the trade package laid out above. His signature ghost fork sits 12-plus MPH below his fastball and falls off the table with incredible deception.
When he's on, Senga looks like a legitimate frontline ace. He can give San Diego a real weapon come October. The only downsides are health and age, which seem to be working against Senga. After 29 starts as a rookie in 2023, Senga missed all but one start in '24 and was limited to 22 starts in '25. Last season, Senga dealt with a nagging hamstring injury and was even demoted to Triple-A in September.
The surface-level numbers remain excellent, though: 3.02 ERA and 1.32 WHIP, 109 strikeouts in 113.1 innings. San Diego can gamble on Senga course-correcting, getting his fastball back on track to set up the ghost fork. Meanwhile, the Mets get a swingman arm in J.P. Sears, a day-one leverage reliever in Bradgley Rodriguez, and a long-term first base project in 20-year-old Kale Fountain.
Atlanta Braves: RHP Brady Singer
The Atlanta Braves need stability in the rotation after years of injury-addled fugue. When healthy, Atlanta's pitching core offers an incredibly high ceiling. Chris Sale is still an ace pushing into his late-30s. Spencer Strider is due for a bounce-back. Spencer Schwellenbach and Hurston Waldrep both look the part of long-term staples, while Reynaldo López was in the All-Star Game just a year ago.
That said, the injury bug has bitten the Braves too frequently for Alex Anthopoulos and the front office to get complacent. Brady Singer, 29, enters the final year of his contract with the Cincinnati Reds having pitched 150-plus innings in four straight seasons. Atlanta could use that sort of reliable innings consumption.
Singer gets excellent extension on the mound and pitches to contact with a dynamic sinker-slider mix. He won't leap off the page statistically, but he finished last season with a healthy-enough 4.03 ERA and 1.24 WHIP across 32 starts. As a fourth or fifth starter type, Singer fills an important need for Atlanta.
In return, Cincinnati adds to its needy offense, bringing in former All-Star catcher Sean Murphy. The Braves need to clear the path for Drake Baldwin behind home plate. Murphy is an excellent but expensive backup right now. He's under club control through 2028, with a club option for 2029, which ought to appeal to Cincy, even if his aging curve means its more of a front-loaded investment in the timeline.
Philadelphia Phillies: RHP Sandy Alcántara
The Philadelphia Phillies let Ranger Suárez walk and probably aren't any more keen on Framber Valdez. Re-signing Kyle Schwarber and JT Realmuto, while necessary, does not really move the needle for Philadelphia. This is a team reliant on its rotation, especially come October. Zack Wheeler will miss time to begin the year, which leaves the Phillies to potentially cycle through Aaron Nola, Taijuan Walker and an unseasoned Andrew Painter. Not exactly the ideal setup.
Why not call up their rivals from the southern tip, as the Miami Marlins willingly parted with Jesús Luzardo last offseason (and Edward Cabrera and Ryan Weathers this offseason). Miami is in a constant state of spinning it forward. Sandy Alcántara, a former Cy Young winner, is due $17.3 million in 2026 with a $21 million club option in 2027. There's a good chance Philadelphia is more willing to foot the bill on that option than Miami.
The ceiling with Alcántara is well-charted territory. He can touch the high-90s with his sinker, get chases on his slider, and overall produce a healthy groundball rate. His arsenal ought to play well in a hitter-friendly Phillies ballpark. That said, Alcántara lost all of 2024 to Tommy John surgery and struggled upon his return, finishing last season with a 5.36 ERA and 1.27 WHIP. He still pitched 174.2 innings, and Alcántara made progress late in the campaign, but there's baked-in risk. It's unclear how close to his peak the 30-year-old can actually reach.
Philadelphia's excellent track record with pitchers should give them the confidence to take this plunge, especially knowing there's a quick escape route. For Miami, adding Jean Cabrera, who could start MLB games within a couple years, helps soften the blow. TJayy Walton is an intriguing long-term project in the outfield. Cody Bowker, a rookie pitcher, has an incredible side-arm fastball to build upon. This trade eases Miami's cap sheet, a constant priority for them, and opens the door for top prospect Thomas White to crack the Majors.
San Francisco Giants: RHP Brayan Bello
The Boston Red Sox added both Sonny Gray and Johan Oviedo via trade this offseason, with promising lefties Connelly Early and Payton Tolle both waiting in the wings. Oh, and they inked Ranger Suárez to a five-year contract. Boston has a surplus of arms at this point, which puts 26-year-old Brayan Bello squarely in the sights of prying teams.
It's clear the San Francisco Giants don't really want to spend at the level necessary to acquire a pitcher like Framber Valdez. Bello offers a cheaper alternative, locked up through 2029 (with a 2030 player option). His cap hit is only $6.1 million this season, climbing to $21 million for his option in four years — all very reasonable, considering the current pitching market.
San Francisco already has a strong working relationship with the Red Sox front office after the Rafael Devers trade. An infield that includes both Devers and Luis Arráez is not ideal for Bello's sinker-heavy arsenal, but Matt Chapman and Willy Adames offer some defensive balance. Bello really found his stride this past season, posting a 3.35 ERA and 1.24 WHIP across 166.2 innings.
Given his lengthy window of control and prime age, Bello can probably net the Red Sox at least one high-level prospect. Josuar Gonzalez ranks No. 44 on MLB Pipeline's Top 100. Only 18, it will be a while before the talented shortstop is ready to contribute at the MLB level. Boston has so much depth, though, that a return requiring patience is not a turn-off.
Baltimore Orioles: RHP Joe Ryan
The Baltimore Orioles are primed for a resurgent 2026 campaign, but the rotation remains a point of concern. Newcomer Shane Baz should acclimate nicely to Camden Yards and Trevor Rogers was electric down the stretch of last season, but the O's need a proven ace to lead the charge. Joe Ryan carries only a $6.1 million cap hit, with a $13 million mutual option for 2027, which he will almost certainly decline.
While the O's should be weary of rentals after all-too-brief Corbin Burnes era, their sudden willingness to spend real money this offseason — signing Pete Alonso and Ryan Helsley, trading for Taylor Ward — leads one to believe re-signing Ryan wouldn't be completely out of the question, especially if he enjoys a productive year on a winning team.
Ryan made his first All-Star appearance this past season, finishing with a 3.42 ERA and 1.04 WHIP across a career-high 171.0 innings. He destabilized slightly down the stretch, but it was an overwhelmingly positive campaign — and one that sets his price tag awfully high on the current market. Ryan's fastball plays faster than it looks on paper, and he's able to pound the strike zone consistently. He does not cough up walks, yet he still gets plenty of swing-and-miss, both in and out of the zone. His deception and precision are winning traits.
For the Minnesota Twins, this is a prime opportunity to continue their not-to-subtle teardown and retool. Baltimore can't offer much in the way of replacements on the mound, but two MLB-ready boppers in Coby Mayo and Heston Kjerstad, along with a long-term project in 2025 first-round pick Ike Irish, should be enough to pique Minnesota's interest.
New York Yankees: LHP Kris Bubic
Kris Bubic made the transition from leverage reliever to starting pitcher for the Kansas City Royals last season and flourished to the tune of a 2.55 ERA and 1.18 WHIP. He struck out 116 batters in 116.1 innings. The lefty was limited to 20 starts due to injury, so durability is a natural concern for an ex-bullpen arm. He's also on an expiring contract, which means the New York Yankees would need to contend with Bubic on the open market in a year's time.
That said, Bubic offers a much higher ceiling than Valdez, and the Yankees would probably feel better about signing Bubic to a long-term deal before his 30th birthday than signing Valdez to a long-term deal at 32. The juice on Bubic's low-90s fastball is limited, but he commands the zone effectively and has five pitches at his disposal. The cutter was an especially devastating pitch in 2025.
With Gerrit Cole, Carlos Rodón and Clarke Schmidt all hurt to begin the season, New York could really use the depth. The Yankees run the risk of becoming too dependent on lefties with Bubic, Rodón, Max Fried and Ryan Weathers all in the mix, but the talent here is undeniable. The Yankees are better positioned than most teams to pay a premium on a valuable expiring contract.
For Kansas City, 22-year-old righty Elmer Rodríguez (No. 82 on MLB Pipeline's Top 100) could graduate to the Majors by the end of this upcoming season. Jasson Domínguez, meanwhile, does not have a spot in the Yankees lineup after the Cody Bellinger reunion. There's plenty of valid skepticism around Domínguez at this point, but it's worth remembering that he is 22 years old, capable of generating major pop off the bat. As Kansas City looks to improve its outfield, Domínguez is a worthwhile upside swing.