The first thing Chaim Bloom did after taking over baseball operations in St. Louis was trade away everything that wasn’t nailed down. Sonny Gray? Thanks for your contributions, now go try to win a ring in Boston. Willson Contreras? Gone, and to the same team. Nolan Arenado? Thanks for the memories, enjoy the desert. With those trades sorted, he’s moved on to step two: prying up some of those aforementioned nails to make more deals. The most recent shoe to drop in the Cardinals retooling might be the biggest one, though. Brendan Donovan is now a Seattle Mariner, the key piece in a three-team trade that sends Ben Williamson to Tampa Bay and a heaping helping of prospects and draft picks to the Cardinals.

Donovan isn’t a household name like many of the best Cardinals of recent years, but that has far more to do with the team’s middling success of late than any lack of talent. His combination of versatility and offensive firepower calls to mind Ben Zobrist, and unlike almost every other flexible defender who gets compared to Zobrist, this one actually makes sense. Zobrist ran a 121 wRC+ during his seven-year peak. Donovan’s career mark is 119, the same as his 2025 total. He’s under team control for two more years at a reasonable rate, too: $5.8 million this year, with his last trip through arbitration set for 2027.

“A plus bat who can play defense everywhere” generally isn’t a good title to have applied to you. That’s because most of the hitters who receive that label either aren’t plus bats, don’t play good defense, or both. But as I mentioned, that’s not Donovan, and we might as well examine each of those two skills, as he’s the entire reason this trade happened, the best player going to any of the three clubs by a mile. Read the rest of this entry »

It took all the way until February, but the last few free agency dominos are starting to fall. The Reds were one of the first teams to dip their toes into the market this winter, signing Emilio Pagán to a two-year deal at the start of December. Now they’ve made it a bookend set – over the weekend, they signed Eugenio Suárez to a one-year, $15 million deal, as first reported by Jeff Passan.

I missed high on my contract estimate for Suárez. I had him down for two years at $25 million a year, while our crowdsourced projections thought he’d get three years at $20 million each. The lowest public-facing projection I found for him was two years at $22.5 million per. In other words, Suárez settled for less than predicted, and he signed late as a result. It’s a classic example of the fact that free agents who sign later sign for less.

At a top-line level, seeing Suárez sign for this little is surprising. He isn’t some flash in the pan seeking a 10-year deal. He’s been one of the best power hitters in baseball for quite a while now. The 2025 season was the fourth out of the last five where he’s topped 30 homers. He socked 49 while spending half the year in a home run graveyard in Seattle, though he did most of his damage before the trade; he posted a 91 wRC+ as a Mariner. Teams pay for projection, not performance, but Suárez’s wRC+ over the last three years is better than his career mark. But that power didn’t overwhelm a host of other question marks. Read the rest of this entry »

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Every February, a series of rituals brings baseball back from its wintry break. Pitchers and catchers report. Spring training starts. My dad calls me to tell me Rogers Hornsby’s quote about the offseason. FanGraphs releases its initial run of its Playoff Odds.

Maybe that last one isn’t as ingrained in baseball culture as pitchers and catchers reporting, but it sure gets me excited. So much offseason analysis is hot air – This new hitter is great! We like him! And have you seen their new pitcher? – that I get the feeling that every team got better. Until we plug them all into a big old spreadsheet – well, a metaphorical spreadsheet; the projection system lives in the cloud – we don’t know how each team’s annual roster overhaul, along with the natural ebb and flow of talent over time, coheres into a new competitive landscape. In the cold light of computer-generated projections, it’s easier to see which offseasons clicked and which fell short, who’s playing for tomorrow and who’s ready to win today.

The winter isn’t over, to be clear. Among the top free agents, Framber Valdez is still unsigned, and there are other difference-makers available as well. The trade market is heating up. Inevitably, there will be injuries throughout the spring, and at least a few rookies will force their way into the playing time picture. Our odds will update to reflect all of that; you can find more about how the odds are generated here. Today, though, we can only speculate based on what we know. Here are six takeaways, one for each division, from our initial odds release. Read the rest of this entry »

How much WAR does FanGraphs project Ronald Acuña Jr. for in 2026? It’s a really straightforward question. It should be especially straightforward now that all of our projections are out. But as it turns out, it’s less clear cut than it sounds at first, and clarifying it has two benefits. First, it’ll help you better understand our projections. Second, it’s fun to play with math. So buckle up: We’re doing arithmetic.

First, let’s settle on what the “FanGraphs projection” even is. Here’s the relevant section of Acuña player page:

Eight projections, each with tons of numbers. That’s a lot! But when I say the “FanGraphs projection,” I’m referring to the first green row, the FanGraphs Depth Charts projection or FGDC. That’s the top-line projection we use anywhere on the website that pulls in projections to make predictions. When you see “2026 (Proj),” it’s using that number unless otherwise stated.

That’s settled then, right? We’re projecting Acuña for 5.4 WAR. Why did I have to waste your time with an article about it? It has to do with how we make that projection, a process you’re about to learn about, probably in more detail than you wanted. Read the rest of this entry »

You already know how it works: January is for signings, trades, and articles that grade those signings and trades. Everything gets a letter, every transaction has a winner and loser, and positive thinkers like me hand out thumbs up left and right. I’ve rarely seen a signing I didn’t like. I think that most trades help out both sides. What about the aggregate effect of all the signings and trades, though? Which teams play the offseason game the best or the worst? Looking at the Mets this winter got me thinking.

How should we evaluate a front office, particularly in the offseason when we don’t have games to look at? I’ve never been able to arrive at a single framework. That’s only logical. If there were one simple tool we could use to evaluate the sport, baseball wouldn’t be as interesting to us as it is. The metrics we use to evaluate teams, and even players, are mere abstractions. The goal of baseball – winning games, or winning the World Series in a broad sense – can be achieved in a ton of different ways. We measure a select few of those in most of our attempts at estimating value, or at figuring out who “won” or “lost” a given transaction. So today, I thought I’d try something a little bit different.

Instead of a single number, I’m going to evaluate the decisions that David Stearns and the Mets made this winter on three axes. The first is what I’m calling Coherence of Strategy. If you make a win-now trade but then head into the season with a gaping hole in your roster, that’s not coherent. If you trade a star for teenage prospects and then extend a 33-year-old, that’s not coherent. Real-world examples are never that simple, but you get the idea. Some spread in decisions is inevitable, but good teams don’t work against themselves more than they have to.

Next, Liquidity and Optionality. One thing we know for sure about baseball is that the future rarely looks the way we expect it to in the present. Preserving an ability to change directions based on new information is important. Why do teams treat players with no options remaining so callously? It’s because that lack of optionality really stings. Why do teams prefer high-dollar, short-term contracts over lengthy pacts in general? It’s because you don’t know how good that guy is going to be in year six, and you certainly don’t know how good your team will be or whether you’ll have another player for the same position. All else equal, decisions that reduce future optionality are bad because they limit a team’s ability to make the right move in the future.

Finally, maximizing the Championship Probability Distribution. We like to talk about teams as chasing wins, but that’s not exactly what’s going on. Teams are chasing the likelihood of winning a World Series, or some close proxy of that. That’s often correlated to wins, but it’s not exactly the same. Building a team that outperforms opponents on the strength of its 15th-26th best players being far superior to their counterparts might help in the dog days of August, when everyone’s playing their depth pieces and cobbling together a rotation, but that won’t fly in October. Likewise, high-variance players with decent backup options don’t show up as overly valuable in a point estimate of WAR, but they absolutely matter. Teams are both trying to get to the playoffs as often as possible and perform as well as they can after arriving there. That’s not an easy thing to quantify, but we can at least give it a shot.

Let’s begin with a look at the transactions that reshaped the lineup. The biggest of these has to be the infield turnover, with Pete Alonso out and Bo Bichette, Jorge Polanco, and Marcus Semien in. Since we’re including Semien, we’ll have to include the departure of outfielder Brandon Nimmo as well. These decisions are clearly coherent; Alonso’s leaving meant space in the infield and an offensive deficit, and the Mets signed multiple free agents to account for that. I’ll analyze the Coherence of Strategy axis at the end of this write-up, but for each individual deal, I’ll focus on the other two axes of analysis.
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Last week, the White Sox admitted defeat in their handling of Luis Robert Jr.’s contract, shipping him out to the Mets for two lottery tickets and salary relief. That salary relief must have been burning a hole in their pocket, though. Or perhaps someone looked at their books, said “Guys, we play in Chicago but we’re projected for the lowest payroll in baseball and people are going to talk,” and handed GM Chris Getz a list of players who hadn’t yet signed. In any case, Seranthony Domínguez and the White Sox have agreed to terms on a two-year deal worth $20 million, as ESPN’s Jeff Passan first reported.

The right-handed Domínguez is no stranger to high-pressure relief work. In both the 2022 and 2023 postseasons, he appeared in mid- and high-leverage situations for the Phillies, and he handled them quite well (1.13 ERA, 0.78 FIP in 16 innings). In 2024, Philadelphia didn’t have much use for his services after his slow start, and so they sent him and Cristian Pache to the Orioles for platoon bat Austin Hays (whom they promptly non-tendered after the season). The O’s employed Domínguez for a year (he made two appearances for them in the playoffs), then dealt him and cash to the Blue Jays in exchange for Juaron Watts-Brown, a 40-FV relief prospect. He pitched for the Jays in October, and memorably had some ups and downs in their long run.

In other words, playoff teams have been employing Domínguez for years, but they haven’t been placing particularly high importance on his performance. He’s twice been traded to contenders in deadline deals, and at no point did his suitors offer much to get him. Those teams considered him a mid-leverage option; even the Blue Jays had him as a second-tier option out of their weak-link bullpen that flailed its way through October. Read the rest of this entry »

When the market is hot, it seems like it’ll never cool down. Forget the fact that we’re late into free agency and yet too early in the year for contract extensions. The last few marquee free agents to sign are starting to do so – hi, Cody – and that seems to have opened the floodgates for a series of trades. You’ve heard about all the noise the Mets have gotten up to, no doubt. They aren’t the only ones. The Rangers have jumped in on the action in a big way. On Thursday, they acquired MacKenzie Gore from the Nationals in exchange for prospects Gavin Fien, Devin Fitz-Gerald, Alejandro Rosario, Abimelec Ortiz, and Yeremy Cabrera, as Jon Heyman of the New York Post first reported.

In some ways, this trade has been a long time coming. Gore has been on the trade block for most of his major league career. First, he got sent from San Diego to Washington in the first Juan Soto trade. Almost immediately upon his arrival in the nation’s capital, however, he turned into a trade chip. The Nats were pretty obviously far away from competing, and Gore is the kind of arm that lots of teams dream about placing at the top of their rotation.

By 2024, Gore’s third year in the big leagues, the trade rumors were at full volume. Gore exploded out of the gate, with 98 strikeouts over 80 innings in his first 15 starts. He was a deadline target for many teams – but he slumped hard down the stretch, with a 4.48 ERA and 4.16 FIP the rest of the way, and no trade ever came to fruition. The Nats looked around that winter, didn’t move him, and then again held on after Gore came out of the gates hot, making his first All-Star appearance on the back of a 3.02 ERA (2.96 FIP) in the first half. He stayed put at the deadline – and once again slumped hard down the stretch.

That brings us to the present. Trading Gore always made sense, and the new Nationals front office finally did it. He still has two years of team control remaining, and the price for controllable starters has never been higher. His service time status lines up very well with the situation in Arlington. The Rangers have a roster that is built to contend now. Their lineup has five different hitters in their 30s (baseball-age wise, Jake Burger doesn’t celebrate his 30th until April), and only two who are 25 or younger. The rotation is led by Jacob deGrom and Nathan Eovaldi, two heroes of the 2010s who are in the twilight of their respective careers. Read the rest of this entry »

Our long national nightmare is over. After weeks of back and forth between Cody Bellinger and the New York Yankees, it’s official: He’s staying in the Bronx. The two sides have agreed to a five-year, $162.5 million deal with opt outs after the second and third seasons, a $20 million signing bonus, and a full no-trade clause, as first reported by Jeff Passan.

This fit was so obvious that it almost had to happen. The Yankees need offense, and they’d prefer it to come in the form of a left-handed outfielder who can cover center field in a pinch. They’re already familiar with Bellinger, who just put up a 5-WAR season in pinstripes. No other teams needed this exact type of player as much, at this current moment, as they did. Likewise, Bellinger was probably going to have to sign with the Yankees to get the deal he wanted. Now that that foregone conclusion has been reached, let’s unpack how this all fits together.

This contract is the culmination of a long, decorated career that was conspicuously lacking in free agency appeal. Bellinger burst onto the scene in 2017 with 39 homers for the Dodgers, taking Rookie of the Year honors in the process. He then went fully supersonic in the homer-happy 2019 season, with the rocket ball propelling him to 47 homers, a 161 wRC+, and NL MVP honors. Disaster struck in the 2020 World Series, however. Bellinger dislocated his shoulder celebrating a home run, and his performance fell off a cliff immediately after. Read the rest of this entry »