Archive for Matrix Reloaded

Matrix Reloaded: December 13, 2024

Brad Penner-Imagn Images

DALLAS — What a week, huh? Juan Soto sparked the Winter Meetings on Sunday night when he agreed to sign with the Mets for 15 years, $765 million, some incentives, and one complementary suite instead of returning to the Yankees. The Yankees then pivoted on Tuesday and signed Max Fried to the largest contract ever for a lefty pitcher. Willy Adames signed with the Giants for way more than anyone expected. Oh, and the White Sox got in on the fun, too!

The Matrix was popping off, so much so that I couldn’t stop myself from pulling out my computer during dinner to update the Soto signing. As the great television detective Adrian Monk would say, “Here’s what happened.”

Free Agent Signings

Mets Sign Juan Soto for 15 Years, $765 Million

Dan Szymborski’s InstaGraphs of the Deal
Ben Clemens’ Write-Up of the Deal
Updated Roster Projection
Updated Payroll Projection

Effect on the Mets

The outfield in Queens would appear to be solidified now, with Brandon Nimmo in left, Soto in right, and Tyrone Taylor and Jose Siri splitting time in center. DH, for now at least, looks like Starling Marte’s job, but the Mets certainly are not done spending and could look to upgrade their offense here. They are still very much in the market to re-sign Pete Alonso, who would likely be their everyday first baseman but could also see more time at DH depending on what other moves they make. Third baseman Mark Vientos has made strides as a defender, but he could slide over to first base or get more starts at DH. The Mets could also look to sign someone for the DH job outright. For example, Joc Pederson would fit well as a platoon partner for Marte.

Effect on Other Teams

Many of the deals below wouldn’t have happened this week if Soto were still on the free agent market. The Yankees certainly wouldn’t have signed Fried to his contract if Soto had accepted their $760 million offer, and the Mets very well could have spent some of the Soto money elsewhere. The cascading effects of an offseason are on display most prominently during the Winter Meetings, with quick responses needed lest you lose out on a player.

Effect on Similar Players

Similar players? What similar players?

Yankees Sign Max Fried for Eight Years, $218 Million

Dan Szymborski’s InstaGraphs of the Deal
Jay Jaffe’s Write-Up of the Deal
Updated Roster Projection
Updated Payroll Projection

Effect on the Yankees

The Yankees were aggressive in turning to Fried after losing Soto, and they now have a surplus of starting pitchers, at least in quantity if not aptitude. Gerrit Cole, Fried, and Carlos Rodón will fill out the top three spots in the rotation, with Luis Gil, Marcus Stroman, and Clarke Schmidt battling for the last two as of Friday afternoon. The Yankees could use one of them in a trade for either Cody Bellinger of the Cubs or Nolan Arenado of the Cardinals to improve their offense. Earlier Friday, the Yankees dealt another of their capable starters, Nestor Cortes, to the Brewers for one of the best relievers in baseball, Devin Williams (more on this trade later). If New York does decide to trade another starter, Gil (four years of club control) and Schmidt (three years) would be more valuable to other teams than Stroman.

Effect on Other Teams

Per the New York Post’s Joel Sherman, the Rangers and Red Sox were the other two teams in on Fried until the very end. The Rangers quickly pivoted to bringing back Nathan Eovaldi (more on him below), and the Red Sox counterpunched with their trade for Garrett Crochet. According to Alex Speier of the Boston Globe, despite acquiring Crochet, the Red Sox are “still exploring” upgrades to their rotation, including Corbin Burnes.

Fried’s former team, the Braves, remain in the market for starting pitching, though it doesn’t look like they ever made much of an effort to retain the lefty. They haven’t had any known interest in Burnes, either, and they might even be too far apart from Charlie Morton, who should be modestly priced. Perhaps they reach for the bottom of the shelf for an arm like Martín Pérez, Spencer Turnbull, Joe Ross, or Patrick Corbin to add needed depth behind their solid front three of Chris Sale, Reynaldo López, and Spencer Schwellenbach.

Effect on Similar Players

Burnes and agent Scott Boras have to be ecstatic after seeing Fried’s contract, as the lefty beat his median prediction (six years, $156 million) by nearly 40%. The same bump for Burnes’ median prediction (seven years, $217 million) would have him signing for over $300 million. Boras may well shoot for that number on a nine-year deal for Burnes, who’s a year younger than Fried.

Giants Sign Willy Adames for Seven Years, $182 Million

Michael Baumann’s Write-Up of the Deal
Updated Roster Projection
Updated Payroll Projection

Effect on the Giants

The Giants needed a shortstop, and they couldn’t have done any better than Adames. His defense weirdly took a step back in 2024, but considering his performance before that, along with his reputation, I believe his struggles to be more of a one-season blip rather than the start of a troubling trend. While new president of baseball operations Buster Posey may make moves to improve the San Francisco offense — LaMonte Wade Jr. and Mike Yastrzemski could reportedly be had in trades — it’s a deep enough group. Upgrading the Giants’ pitching is a more pressing concern.

Effect on Other Teams

If you wanted to sign a starting shortstop to be in the Opening Day lineup, you only had one great option, and now you have zero. Ha-Seong Kim has a ton of upside, but his timetable is unclear after shoulder surgery. (He’s expected to miss at least April.) Jose Iglesias had excellent results bouncing around the infield for the Mets, but his xBA and xwOBA do not inspire confidence that he’ll keep it up. Paul DeJong has some pop and plays solid defense, but he is extremely streaky. All three of those guys will have no problem getting big league deals, but they’re not Adames.

Effect on Similar Players

There are no free agent shortstops of Adames’ caliber, so those available at the position shouldn’t look at his contract and say, “Hey, great for me! I want that!” Alex Bregman, on the other hand, can use Adames as a decent measuring stick. Bregman is two years older than Adames and plays a less premium position, but they had similar seasons on offense (Adames, 119 wRC+; Bregman, 118), and Bregman’s had a better career peak (though that can only take him so far).

Adames’ AAV but with five years instead of seven gives Bregman a solid minimum to target ($130 million). Fortunately for him, he’s already got an offer from his former team with an extra year tacked on. It stands to reason, then, that Bregman might well be shooting for Adames’ exact deal if not better, and you better believe Boras is going to try his hardest to get his client $200 million.

Rangers Re-Sign Nathan Eovaldi for Three Years, $75 Million

Davy Andrews’ Write-Up of the Deal
Updated Roster Projection
Updated Payroll Projection

Effect on the Rangers

Eovaldi adds much-needed stability to a Rangers rotation that currently features Jacob deGrom, Jon Gray, Cody Bradford, and Tyler Mahle, who combined for just 38 big league starts last year to Eovaldi’s 29. Kumar Rocker, Dane Dunning, Emiliano Teodo, and Jack Leiter are next in line, so perhaps the Rangers feel they’ve got enough to make it work and can now turn their attention to their bullpen.

Effect on Other Teams

The Braves were the other team with significant buzz regarding Eovaldi, though they haven’t shown much willingness to spend this offseason, so I doubt they came anywhere near the Rangers’ offer. Reuniting with Morton or signing another stable veteran like Lance Lynn or Kyle Gibson feels more in line with where the Braves are at right now, especially with Spencer Strider working his way back from internal brace surgery.

Effect on Similar Players

They’re both encumbered by qualifying offers, but Nick Pivetta and Sean Manaea are both roughly in the same tier as Eovaldi, whose median contract prediction was two years for $45 million. Considering Eovaldi garnered a surprising third year, it isn’t out of the question that Pivetta would get a four-year deal. Meanwhile, Manaea looks to be in good position to beat Eovaldi’s AAV on a three- or four-year deal, with nine figures well within the realm of possibility.

Orioles Sign Tyler O’Neill (Three Years, $48.5 Million, with post-2025 Opt Out) and Gary Sánchez (One Year, $8.5 Million)

Davy Andrews’ Write-Up of the Deal
Updated Roster Projection
Updated Payroll Projection

Effect on the Orioles

If the Orioles make any further changes to their offense, they’ll likely have to subtract before they add. Heston Kjerstad looks plenty deserving of playing time, but he’s not currently on the projected roster. Trading either Ryan O’Hearn or Ryan Mountcastle would make sense, and it isn’t out of the question that they could trade Cedric Mullins — with Colton Cowser more than capable of handling center field — to free up a spot for Kjerstad in the corner outfield. Catcher is all set with Sánchez joining Adley Rutschman, eliminating the possibility of reunion with James McCann.

Effect on Other Teams

O’Neill’s injury history likely gave some teams pause and surely dampened his earnings, but on a rate basis, no free agent bat showed power as prodigious. In fact, he was fourth in the league in AB/HR among all 20-homer hitters. That’s not to say the options are sparse, though. Teoscar Hernández is coming off a fuller season than O’Neill, and historically he’s been much healthier. Anthony Santander, who almost surely won’t return to the Orioles with O’Neill in the fold, has big pop from both sides. They’ll cost more than O’Neill, who was in something of a class of his own among outfielders regarding his contract predictions. (O’Neill’s median prediction was three years and $40 million, which he beat handily, not to mention the opt-out.)

As for the catching market, it’s now pretty bare, with Carson Kelly reportedly closing in on a deal with the Cubs. Yasmani Grandal, Elias Díaz, and McCann are the three catchers left who have at least decent odds of securing an MLB deal.

Effect on Similar Players

While Santander and Hernández are in another class of player and contract prediction, they still both serve to benefit from O’Neill’s deal being better than expected, with an opt-out to boot. It might be tough for Santander to beat his median prediction of five years and $100.5 million by much, if at all, but Hernández ought to be aiming higher than three years, $70.5 million after seeing what O’Neill got. Jurickson Profar is another bat out there, and while he’s quite different from O’Neill, his contract predictions were similar. He may be able to get a fourth year or at least a heftier AAV on a three-year deal.

Mets Sign Clay Holmes for Three Years, $38 Million

Jake Mailhot’s Write-Up of the Deal
Updated Roster Projection
Updated Payroll Projection

Effect on the Mets

The Mets lost three starting pitchers to free agency, with Luis Severino shipping off to Sacramento and Manaea and Jose Quintana still on the open market. They’ve filled two of those spots by signing Frankie Montas and Holmes, who is expected to transition from high-leverage reliever to starter. That leaves Kodai Senga, David Peterson, Paul Blackburn, and Tylor Megill as the only other healthy pitchers on the 40-man who started games this past season. Adding Holmes shouldn’t and won’t keep the Mets out of the starting pitching market, especially because they could use a six-man rotation to accommodate Senga’s schedule and limit Holmes’ innings. As noted on the Matrix in blue cells, the Mets have expressed interest in virtually every starter still out there.

Effect on Other Teams

Holmes’ pending conversion to the rotation puts teams in a weird spot; before he signed, some clubs considered the move as well, while others preferred to keep him in the bullpen. That means there aren’t many clean pivots for teams because their needs vary. The one comparable pitcher, though, is Jeff Hoffman. He is coming off a better relief season than Holmes, but he is also a candidate to move into a rotation, albeit with a very different profile from Holmes.

Effect on Similar Players

Holmes handily beat his median prediction of three years and $30 million and was able to secure an opt-out as well, good news for Hoffman if he too makes the move to the rotation. Hoffman, like Holmes, is entering his age-32 season, and comes with a slightly higher median contract prediction of three years and $33 million. Might he be able to get something like three years and $42 million with an opt out?

Guardians Sign Shane Bieber for Two Years, $26 Million (2026 player option)

Leo Morgenstern’s Write-Up of the Deal
Updated Roster Projection
Updated Payroll Projection

Effect on the Guardians

Immediately, there’s no real impact on the Guardians besides to their payroll. Bieber will miss the start of the season and could reasonably be out for the entire first half recovering from Tommy John surgery after making just two starts in 2024. The Guardians could perhaps use another healthy starter to team up with Tanner Bibee, Luis L. Ortiz, Ben Lively, and Gavin Williams in the season-opening rotation, though the club isn’t without options. Joey Cantillo, Triston McKenzie, Logan Allen, and Doug Nikhazy are others on the 40-man vying for starting spots, and Matt “Tugboat” Wilkinson’s meteoric rise through the system could continue.

Effect on Other Teams

As with the Guardians, there should be no immediate impact here. Bieber took less money to stay in a familiar spot, with the Red Sox one such team who made a strong push. Bieber offers upside at a price affordable only because he got hurt.

Effect on Similar Players

There aren’t really any pitchers who can view Bieber’s contract as a model. He’ll be out for a good chunk of the season, plus he turned down more money to stick around. The two-years-including-a-player-option model is one that other rehabbing pitchers could look to follow, albeit on a lesser scale. John Means and Brooks Raley could endeavor to control their own 2026 fates with options, as could Patrick Sandoval, though he’d be under club control via arbitration even if he turned down such an option.

Dodgers Re-Sign Blake Treinen (Two Years, $22 Million), Sign Michael Conforto (One Year, $17 Million)

Dan Szymborski’s Write-Up of the Deals
Updated Roster Projection
Updated Payroll Projection

Effect on the Dodgers

The Dodgers still need another corner outfielder even with Conforto in the fold, and to that end, they’re still talking with Hernández, albeit with a gap in negotiations that may not be bridged. At any rate, I don’t think Andy Pages is going to enter the year as a starting outfielder, though he makes plenty of sense as an oft-playing bench bat.

As for the bullpen, the Dodgers aren’t simply looking to run back their championship bullpen core minus the retiring Daniel Hudson. Los Angeles is looking into signing Tanner Scott, the best lefty reliever available on the free agent market.

Effect on Other Teams

Righty relievers and lefty corner bats are always plentiful in free agency, but Treinen is arguably the nastiest of the bunch in the former group, and Conforto has a high ceiling for someone on a one-year deal. The Dodgers, along with other teams, were surely intrigued by Conforto’s 133 wRC+ away from the hitter-unfriendly Oracle Park, hence the hefty price for the pillow contract.

Effect on Similar Players

The old-but-still-nasty group of free agent relievers is strong even with Treinen and Aroldis Chapman off the board: Kirby Yates, Kenley Jansen, David Robertson, Tommy Kahnle, Andrew Kittredge, and Chris Martin are all 35 or older. At least some of the younger members of that group (Robertson and Martin are likely year-to-year at this point) could be in line for multi-year deals at or around Treinen’s average-annual value, with Kahnle and Kittredge sure to be cheaper and Yates likely to be more expensive.

Bounce-back lefty bats are fewer and farther between, but one player who ought to be pleased by Conforto’s contract is Max Kepler. Kepler had an injury-riddled season in which he hit just eight homers across 399 plate appearances, but his last great season (2023) was more recent than Conforto’s (2020), and he’s a better fielder, too. The Dodgers may well have blown everyone out of the water just to sign Conforto, but Kepler’s contract could still beat his median prediction of $11 million.

Tigers Sign Alex Cobb (One Year, $15 Million); Blue Jays Sign Yimi García (Two Years, $15 Million); Phillies Sign Jordan Romano (One Year, $8.5 Million)

Michael Baumann’s Write-Up of the Cobb/García Deals
Baumann’s Write-Up of the Romano Deal
Updated Tigers Roster Projection
Updated Tigers Payroll Projection
Updated Blue Jays Roster Projection
Updated Blue Jays Payroll Projection
Updated Phillies Roster Projection
Updated Phillies Payroll Projection

Effect on the Signing Teams

Baumann was our resident “write about all the pitchers who ended the season injured” guy, apparently. All three ended the season hurt, and all signed for more than I thought they would. If healthy, the’ll all add much-needed stability to their new teams. Cobb will give the Tigers another “real” starter to avoid using Tyler Holton to start every other day, Romano will help cover for the potential loss of Hoffman and Carlos Estévez, and García will help backfill a bullpen that lost Romano. The Tigers may feel content with their starting pitching options at the moment, but the Blue Jays and Phillies probably have more work to do to augment the relief corps.

Effect on Other Teams

This is just what pitching costs now, apparently. If teams hadn’t recalibrated already, now’s the time to do so. Maybe waiting things out will lead to some bargain-basement prices on lower-upside pitchers, but you’re not going to find great stuff for just a couple million bucks, injury concerns be damned.

Effect on Similar Players

Remaining pitchers coming off injury-riddled or injury-shortened seasons include starters Max Scherzer, Justin Verlander, Clayton Kershaw, Trevor Williams, and Spencer Turnbull; and relievers A.J. Minter, Joe Kelly, and Danny Coulombe. They all are of varying levels of upside, but based on how the pitching market is shaping up, they should be expected to command more than we initially expected.

Rockies Sign Thairo Estrada (One Year, $4 Million); White Sox Sign Mike Tauchman (One Year, $1.95 Million)

Updated Rockies Roster Projection
Updated Rockies Payroll Projection
Updated White Sox Roster Projection
Updated White Sox Payroll Projection

Effect on the Signing Teams

Tauchman will step into the White Sox’ starting lineup, at least against righties; he’s a natural platoon partner for the righty-swinging Austin Slater, and his OBP skills work great atop a thin lineup. Estrada should be Colorado’s starting second baseman, sliding the newly acquired Kyle Farmer to a utility role.

Effect on Other Teams

Plenty of players from the bargain bin are still available; teams won’t be losing sleep over missing out on Tauchman and Estrada, even with their upside.

Effect on Similar Players

This was roughly what I expected these two to get after they were cut loose by their old teams, so this isn’t a needle-mover for the market.

Yankees Re-Sign Jonathan Loáisiga (One Year, $TBD, with 2026 club option); Rangers sign Jacob Webb (One Year, $1.25 Million)

Updated Yankees Roster Projection
Updated Yankees Payroll Projection
Updated Rangers Roster Projection
Updated Rangers Payroll Projection

Effect on the Signing Teams

I grouped these two together not because they’re similar pitchers, but because their two teams are in similar situations. These two righties won’t be the last or best relief additions that either team makes, with each team losing three key relievers to the free agent pool. In fact, the Yankees made a bigger splash on Friday, when they traded with the Brewers for Williams. More on that later.

Effect on Other Teams

Little effect on the Yankees and Rangers also means there’s little effect on the other 28 teams. There are still relievers aplenty on the free agent board.

Effect on Similar Players

But, because Loáisiga had plenty of suitors, some of those relievers could sign in quick succession as teams pivot to other options on the market.

Trades

Red Sox Acquire Garrett Crochet From White Sox for Four Prospects

Ben Clemens’ Write-Up of The Deal
Updated Red Sox Roster Projection
Updated Red Sox Payroll Projection
Updated White Sox Roster Projection
Updated White Sox Payroll Projection

Where the Red Sox Go From Here

The top three pitchers in the Red Sox’ rotation have some of the best stuff of any triad in the majors, and Kutter Crawford is a nice fourth starter to have despite his homer problem. There’s not great depth beyond that, though. Richard Fitts had a nice first four starts but didn’t miss bats, Lucas Giolito’s return date from elbow surgery is uncertain, and Cooper Criswell is probably best deployed as a swingman who never faces more than 18 hitters. To that end, Burnes is still on the table for Boston, and if not Burnes, the Red Sox could look to add a lower-tier option to fill a spot.

Where the White Sox Go From Here

Crochet was by far the biggest trade chip, but the White Sox are not without players who could be of interest to other teams. Luis Robert Jr. could be on the move before the offseason is over, even though he’s coming off the worst year of his career and is at the nadir of his value. They’d surely love to unload the last three years of Andrew Benintendi’s contract, but after he had a strong second half, the Sox would have to eat quite a bit of cash to facilitate a deal. Andrew Vaughn could also be of interest to other teams. From there, they could round out the roster with some sign-and-flip candidates.

Cubs Acquire Kyle Tucker for Isaac Paredes, Two Others

Updated Cubs Roster Projection
Updated Cubs Payroll Projection
Updated Astros Roster Projection
Updated Astros Payroll Projection

Where the Cubs Go From Here

The natural move for the Cubs is to clear the outfield logjam by trading Bellinger, and I’d guess that they’re confident in their ability to do that with Tucker in the fold. Pete Crow-Armstrong was too good down the stretch to relegate to the bench, and Seiya Suzuki’s no-trade clause complicates his availability, plus he’s easily the best righty bat on the team. They could also look into a third base stopgap until Matt Shaw is ready. Yoán Moncada, Gio Urshela, and Paul DeJong would all come cheap.

Where the Astros Go From Here

No, I don’t think Taylor Trammell is actually going to be the Astros’ Opening Day right fielder, as we currently have projected. The Astros are operating under some payroll constraints but just saved about $9 million by replacing Tucker with Paredes, and they could reinvest that money into a one-year deal for Max Kepler or Alex Verdugo. I’d be surprised if the Astros brought Bregman back with Paredes in the fold, though the latter could slide over to first base and replace Jon Singleton if Bregman returns.

Andrés Giménez to Blue Jays, Spencer Horwitz to Pirates, Luis L. Ortiz to Guardians in Not-Quite-Three-Team Trade

Ben Clemens’ Write-Up of Giménez to Toronto and Horwitz to Pittsburgh
Updated Blue Jays Roster Projection
Updated Blue Jays Payroll Projection
Updated Pirates Roster Projection
Updated Pirates Payroll Projection
Updated Guardians Roster Projection
Updated Guardians Payroll Projection

Where the Blue Jays Go From Here

Toronto has majorly upgraded its defense at the expense of its offense, so the natural action here is to explore another move (or two, or three, or…) that would augment a lineup that isn’t exactly a threat besides Vladimir Guerrero Jr. and a theoretical return to form for Bo Bichette. The Jays have expressed interest in Bregman and Santander along with some more complementary bats on the market like Gleyber Torres.

Where the Pirates Go From Here

The Pirates desperately need offense this offseason, and while Horwitz is a nice get, they still should add more hitters. Having Isiah Kiner-Falefa as their leadoff batter on Opening Day, as we currently project, would be somewhere between “not ideal” and “organizational malpractice.” A reunion with Andrew McCutchen makes all the sense in the world, but that’s more of a depth move. It would behoove the Pirates to take a big swing at a big swinger to support a solid pitching staff. Santander, Teoscar Hernández, and Christian Walker each would be transformative.

Where the Guardians Go From Here

As far as a direct response to this trade is concerned, the Guards really don’t need to make one. Cleveland is teeming with infield depth and can simply use someone like Angel Martínez or Juan Brito to keep the seat warm for the eventual arrival of this year’s first overall pick Travis Bazzana. Ortiz lessens the team’s need in the rotation, too, with four spots now looking to be in pretty good shape and Triston McKenzie out of options.

Yankees Acquire Devin Williams From Brewers for Nestor Cortes and Caleb Durbin

Updated Yankees Roster Projection
Updated Yankees Payroll Projection
Updated Brewers Roster Projection
Updated Pirates Payroll Projection

Where the Yankees Go From Here

Williams and Luke Weaver give the Yankees a great one-two punch in the back end of their bullpen, but they shouldn’t be done adding relief arms. We currently project New York’s bullpen to be all right-handed, so a reunion with Tim Hill would make a lot of sense. If they wanted to form probably the league’s most formidable bullpen trio, they could go big and sign Tanner Scott.

Durbin had been penciled in as the Yankees’ starting second baseman, and losing him increases the need for his former club to acquire another infielder. They’ve shown interest in third baseman Bregman, whose addition would slide Jazz Chisholm Jr. over to second, and they still desperately need to upgrade at first base; they’re reportedly in the market for Walker and Alonso. They could also re-sign Torres to play second, with Chisholm remaining at third.

Where the Brewers Go From Here

Barring any other trades (like shedding Aaron Civale’s $8 million projected salary, for example), the Brewers have to be feeling pretty good about their rotation. Cortes joins Freddy Peralta, Brandon Woodruff, Civale, and Tobias Myers in the starting five, with DL Hall, Aaron Ashby, Connor Thomas, and top prospect Jacob Misiorowski around as rotation depth.

Durbin will help out in the infield and is currently projected to platoon with Oliver Dunn at third, though both players are unproven, and Durbin has yet to make his MLB debut. Milwaukee has expressed interest in Ha-Seong Kim, who will miss the start of the season but has more upside than any of the team’s current infielders.

Rangers Get Jake Burger in Trade With Marlins for Three Prospects

Michael Baumann’s Write-Up of the Trade
Updated Rangers Roster Projection
Updated Rangers Payroll Projection
Updated Marlins Roster Projection
Updated Marlins Payroll Projection

Where the Rangers Go From Here

On the surface, the Rangers have too many hitters for nine spots, with Kyle Higashioka, Josh Smith, and Leody Taveras all starting-caliber but currently projected on the bench. However, there are legitimate concerns with the health of Evan Carter coming off back surgery, Josh Jung after two wrist surgeries, and Corey Seager after hernia surgery. Burger provides needed insurance on the infield corners as well as at DH. Roster redundancy is only a problem if everyone is healthy and performing, and that’s rarely the case for any team.

Where the Marlins Go From Here

This doesn’t necessarily portend further gutting by Peter Bendix and company, with Bendix expressing a desire to give playing time to upstart youngsters like Deyvison De Los Santos and Agustin Ramirez. Jesús Sánchez could be of interest to other teams if Miami wants to open some outfield playing time for less experienced players.

Biggest Rumors of the Week

• The Tucker trade should shape Bregman’s market, as he might be the next big free agent to come off the board. Houston’s acquisition of Paredes in that deal likely closes off the chance of a reunion with Bregman, who has other teams (Yankees, Red Sox, Tigers, Blue Jays) interested in him.

• A big week for starting pitcher signings leaves Burnes as the best remaining free agent by far, and he too may be nearing a decision. If the Blue Jays and Giants are indeed the favorites and one of them signs him, he’d be joining a team coming off a disappointing season but looking to turn things around quickly.


Matrix Reloaded: December 6, 2024

Brad Penner-Imagn Images

For the last six offseasons, I’ve spent (too) much of my time compiling my Offseason Matrices Google doc, a project that Davy Andrews so kindly described as “a work of absolute madness.”

The document has evolved hugely since its first iteration in the 2018-19 offseason, with more tabs, better formatting and color-coding, linking to sources, and many more improvements to make it more user friendly and comprehensive. Now, in this weekly article, I’ll be running down the latest updates, talking through how the latest signings and trades have had downstream effects on the team that actually acquired the player, as well as others who didn’t. The goal here isn’t to rehash every move that happens; that’s what the initial FanGraphs coverage was for! Rather, my aim is to add some additional context and comments and summarize how the landscape of the offseason has changed with the moves. After all, that’s what all the color-coding on the Matrix is for.

Biggest Rumors of the Week

Juan Soto appears to be getting closer to a decision, with at most five teams still in the (known) running: the Yankees, Mets, Dodgers, Red Sox, and Blue Jays. Mystery teams are always possible, I suppose, but now that the bidding has reportedly hit $600 million, I highly doubt it. Soto has begun to eliminate teams, though we’re not sure which teams are out and how many remain. Per Jeff Passan of ESPN, we’re expected to know Soto’s destination by the beginning of the Winter Meetings on Monday at the latest.

• The Yankees appear to be preparing for life after Soto, though they certainly hope it won’t come to that. They reportedly have met with free agent starting pitchers Corbin Burnes and Max Fried, and could push hard to sign infielder Willy Adames if Soto leaves. On the trade side of things, they’ve showed interest in Cubs outfielder/first baseman Cody Bellinger to replace Soto as a lefty bat in the middle of the lineup. Bellinger could also fill their opening at first base and might be an option even if Soto returns. Speaking of first base options, earlier in the offseason, the Yankees checked in on Pete Alonso and were one of the teams to express interest in Christian Walker.

• Trader Jerry is at it again, with Adam Jude of the Seattle Times reporting that the Mariners have had preliminary discussions with the Phillies about Alec Bohm and the Cubs about Nico Hoerner. Teams will have conversations with dozens of free agents and about dozens of trade targets, so don’t draw any conclusions about these specific players just yet. However, these two nuggets signal that Jerry Dipoto is looking to upgrade at third base and second base, perhaps aggressively. Also, big ups to Dave Dombrowski for reportedly asking for Logan Gilbert or George Kirby in exchange for Bohm.

• Korean second baseman Hye-seong Kim has officially been posted for MLB clubs, and he now has until 5 p.m. EST on January 3 to reach a deal. He’s was already linked to the Mariners pre-posting, and other teams should surely follow now that he’s officially available. Eric Longenhagen has him graded as a 40 FV player who may not have a ton of upside but should represent a relatively low-cost option. Ha-Seong Kim (no relation, though they did play together in Korea) signed for four years and $28 million when he came stateside before the 2021 season, and Hye-seong should end up around there.

A’s Sign Luis Severino for Three Years, $67 Million

Effect on the A’s

Well folks, we’ve got our first true “he signed WHERE???” of the offseason. The A’s are showing they’re at least somewhat-committed to fielding a more competitive team in 2025. Plus, $67 million for Severino is also a strong indication that it might take something of a premium to lure players to a minor-league ballpark for any length of time, especially a player like Severino. This’ll almost certainly be the largest deal the A’s sign this offseason, but for the first time in a few years, you don’t have to squint too hard to see the makings of a decent team.

Effect on Other Teams

I’m not sure how many other suitors Severino had, nor do I know how many of them had the A’s on their radar as potentially vying for him alongside them. Whatever the case may be, such teams are going to turn their attention to similar pitchers, perhaps others with qualifying offers attached, such as Nick Pivetta and Sean Manaea, or an unencumbered pitcher like Nathan Eovaldi.

Effect on Similar Players

Those similar guys I just mentioned are probably doing cartwheels after learning Severino signed for $23 million a year. Kiley McDaniel of ESPN had the highest contract prediction (on the Total Spending Projection tab) for Severino of the ones I was able to aggregate, and he was low by $8.5 million. That doesn’t necessarily mean that Pivetta, Manaea, and Eovaldi will sign for many millions more than expected, but one fewer pitcher on the board — signed by an unexpected team, no less — should increase demand for those three.

Mets Sign Frankie Montas for Two Years, $34 Million

Effect on the Mets

This doesn’t close off the Mets from adding to their rotation; they’ve still got at least two rotation spots to fill, with Kodai Senga joining Montas and likely David Peterson as locks for the starting five. This move should also solidify José Buttó as a reliever, even if he’s stretched out during spring training.

Effect on Other Teams

Might this get rivals calling about Paul Blackburn? We know the Mets need as many starters as they can get, but Blackburn has fallen further down the depth chart with the Montas addition, and his going on the IL for leaking spinal fluid meant the Mets couldn’t evaluate him much after acquiring him from the A’s at the trade deadline.

Effect on Similar Players

Montas’ snagging $34 million over two years (with an opt out!) seemed to help out Matthew Boyd (more on him later), and that $17 million average annual value ought to be good news for similarly ranked players like Max Scherzer, Andrew Heaney, Jose Quintana, Charlie Morton, Justin Verlander, and Michael Lorenzen. I think Montas will outdo all of those guys in AAV, but it wouldn’t surprise me to see most of them beat their median contract prediction, which you can find on the Total Spending Projection tab.

Cubs Sign Matthew Boyd for Two Years, $14.5 Million

Effect on the Cubs

Likelier than not, the Boyd addition will end the Cubs’ pursuit of starting pitching, at least when it comes to adding other mid-tier arms. Shota Imanaga, Justin Steele, Jameson Taillon, and Boyd should all be guaranteed starting jobs, and I think the Cubs would only bump Javier Assad if they were able to land a true impact starter like Garrett Crochet, Max Fried, or Jack Flaherty.

Effect on Other Teams

Like Blackburn with the Mets, Assad could end up as a trade target for teams in need of starting pitching depth, though I’m not sure how willing the Cubs would be to part with him. As I said, I think Assad has a leg up on the competition for the fifth starter spot. However, perhaps the Cubs would be more likely to trade him if he were part of a deal to land a better starter, such as the aforementioned Crochet. Jordan Wicks, Ben Brown, and Hayden Wesneski are now on the outside looking in for rotation spots. Despite Chicago’s strong depth, as a rule, I generally don’t mark teams’ columns on the FA Matrix with maroon cells (denoting filled positions) for pitchers, since you can never have too many.

Effect on Similar Players

Mid-rotation arms are getting paid this winter!

Red Sox Sign Aroldis Chapman for One Year, $10.75 Million

Effect on the Red Sox

The Red Sox entered the offseason with quite a lot of work to do in their bullpen. That said, Boston has to be pretty comfortable with its lefties now that Chapman and Justin Wilson are in the fold. Brennan Bernardino and Cam Booser are also on the 40-man.

Effect on Other Teams

We don’t know of any other teams who were interested in Chapman, but with clearly the second-best lefty reliever off the board, there’s now a big chasm between big fish Tanner Scott and the rest of the lefties for teams looking to add a southpaw. Besides Scott, there’s also Scott Alexander, Ryan Yarbrough, Danny Coulombe, Drew Smyly, Andrew Chafin, Jalen Beeks, and Hoby Milner, among others. Plenty of interesting names there, but only Chapman has the high-octane gas that Scott also possesses.

Effect on Similar Players

That $10.75 million is a healthy contract for Chapman, and it should set a good target for veteran high-leverage arms outside of the big four of Scott, Jeff Hoffman, Clay Holmes, and Carlos Estévez. Blake Treinen, Kenley Jansen, Kirby Yates, and David Robertson should all be aiming for at least $10 million.

Rangers Sign Kyle Higashioka for Two Years, $12.5 Million

Effect on the Rangers

The Heim-Higashioka timeshare takes the Rangers out of the catcher market for the rest of the offseason. (Their column now has maroon cells for all catchers who should get MLB deals.) It also gives them an obvious trade chip in Sam Huff, who’s hit well in limited MLB opportunities for the past four years, but has never been highly regarded behind the dish.

Effect on Other Teams

Huff’s entry onto the trade block somewhat offsets the inability for other teams to sign Higashioka, though again, Huff probably isn’t a catcher and certainly doesn’t have the reputation Higgy has back there. The catcher market is the one position player group that’s moved quickly in free agency; Higashioka, Jacob Stallings, Austin Hedges, Danny Jansen, and Travis d’Arnaud are now all off the board. Carson Kelly, Yasmani Grandal, Gary Sánchez, Elias Díaz, and James McCann are the best options left.

Effect on Similar Players

Of those best options I just mentioned, Kelly is the only option left who strikes me as likely to sign a multi-year deal. Higashioka essentially matched his median contract prediction of two years and $14 million, signing for just $500,000 less. That’s a helpful data point for Kelly, whose median prediction is two years at $14 million.

Rays Sign Danny Jansen for One Year, $8.5 Million

Effect on the Rays

Along with the Rangers, the Rays now have their catcher timeshare settled for 2025, with the lefty-hitting Ben Rortvedt and lefty-mashing Jansen forming a natural platoon. For $8.5 million, Jansen could get plenty of run against righties, too, but Rortvedt should play more than a typical backup even if he’s relegated to that role. The Rays already lost René Pinto off waivers to the Orioles, so Logan Driscoll will be down in Triple-A as the top depth option.

Effect on Other Teams

If you want a catcher, options are dwindling quickly. If none of the backstops I mentioned in the Higashioka section sound particularly enticing, maybe call the Pirates and ask about Jason Delay or Henry Davis, or talk to the Phillies about Rafael Marchán or Garrett Stubbs.

Effect on Similar Players

Jansen’s contract ended up being worse than expected; his median contract prediction was two years and $18 million, so he didn’t even match the AAV. This might read as bad news for Kelly, but I think Kelly is closer to Higashioka than he is to Jansen. Kelly has a strong defensive reputation and is also coming off a better season, whereas Jansen has a concerning injury history and had a rough 2023 campaign.